<p>Im with you guys on the fact that most people seem to learn these things on there own. However, there are so many times when I cringe at the lack of valuable skills taught in school, both hs and college. Maybe its the fact that I have taken quite a few bs classes, but I could run off a long list of things that have never come in handy to me even once in my life. The finance and econ classes Ive taken are great to give you a broad picture of things, but are really not very applicable to personal finance. Thus, I have no less than ten books on my shelf about different kinds of real estate investing, taxes, and general financial books (not the extremely technical ones, but they give you some great basic knowledge that is easy to use). It just seems like a better idea to me if we would promote some of this knowledge in school, maybe there wouldnt be such a massive income gap in our country if more people knew how to use their money.</p>
<p>While I don’t want to get into a financial meltdown debate, I feel that there is a huge intellectual stigma with Finance that causes people to instead delegate their financial planning to someone else under false pretenses of expertise.</p>
<p>I’m no Warren Buffet but if we taught people the following:
- Make a budget and stick to it
- Save your money (compounding interest is awesome)
- Learn how to invest (MAD MONEY DOES NOT COUNT DAMN IT)
- If you are super lazy but an index fund. </p>
<p>people would be a lot happier. Instead we have scores of “investment” firms, CFAs and other “get-rich” predators that take advantage of general ignorance.</p>
<p>purduefrank can you name any books, explicitly? I love reading about practical finance. One I’ve just recently finished was The Trade Off by Kevin Maney. He lectured my freshman entrepreneurship class, and his book was fantastic. Not really relevant to personal finance, per se, but I {abstractly} enjoyed it, nonetheless. </p>
<p>[Amazon.com:</a> Trade-Off: Why Some Things Catch On, and Others Don’t (9780385525947): Kevin Maney, Jim Collins: Books](<a href=“http://www.amazon.com/Trade-Off-Some-Things-Catch-Others/dp/038552594X]Amazon.com:”>http://www.amazon.com/Trade-Off-Some-Things-Catch-Others/dp/038552594X)</p>
<p>techy</p>
<p>[Amazon.com:</a> Get a Financial Life: Personal Finance In Your Twenties and Thirties (9780743264365): Beth Kobliner: Books](<a href=“http://www.amazon.com/Get-Financial-Life-Personal-Twenties/dp/0743264363/ref=sr_1_13?ie=UTF8&s=books&qid=1256920663&sr=1-13]Amazon.com:”>http://www.amazon.com/Get-Financial-Life-Personal-Twenties/dp/0743264363/ref=sr_1_13?ie=UTF8&s=books&qid=1256920663&sr=1-13)</p>
<p>Investing in Income Properties
- Kenneth D. Rosen
(first chapter or two are kind of trying to sell you on the idea - didn’t really like that part - but afterwards there is good specific strategic knowledge)</p>
<p>Foreclosure Investing For Dummies
(As the title says, it gives you the basics and things to look out for)</p>
<p>Profit by Investing in Real Estate Tax Liens
- Larry B. Loftis
(Most people are unaware, but this is a very secure way to earn high yields - in a moderately long-term position… in the state of texas, up to 25% returns, fl up to 16%, etc…)</p>
<p>Real Estate Tax Deed Investing - “How we made over one million dollars in two years”
- Matt Meridian & Laurence Samuels</p>
<p>The Real Book of Real Estate
- Robert Kiyosaki</p>
<p>The Art of Short Selling
-Staley
(pretty outdated, but useful nonetheless)</p>
<p>Think and Become Rich
-Napoleon Hill</p>
<p>Rich Dad, Poor Dad
- Robert Kiyosaki</p>
<p>The list goes on… If you don’t know anything about some of the subjects these books will definately give you a basic understanding - then, like everything, you need to continue your education on the subect. My greatest interest is in real estate - growing up in FL, most of the people I’ve known who are millionaires either got there through real estate, or have a huge position in real estate. I’m sure many people from the northeast may feel similarly towards stock investing - I just don’t really have a huge interest in it.</p>
<p>I’m not in college yet but the school I’m going to use as my safety, VCU, requires all engineering students to minor in buisness. They just built a new building and are rearranging their students just for this specific purpose. They are grouping their engineering students in one side of the building and their buisness students in the other. The engineering head felt that ALL engineering students should know the buisness side of life so he/she required all incoming students to minor in it. I thought it was quite a remarkable idea. Its cool to see the idea take form here on CC and be of serious relevance.</p>