The 10-Minute Reading Habit That Can Improve Your Financial Confidence
Research shows that many Americans don’t read a single book each year—yet reading is one of the simplest ways to improve your financial literacy and confidence. April is Financial Literacy Month, and it’s a powerful reminder that improving your financial literacy can start with one simple habit: reading.
Developing a daily reading habit is one of the easiest ways to expand your knowledge, strengthen your money mindset, and build financial confidence over time.
Financial literacy doesn't require a finance degree. Sometimes it simply begins with a few pages a day.
Why Financial Literacy Matters
Many people were never formally taught in school about money. So often we are sent out into the world with no idea how to balance a checkbook, how to plan for retirement and certainly not how to invest our hard-earned dollars in the stock market. There are quite a few individuals who feel left out and not in the know about “money”.
Financial literacy is critical for navigating complex economic landscapes, enabling us as individuals to make informed decisions about budgeting, investing, and debt management.
With knowledge, it can help you reduce your fear and uncertainty around money which can lead to better financial decisions. Financial literacy empowers people to plan for their future.
How can reading improve financial confidence?
Reading regularly helps improve financial confidence by expanding your knowledge, strengthening your money mindset, and introducing practical strategies for budgeting, investing, and debt management.
Woman reading financial book at home
The Benefits of a Daily Reading Habit for Financial Literacy
There are three potential benefits when you read often. Let’s cover them because I believe all of them can lead to your future prosperity.
1️⃣ Mental Benefits. Reading keeps your mind active and sharp; it also encourages curiosity and lifelong learning. With expanded knowledge comes a new perspective.
2️⃣ Emotional Benefits. Reading can be calming and relaxing, I typically do most of my reading as part of my nighttime shutdown routine. It helps create a quiet time on a typical busy day. Sitting down with a book or novel encourages reflection and personal growth.
3️⃣ Financial Benefits. Reading helps you learn more about developing spending plans (budgeting), investing (short or long-term), and debt management (getting out of debt and prioritizing your debt payoffs) - key areas of personal finance education. It helps by introducing new ideas, money mindsets and strategies that perhaps you haven’t heard of before or never considered. Studying new subjects and reading about real-life experiences not only builds financial confidence over time but it is absorbed with relatable examples.
Reading as Self-Care: A Simple Daily Habit
I hope many of you will agree that we can probably take a break from screens and social media. One of my favorite stress relievers is creating quiet, intentional time at the end of the day to sit in my lounger chair with a blanket and a book.
A daily reading habit allows your mind time to slow down and focus on written words, which really could be a wonderful form of self-care. It offers an immediate, accessible escape from daily stress, reducing cortisol levels and slowing heart rates.
Reading also acts as a mental break, potentially improving your sleep while fostering deep relaxation akin to meditation, and enhancing your emotional well-being.
Even ten minutes of reading can create a moment of calm on a busy day.
How to Build a Daily Reading Habit
Start with 10! Either reading 10 pages a day or 10 minutes a day is a great start. Consider keeping a book on your favorite chair or near your bedside as a reminder. Perhaps you read during your morning coffee or tea, compared to scrolling on social media?
Another way I get more books completed is by listening to audiobooks while I’m cleaning the house or driving. You could also take a walk or run with your favorite author to check off your daily reading habit. Podcasts have really grown and is another opportunity to get smaller nuggets of reading done compared to listening to a novel.
Start reading financial blogs or subscribe to money newsletters to add tiny snapshots of articles to your reading repertoire.
I encourage everyone to visit their local library as many not only offer books for checkout but audiobooks for downloading as well.
Best Financial Reading Resources to Improve Financial Literacy
Learning doesn’t have to be expensive, and there are so many different formats out there for you to explore. Here are some examples I recommend:
Looking for a place to start reading books? Check out my recommended list of 5 money books that can transform your financial confidence.
Financial blogs check out NerdWallet
Magazine articles I often find myself reading Fortune Finance
Newsletters you can find a variety based on topic, but one I found to be very informative is Fidelity Viewpoints
Podcast or audiobooks I 💓Suze Orman
Library resources are endless; you just need to go in-person and check them out
Financial literacy is built one small step at a time, and I hope you embrace reading is one of the simplest ways for you to grow.
Even a few pages a day can lead to new insights and confidence.
If you're a visual person like me, perhaps having a daily reminder to track your reading would be helpful? Download my READ10 printable today.
Financial literacy begins with learning. If you're ready to turn that knowledge into a clear financial plan, coaching can help you take the next step. Schedule your FREE 45-minute retirement clarity call and start building your financial confidence today.
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