Weekend reading list (Nov.15-17)

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Nov 15, 2019
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Personal Finance, Investing, Credit Cards, Generosity, Behavioral Finance

Financial education

  • Inspiring story of Chloe McKenzie, founder of BlackFem, and her mission to bring finance education into disadvantaged communities (OZY)

Economics

  • Never thought I would see this in my lifetime...the U.S. is now a net exporter of crude oil (Axios

Story-telling

  • I'm a huge fan of Morgan Housel (here's our podcast) and his weekly releases on the Collaborative Fund blog. His latest is about storytelling and he crafts five story lines that he says running through economic history (Collaborative Fund blog

Subscription businesses

  • Easy to join but really, really hard to leave. Columnist highlights the hurdles in place to keep you locked into subscription services. (Medium)

Families and Money

  • Wondering why those family conversations about money are so difficult? We often use it as a tally of love, approval and fairness (NY Times; sub. required)

Buying a new car

  • Wonder what a new car actually costs to operate over a decade or more? JL Collins (on NGPF podcast) spreadsheets the annual cost of his 12 year old Subaru and has some interesting takeaways (JL Collins blog)

Charitable giving

  • Good reminder this Thanksgiving about the benefits of giving to charities (hint: it's not only about the tax breaks:) (Vanguard)

Books to Read

Research

  • Strong argument being made that those opening bank accounts at young age make a difference. Research published in Journal of Financial Economics shows that "Early life exposure to local financial institutions increases household financial inclusion and leads to long-term improvements in consumer credit outcomes."

Shout out to Abnormal Returns whose curation makes compiling weekly reads like this much easier. Thanks!

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.