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Spouse motivated to learn about personal finance, where should she start?

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  • Spouse motivated to learn about personal finance, where should she start?

    My wife and I have recently started our professional lives and with that our income has increased significantly over the past year.  There has been a bit of a disconnect between us on what that means for our lifestyle and plans going forward.  She understands I spend time learning as much as I can to handle the financial aspects of our lives and that she hasn’t put time into these areas.  Yesterday she asked me where she should start learning the basics of personal finance. I am excited she is motivated to start learning and don’t want to mess up this opportunity to get us both involved in our financial planning!

    Outside of the Fire Your Financial Advisor course offered here (she was concerned about the cost), where should she start?

    Thanks for your help.

  • #2
    My first finance book was Smart Couples Finish Rich by David Bach.  It motivated me to learn more.  I have become the finance nerd now which saves my husband alot of time and lets him focus on his practice.  Happy reading!

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    • #3
      If she'll read books, that's always a good place to start: https://www.whitecoatinvestor.com/best-financial-books-for-doctors/

      If that's too expensive or your library doesn't have them, there are a lot of free blogs, forums, and podcasts including my own.
      Helping those who wear the white coat get a fair shake on Wall Street since 2011

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      • #4
        I don't know how to read (can't remember the last time I read a book), so I stick to online resources.  Read sites like this one that are high-yield and easily digestible, and if you *really* want to get into the weeds, go to the source material (IRS publications, fund prospectus, etc).

        I hear the DIY course that WCI is running is pretty great.  The $400 you'll spend should be easily saved within months.

        If you want things to be free, well...ask questions, and ask a lot of them, with the caveat that SGOTI is not always right...but again, RTFM and go to the source to verify what people are saying.

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        • #5
          Thank you for the info and replies!  I've sent her links to a couple of the books and podcasts.  She is already listening to the podcast (When to Buy A Home, if you are curious).  Thank you again for your time and help.

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          • #6
            "The Millionare Next Door: The surprising secrets of America's Wealthy" was the most influential book for us and really had a huge impact on my wife's way of thinking.

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            • #7




              “The Millionare Next Door: The surprising secrets of America’s Wealthy” was the most influential book for us and really had a huge impact on my wife’s way of thinking.
              Click to expand...


              +1 I made my wife read this way before we were married, probably in college.

              A little dated, but a classic.

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              • #8
                I think it recently got an update/revision (2010) so it may be a little more relevant.

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                • #9


                  If you want things to be free, well…ask questions, and ask a lot of them, with the caveat that SGOTI is not always right…but again, RTFM and go to the source to verify what people are saying.
                  Click to expand...


                  ok, I'm usually pretty good with acronyms but surely I'm not the only one who doesn't know what SCOTI stands for...or is it a medical thing?
                  Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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                  • #10





                    If you want things to be free, well…ask questions, and ask a lot of them, with the caveat that SGOTI is not always right…but again, RTFM and go to the source to verify what people are saying. 
                    Click to expand…


                    ok, I’m usually pretty good with acronyms but surely I’m not the only one who doesn’t know what SCOTI stands for…or is it a medical thing?
                    Click to expand...


                    Some Guy/Girl On The Internet.

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                    • #11


                      Some Guy/Girl On The Internet.
                      Click to expand...


                      Thank you. I've even managed to work out who Ygritte is, too.
                      Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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                      • #12





                        Some Guy/Girl On The Internet. 
                        Click to expand…


                        Thank you. I’ve even managed to work out who Ygritte is, too.
                        Click to expand...


                        You know nothing, Johanna Turner.

                        ...she and Jon Snow are engaged in real life, interestingly enough.

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                        • #13
                          this is great news.  a spouse on the same page can make all the difference!  I would suggest to spring the money for the course.  If the course had been available when I started this learning almost 2 years ago now, it would have been so much more efficient and easy!  Instead of reading a book about each topic, it looks like WCI has wrapped it all up neatly into one course.  I think I have already read too many books, blogs, posts, podcasts to really benefit now.

                          Otherwise, it is hard to tell you where to start without knowing where you are now.  A budget (or track spending) is the first step.  If she is not into taking the course, then start working through the WCI beginner list and the course outline reading as much as you need to get the concept then move on to the next step.  That is what I have done, but like I said it has been time consuming and not exactly a straight path.

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                          • #14
                            WCI blog, forums, etc. are good.  Bogleheads wiki is also a good resource.  The getting started page is a good place to get started   .

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                            • #15
                              You can find my advice on my Do-It-Yourself Personal Finance Page.  I have recommended books, websites, and forums. This is where I direct people.

                              It's great to be on the same page, and extremely encouraging that your spouse wants to learn this stuff!

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