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4% of Americans Read Personal Finance Books
Yet people complain about being broke and other money probs
took a break from reading personal finance books, but I decided to dive back into it with a vengeance. Consequently, I’ve read 10+ books on personal finance in the past two weeks. What can I say? I’ve obviously been starving, and my appetite continues to voraciously grow.
But as I’ve been reading all of the finance books, I quickly realized most people aren’t reading personal finance books.
Ask the average person what they’re reading, and they’ll likely have one of two answers:
Nothing
An entertaining fiction book
Though there is nothing wrong with reading fiction or entertaining books (you can learn a lot from these books, they’re de-stressors, and reading in general is a productively positive activity), unless the fiction book has a lesson to be learned, it’s for pure entertainment, which is what we already consume in a more than enough quantity.
As the curious individual I am, I had some questions.
What percentage of people read?
What percentage of people read personal finance?
According to Yahoo, 4% of individuals read personal finance books.
According to World Rate, 55% of Americans spend their leisure time watching TV. 5% spend their leisure time reading.
So many people complain about their money problems, so why don’t more people read?
With the millions of books available on the market, you’d think more people would take advantage of the knowledge available.
Of course, these numbers don’t account for the people who are learning about personal finance from advisors, podcasts, videos, seminars, and other avenues.
But even with these available options, people have never binged personal finance resources like they did for all the Game of Thrones seasons.
It’s almost as if people are comfortable living with financial ignorance. – even though they desire to better their situations.
Society Has Mastered Learned Helplessness
“Seligman and Maier (1967) theorized that animals learned that outcomes were independent of their responses – that nothing they did mattered – and that this learning undermined trying to escape (National Institute of Health).”
Even when all the financial tools are available to many, they willingly flounder. It’s easy to accept mediocrity, and the longer you accept it, the harder it is to escape.
Just in the ten books I’ve read, I’ve been able to implement so many invaluable lessons of knowledge. I’ve been exposed to financial products I didn’t even know existed.
And guess what? I didn’t even have to pay for a single book. I borrowed them from the library.
Everything I learned was for free.
You have to pay for a TV provider service.
“According to the most recent data, 83 percent of consumers in the United States were using a subscription video-on-demand service in 2023, an increase of over 10 percentage points in five years. It is no secret that one of the most popular platforms (and certainly the one with the most U.S. subscribers) is Netflix.”
Most people watching documentaries aren’t watching educational documentaries like “Get Smart With Money.”
So What’s The Solution?
Easy. Consume more quality content if you want to shift your financial situation. The resources are available to transform your money.
Becoming financially successful isn’t a secret; the resources are ready for you if you give up your TV and social media sometimes.
And your financial education doesn’t have to come from books (though there are several quality and timeless books available). The goal is to learn in whatever format works best for you.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.