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IWTL financial literacy
It's a very hard topic to research lately because of the crypto-bros lately and it's very hard to trust a stranger on youtube spouting financial advice.
Can tildes suggest any must-read books and/or resources to become more financially literate?
Background: I'm a software engineer from Germany, I'm making decent salary, but I've always been incredibly bad with money. I just spend what I need and almost never look after my financial state. The result, as you can imagine, is a very low rate of savings and a lot of unrealized gains.
Honestly, it's kind of embarrassing to ask, I lucked into a great industry, but has been so irresponsible with my money, I guess the first step is acceptance.
I can't recommend any specific literature, but I can recommend possibly consulting an independent financial advisor. That is, find someone who works for themself and is not paid to shill particular products nor is associated with any financial institutions. Essentially, you want to pay them for their time to look into your individual situation and make recommendations. Note that this will likely involve some homework on your end to collect information about your income, assets, spending habits, etc. An advisor may also have recommendations on reading material.
It's been a long time since I read any books on finance, but I remember A Random Walk Down Wall Street as being somewhat academic but interesting.
It's probably a good idea to read about why index funds are a good idea. I haven't read it, but The Little Book of Common Sense Investing seems like it should be a good intro to "boglehead" style investing, considering that it was written by John C. Bogle, the guy who founded Vanguard and is credited with creating the first index fund.
But those are more about deciding how to invest. There are also books about the deeper cultural and psychological issues people have relating to money and their spending habits. I don't know what to recommend there, but Your Money Or Your Life has a good reputation.
Maybe if you talk about what sort of questions you want answered, we could give you more specific recommendations?
(BTW, "unrealized gains" has a technical meaning in finance and it's probably not what you're thinking.)
I'm not exactly a finance guy, but I read "The Millionaire Teacher" and that was good enough for me to get going with a sound investment plan. I invest via an e-trading platform, and I maintain a balance of a 50% US total market index, 25% CAD total market index, and 25% world total market index shares.
The book explains it in better, more thorough yet understandable terms, and it's been a while so I'm paraphrasing, but essentially: