Financial Education

Wise Ideas from Morgan Housel’s Book The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness

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Reading Time: 9 minutes One of the better books about financial education that I have read is Morgan Housel’s book, The Psychology of Money: Timeless lessons on wealth, greed, and happiness. This book started as a blog post that can be read here. Some sharp insights in this book struck me, and I will discuss them in more detail in the following paragraphs.  Investing is not the study of finance but how people behave with money The premise of this book is that doing well with money has little to …

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Letters to my Daughter: Myths and Tips to Strategically Distinguish Between Careers and Passions

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Reading Time: 10 minutes My dear daughter, you are still so incredibly young. But no sooner than I catch my breath for one moment and puff, you will be quickly wondering: what should I do with my life? What job should I pursue? Should I follow my passion? After all, isn’t what they say “choose a job you love, and you will never have to work a day in your life”?  No, my dear daughter, following your passion is terrible career advice. Focus instead on building rare and valuable …

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The National Bank of Parents: a Simple Financial Education Strategy for Children

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Reading Time: 10 minutes I talked in Letters to my daughter: Build your “f*ck off” fund article about the importance of financial education from an early age.   In this article, I will present our strategy to teach our four and a half-year-old daughter how to manage her money responsibly. Most of this strategy is based on The First National Bank of Dad: The Best Way to Teach Kids About Money book written by David Owen. He introduced this strategy to his children, aged six and ten at the time. Once a child can …

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Letters to my Daughter: Build Your “F*ck Off” Fund

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Reading Time: 3 minutes It is true what they say. Money does not bring happiness. Money buys freedom. Freedom to leave a job. Freedom to manage an economic recession. Freedom to take a leave when you feel burned out. Freedom to leave a country. Freedom to own a house. Freedom to leave an abusive relationship. My daughter, having your own emergency fund should be your top priority. You are buying a part of your freedom with an emergency fund. Read this article that renamed emergency fund to a …

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