November 3, 2020

Top Book Picks for Financial Literacy

At Insur Simple, we help you find life insurance that secures your life. We also aim to give you resources to take control of your financial and investment future. That’s why, when we aren’t getting into the nitty-gritty of underwriting or finding you the best insurance quotes online, we’re scouring the internet for expert tips and market trends that will help you get the most out of your investments.

Here’s a few of our favourite books that help folks manage their personal finances.

Refinery29 Money Diaries: Everything You’ve Ever Wanted To Know About Your Finances… And Everyone Else’s

Lindsey Stanberry, director at Refinery29, one of the leading publications for millennial women, published a money diary series tracking what millennials across the U.S. are doing with their money. Detailed records of weekly spending, income, expenses, and savings plans are presented in tandem with everyday financial decisions and interspersed financial how-tos from the author herself.

While offering a glimpse of what millennials are earning across a variety of careers, the author provides insights into everything from RRSPs to foregoing all non-essential expenses in order to save for a downpayment. Pick this one up if you need a 101-intro to budget management.

The Latte Factor

We’ve all read the thinkpieces about how saving our latte money for a year is equivalent to like, thousands of dollars right? Author David Bach teaches us that we may not need to forgo the flat white after all. In this book, part financial advice column, part feel-good fiction story, Bach covers saving, spending, and investing to achieve your goals.

Financial freedom isn’t only for the well-to-do. Bach’s novel follows a 20-something year old in New York, who learns about financial street smarts from her wise, barista godfather. Easy to read and understand, we highly recommend this book for those who want their financial lessons served with a side of whimsy.

Broke Millennial: Stop Scraping By and Get Your Financial Life Together

Looking to get a hold of your finances? This book is for the twenty and thirty-something millennials who’ve struggled to get all of their financial ducks in a row. This book offers a ground-up approach, covering everything from the mindset that stops us from flourishing financially to the basics of investing and buying a home.

Erin Lowry’s writing style is witty and casual, explaining complex but fundamental concepts in a way that’s easy to understand. Grab this book if you are looking for an A to Z guide on managing personal finances.

The Infographic Guide to Personal Finance: A Visual Reference for Everything You Need to Know

Are you a visual learner? Maybe you can’t spend more than five minutes reading about long term investments or interest rate increases. If so, this may be the book for you. Michele Cagan created this purely visual guide to personal finance, with over 50 infographics detailing everything from finding the right credit card to how often you should re-evaluate your finances.

This one is perfect for teenagers and young adults who are getting a taste of financial independence or just entering the workforce. The fun and approachable design makes the information easy to process, even for those with limited knowledge on the subject.
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