Picture this situation: You’ve been to the library or bookstore. You’ve found a great personal finance book that seems to speak to your financial circumstances.
You’re excited to read it, yet there it sits on your bedside table. You’re a little intimidated to pick it up. It seems to be very information-dense, and it’s also going to challenge you to change some things you’re not sure you want to tweak.
The truth is that a book sitting on your bedside table isn’t going to challenge you to change anything about your life. The value of a good book comes from reading it, thinking about the ideas within and putting some of them into action in your life.
Here are six key steps for getting the most value out of that new personal finance book.
[See: Basic Money Lessons You (Probably) Missed in High School.]
Read a few pages at a time, then put it down. Attention spans today are shorter than ever, and for many people, a long reading session becomes difficult. You’ll start flipping through pages and not reading the text on the page. You’re far better off reading a book in small bite-sized chunks, then putting it aside for later. Try that approach. Read in five-minute or 10-minute intervals a few times per day, rather than in one big block. Read a short section, then put it aside. That way, you’re never bored or overwhelmed. Remember, this isn’t a race.
[See: 12 Ways to Be a More Mindful Spender.]
If you’re confused, stop and reread the last few pages. Whenever you realize you’re not fully understanding the financial concepts the book is outlining, don’t sweat it. It doesn’t mean you’ll never understand the book. It just means the book is introducing a new idea, one you’ll understand if you back up and give it another shot. Step back and reread the last few pages. You’ll find that the idea makes more sense. If it still doesn’t fully click, read that section again.
Look up any unfamiliar terms. Sometimes, you’ll hit a term the author assumes you understand, such as a particular type of investment strategy, but which you may not actually comprehend. If you read a word or phrase and don’t know what it means, stop and look up that phrase immediately. Many unfamiliar terms are easily explained with a simple online search, which will get you right back into the book with a lot less confusion.
Have a notebook and pen nearby. Whenever you read something that makes you think, or that you want to work on later, stop and grab that notebook and pen that’s nearby and write down that idea or task in your own words. Don’t copy it out of the book, or if you do, add your own thoughts afterward. Translating it into your own words and writing down those words make the idea stick in your head.
Make lists of action points for you to follow. If the section you just read clearly points you to an action or two that you should follow, write down that action as though you’re adding something to a to-do list. It can be useful to keep it distinct from your other notes in some way, such as by putting a big check box at the start of the task. This way, you’ll be able to quickly see what items on your list are actions you should take.
[See: 10 Big Ways to Boost Your Budget — Without Skimping on Your Daily Latte.]
Use those action points as a checklist. When you’ve accumulated a few action points, use that page of notes as a checklist of tasks you need to get done to improve your financial state. This isn’t about reading, this is about action. Turn all of those words you’ve read into accomplishments achieved in your life. After all, the real point of reading a personal finance book is to improve your finances, right?
Personal finance books can be powerful resources for improving your financial life if you use them as a tool for self-improvement. A good financial book can guide you to a better path, but it’s up to you to make that leap. Good luck!
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How to Get the Most Value From Reading a Personal Finance Book originally appeared on usnews.com
