I am currently a 17-year old Student with no major source of income being supported by my parents. I would like to learn about Finance and managing money, a skill which I hope will help me in the future.
To begin with, I am confused about the resources to refer to. There are so many books on finance out there that I don't know which one to pick. The main question I have: How should I go about accumulating my knowledge in this field? A few ideas regarding this are:
- Pick up a few school textbooks on Commerce, Economics, Business studies and Accounts from my friends; These follow the school curriculum in India for high school (11th and 12th grade, ISC education board). I do not know how much practical application information from these textbooks will have in my future life, which is why I am hesitant to do this.
- Chart out my own syllabus and topics of interest to read, which will be handy in the future. Then acquire a set of books to study these topics. I am currently leaning the most towards this option.
- Do nothing about it and let experience be the teacher: this is the option I choose not to pursue, which is why I'm here
My current knowledge level:
I know the basics of banking, compound interest, loans, stocks, savings etc.
What I would like to learn
A deeper insight into the above topics as well as Accounting, Asset Management and Investing
A few book recommendations I already have:
- The Intelligent Investor - Benjamin Graham
- Securities Analysis - Benjamin Graham
- Options, Futures and Derivatives - John Hull
- Margin of Risk - Seth Klarman
Which path out of the above three would you recommend for learning? Also, would you make any changes to the above booklist? Are there any books that give a greater insight into the fundamentals of money? How money works, the cash flow of the world, socioeconomic impacts of money etc.
Apologies if this is a soft question: It may be closed by the moderators in that case. Thank you for any further advice.