Gifts for graduates. We can all use good ideas for the graduates in our lives, whether college graduates next month or high school graduates soon afterward.
What about a book?
Recently, John Maddison of Balentine visited my classes to talk with Wake Forest students. Among his many responsibilities, John’s firm tasked him with reviewing books on financial literacy that would be appropriate for today’s young adults. John was looking for an author and an approach that he thought might resonate with today’s older teens and young adults as they learn to manage money, credit cards, debt, and budgets.
John found Ramit Sethi’s personal finance guide to be relevant, wise, and modern. He recommends the book for today’s young adults and for those who care about them. After his visit to our class, I read the book myself, and found it insightful, helpful, and even fun. Several of my students have also read and learned from the book already, and they still have accounting homework to do!
John also writes blog posts for Balentine, by the way. Here’s a link to a relevant one for those young people in your life.
Would you rather be sexy or rich? The truth is that the vast majority of young people don’t need a financial adviser to help them get rich. We need to set up accounts at a reliable no-fee bank and then automate savings and bill payment. We need to know about a few things to invest in, and then we need to let our money grow for thirty years. But that’s not sexy, is it?
A lasting gift
If you have a young person in your life who is starting on the journey to adulthood, take a look at this book and see if you think it’s a good fit for them. In our family, our sons are now in the 11th and 9th grades, and this book will be terrific in the future, but not yet. Even though they’ll need its insight later, some ideas are already relevant for them, so I’m glad I already have a copy for reference in the house.
So. Gifts for graduates? You can always give them money. Or you can help them learn to manage their own money, for life
People love to argue minor points, partially because they feel it absolves them from actually having to do anything. You know what? Let the fools debate the details. I decided to learn about money by taking small steps to manage my own spending. Just as you don’t have to be a certified nutritionist to lose weight or an automotive engineer to drive a car, you don’t have to know everything about personal finance to be rich….You do have to know how to cut through all the information and get started.