Financial Literacy - Rich Dad, Poor Dad

[Bryan Weller]

I have listened to all the BP Podcasts and it seems like every one of them mentioned Rich Dad, Poor Dad. I figured, if everyone mentions it, I should read it. After being a third of the way through, I already understand what all the hype is about. However, I have to admit, I am one of those people who is not financially literate enough. I need to correct this.

What would you recommend to someone who wants to become far more financially literate? What books, blogs, sites or other learning devices would you recommend to help me gain that knowledge?

[Kyle Hipp]

In my opinion the Rich dad Poor dad series is very basic. It was actually what got me really into investing. I really learned a lot by just reading the daily newspaper on business so I could understand the world around me. I think Smart Money magazne and money magazine are very good at describing many things going on and understanding a lot of basics. I would really just read anything like that in order to get comfortable with the terminology of finance.

As for books, I would recommend Dave Ramsey's "The total money makeover". It is a step by step guide to the basics of personal finance. I really enjoy and endorse Rabbi Daniel Lapin's "Thou shall prosper". It is a breakdown of what business really entails through the religious lense. It is really enlightening and a breath of fresh air in a societt that seems to demonize anyone in business. If you are really determined you should easily be able to knockout a book a week. I recommend taking notes on the books. I did that and then typed the notes up and it really helped the concepts set in and bring about a deeper understanding. Once you get a couple of those memtioned by me and other just run to the local book store and brouse the business section until something peaks you interest. Keep up the good work.

Kyld