Most people avoid financial education — reading could be your unfair advantage
Why Financial Education Habits Matter
Financial education habits shape your future, but here’s the problem: almost no one builds them. According to Yahoo, 96% of Americans don’t read personal finance books. That means nearly everyone is leaving their financial growth up to chance.
Think about it — ask the average person what they’re reading right now, and the answer will usually be either:
- Nothing at all
- A fiction book for entertainment
There’s nothing wrong with fiction — it’s relaxing and can even be inspiring. But if your reading diet never includes money or wealth-building knowledge, you’re missing the very thing that could change your financial trajectory.
Reading Statistics That Reveal the Problem
Let’s zoom out:
- 96% of people never touch personal finance books
- 55% of Americans spend their leisure time watching TV
- Only 5% spend leisure time reading
That’s a big gap. With millions of books and resources available, why are so few people taking advantage?
Sure, not everyone learns through books. Some pick up lessons from podcasts, seminars, videos, or financial advisors. But even then, binge-watching Netflix still outranks binge-learning about money.
Financial Education vs Entertainment
Society has created a culture of distraction. Entertainment comes first, and financial education — if it happens at all — sits in the back seat.
- In 2023, 83% of U.S. consumers used a video-on-demand service
- Netflix leads the pack, with tens of millions of subscribers
- But most of those same people wouldn’t sit through a documentary like Get Smart With Money
It’s easier to be entertained than educated. But here’s the consequence: financial ignorance compounds just like debt.
Learned Helplessness and Money
The National Institutes of Health once summarized Martin Seligman’s research on “learned helplessness.” It showed that when individuals feel like their actions don’t change outcomes, they stop trying.
That’s what happens with money. People flounder, not because tools aren’t available, but because they’ve convinced themselves nothing will change.
But here’s the truth: you can borrow a personal finance book from the library for free. You can swap one hour of TikTok for a money podcast. You can trade in just one Netflix binge for a wealth-building seminar.
How to Build Better Financial Education Habits
The solution is simple: consume more financial education. If you want to shift your money situation, you need to feed your mind with content that actually teaches you.
It doesn’t matter if it’s:
- Books
- Podcasts
- Seminars
- YouTube videos
- Articles
The format doesn’t matter. What matters is that you consistently upgrade your knowledge. Financial success isn’t a secret; it’s a skill set you can learn if you choose to prioritize it.
Financial ignorance is expensive. Financial education is free — if you’ll claim it.
Financial Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always do your own research and consult with a licensed financial advisor before making investment and financial decisions.