Jobs that will develop financial literacy skills

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Jobs that will develop financial literacy skills

Joseph Hartley
Arlington, TX · Member since 2020 · 19 posts · 5 votes

Hello!

My name is Joseph Hartley, and I’m just starting out my journey in real estate. I’ve been learning a lot about house hacking, and I’m seriously considering purchasing my first house to rent out soon. However, I’ve come to realize that I don’t know much about personal financing or management, and I wanted to develop these skills while earning income. What types of jobs would I be able to take out of high school that’s would allow me to develop these skills?

Thank you!

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Bill HamptonBusiness Member
Accredited Investment Fiduciary, AIF®, Financial Planner, Tax Strategist, Real Estate Investor · Atlanta, GA · Member since 2012 · 2k+ posts · 977 votes
5y

Joseph, you don't have to get a job to learn financial literacy.

There are books at the library or online, magazines like Kiplinger's, websites like Nerdwallet, and the Bigger Pockets Money Podcast where you can learn for free. 

On Google and YouTube can learn anything. 

Good luck. 

404-482-3170
Hampton Tax and Financial Services LLC4.7106 Reviews
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  • Bill HamptonBusiness Member
    Accredited Investment Fiduciary, AIF®, Financial Planner, Tax Strategist, Real Estate Investor · Atlanta, GA · Member since 2012 · 2k+ posts · 977 votes
    5y

    Joseph, you don't have to get a job to learn financial literacy.

    There are books at the library or online, magazines like Kiplinger's, websites like Nerdwallet, and the Bigger Pockets Money Podcast where you can learn for free. 

    On Google and YouTube can learn anything. 

    Good luck. 

    404-482-3170
    Hampton Tax and Financial Services LLC4.7106 Reviews
    WebsiteView Page
    3Reply
  • Joseph Hartley
    OP
    Arlington, TX · Member since 2020 · 19 posts · 5 votes
    5y

    @Bill Hampton

    That’s awesome to hear! Thank you for the resources! I was asking because I currently don’t work, and I was going to see if it was worth working a job that would teach me some of these skills, or if it would be better for me to find a job and learn the skills on the side.

    1Reply
  • Justin V.
    Rental Property Investor · Minneapolis, MN · Member since 2016 · 214 posts · 132 votes
    5y

    @Joseph Hartley

    Mint.com and credit karma really helped me learn financial literacy. Also need wallet.

    1Reply
  • Mark S.Pro Member
    Rental Property Investor · KY · Member since 2013 · 1k+ posts · 537 votes
    5y

    @Joseph Hartley, do you have other income sources?  Unless you’re paying cash or using some other sort of creative financing (which I would assume you aren’t), how are you planning to qualify for a conventional loan with no job?  Or are you waiting until you’re employed?

    @Scott Trench ‘s book Set for Life is excellent.  If you want information overload on all financial topics, Ric Edelman has some books.  Depending on what you’re trying to learn, which sounds like basic personal finance info, I would check out podcasts like ChooseFI and BP Money.  

    0Reply
  • Michael Noto
    Real Estate Agent · Southington, CT · Member since 2008 · 5k+ posts · 3k+ votes
    5y

    As others have said use online resources. In the end, financial literacy and being financially responsible is very basic, but sticking to those basics is where people stumble. Like with a lot of things, reading about it is the easy part, executing is hard. 

    1Reply
  • Whitney HuttenPro Member
    Investor · Boulder, CO · Member since 2016 · 1k+ posts · 1k+ votes
    5y

    @Joseph Hartley No job needed!  Some great books have been mentioned already. I'll add Cashflow Quadrant (personally, I feel is way better than Rich Dad Poor Dad), and The 5 Day Weekend.  Forming great habits at a young age will be super important, so I'd add in The One Thing as well.  And I think all new graduates should read The Third Door before launching into school and a career..

    Podcast Guest on Show How to Build Generational Wealth Without Losing it Along the Way
    0Reply
  • Joseph Hartley
    OP
    Arlington, TX · Member since 2020 · 19 posts · 5 votes
    5y

    @Mark S. I’m waiting until I have a stable job to start, but I was going to see if I could learn about some of the skills needed to house hack while working. Thank you so much!

    1Reply
  • Joseph Hartley
    OP
    Arlington, TX · Member since 2020 · 19 posts · 5 votes
    5y

    @Michael Noto I totally agree. I’m working on exactly that right now. Thank you!

    0Reply
  • Joseph Hartley
    OP
    Arlington, TX · Member since 2020 · 19 posts · 5 votes
    5y

    @Whitney Hutten Thank you for the awesome suggestions! I’m finishing up Rich Dad Poor Dad right now, and I’ll probably shift over to Cash Flow Quadrant soon!

    0Reply
  • Joseph Hartley
    OP
    Arlington, TX · Member since 2020 · 19 posts · 5 votes
    5y

    @Justin V. I haven’t heard of Mint.com, but I’ll see what it’s about and give it a shot. Thank you!

    0Reply
  • Tamara Jones
    Rental Property Investor · Sacramento, CA · Member since 2020 · 1 post · 1 vote
    5y

    @Joseph Hartley if you can't afford full price e and don't mind kindle or audio versions, you can get a lot of book for good prices. Also, libraries are good resources but sometimes there are holds on the books and you have to wait a bit

    1Reply
  • Bonnie LowPro Member
    Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
    5y

    @Joseph Hartley you already have the two most important elements of financial literacy: awareness and willingness to learn! I'm not even joking. So many people - of all ages - don't take their finances seriously and wonder why they can never get ahead. Huge props to you for recognizing this on your own at such a young age and pursuing the knowledge. It's too bad we no longer teach about finances in schools - not that it was ever covered much - but my 19 year old son says the same thing. He also wants to get into investing and the more he learns, the more he's frustrated with traditional education. Learning by doing is so overlooked. With your interest level and your willingness to put yourself out there I would highly recommend you start going to local Real Estate Investor Association (REIA) meetings in your area. They're usually free and commonly held at a local restaurant or meeting area. You might feel out of place because you're so young and so inexperienced, but most investors I know would love to take someone young and earnest under their wing and help in any way they can. You might find someone you can work for to soak up some knowledge and get your feet wet. You might find a mentor. You might find a future business partner. At the very least you'll make some good connections with Realtors, lenders, contractors and other investors - all of which will prove invaluable to you. I have a feeling whatever you decide to pursue you'll do well, so go get it!

    [email protected]
    1Reply
  • Dan SheeksPro Member
    Rental Property Investor · Denver, CO · Member since 2016 · 621 posts · 362 votes
    5y

    Hey @Joseph Hartley

    Congrats to you for your ambition! I work with a bunch of young aspiring real estate investors just like you, and I am willing to help you out with some advice or even chat on the phone if you wish. But I first recommend you read this article I wrote for Bigger Pockets titled How to Invest in Real Estate Before Turning 21. Once you've read it, let me know your thoughts and if you have any questions. I am a high school teacher in Colorado and I am always looking to help young people get started in real estate investing or help in any way I can. Let me know if you want to chat sometime. https://www.biggerpockets.com/

    [email protected]Podcast Guest on Show #179
    1Reply
  • Drew Bursey
    New to Real Estate · Tasmania · Member since 2020 · 29 posts · 10 votes
    5y

    @Joseph Hartley

    That is a good question, a lot of people think they should get a job to be secure and don't learn anything from their job. We should always be learning.

    Like the other BP members said there are great books available. Real estate investing specific books I would recommend include "the book on real estate investing" and "investing with no (or low) money down" by Brandon Turner and "long distance investing" by David Greene and any other book on the BP bookstore.

    If you haven't read "Rich Dad Poor Dad" by Robert Kiyosaki I would highly recommend it.

    In the book he talks about not taking a job for money but for the skills you will learn.

    Robert says "your mind is your greatest asset" 

    Read, read BP forums, attend webinars, watch youtube videos and listen to podcasts about real estate and you will learn a lot!

    An example of this would be to find a job in sales to learn how to be a better salesperson if you wanted to start your own business. By taking a sales job, that company would train you to be a better communicator/salesperson. It's much easier to be taught to be a salesperson than try and fail.

    That being said, the things we learn from most is our mistakes. In order to grow and improve, you will make mistakes. When you make mistakes, it's extremely important to reflect to improve yourself so that you don't do the same mistake again.

    Best of luck!

    1Reply
  • Grace Wang
    Realtor · Denver, CO · Member since 2018 · 227 posts · 241 votes
    5y

    @Joseph Hartley If I were in your position, I'd look for salaried jobs that are not extremely intensive and involved (perhaps admin related, support role, etc) with day-to-day tasks. I say this because once you get in a groove with the job, you'll be able to get tasks done quickly and have more downtime. Now with that downtime, you'll be able to read up on blogs, personal finance articles, listen to podcasts/audio books, browse the BP forums and set up phone calls with others through BP. After work hours, you can chat with those you set up phone calls with. And as for being salaried...my guess is you'd be able to qualify for a loan more easily, which would in turn would get you into you first house hack much faster.

    The best way to learn about personal finance and real estate is just getting started. House hacking, specifically, is great because you get to live and breathe landlord life by living amongst your tenants; you learn so much over the course of a year. The longer you wait, the sooner you'll wish you started! No job will teach you as much about these things as self education will. Hope that helps!

    2Reply
  • Cole Gartmayer
    Member since 2020 · 2 posts · 1 vote
    5y

    @Joseph Hartley I have recently started this journey as well. Some good literature for outlining the basics of financial literacy are Rich dad poor dad & Cashflow quadrants.

    As far as jobs go, permit runner might be a good option. You will be able to building relationships and knowledge about your local building departments as well as network with contractors & developers while filing permits. They tend to be pretty flexible with hours and you can learn how to manage a project throughout its lifetime.

    1Reply
  • David Richter
    Real Estate Consultant · Member since 2018 · 99 posts · 50 votes
    5y

    Hi @Joseph Hartley,

    I would look to work with a real estate investor and help them grow their business while you learn the skills and let them know that you want to learn all you can while helping them so you can do deals too. Also read Profit First on how to manage the finances in a super simple and easy way.

    Hope that helps!

      1Reply
    1. Joseph Hartley
      OP
      Arlington, TX · Member since 2020 · 19 posts · 5 votes
      5y

      @Bonnie Low thank you so much! I honestly don't know why a personal financing course is not required in high school, at least in Texas. It's pretty overwhelming starting out, and I've made it a big goal to go to networking events and (hopefully) get a mentor. I'll definitely be attending my local REIA meeting thank you for mentioning that! Glad to hear your son is taking initiative as well :).

      1Reply
    2. Joseph Hartley
      OP
      Arlington, TX · Member since 2020 · 19 posts · 5 votes
      5y

      @Dan Sheeks thank you! I’m loving the process of just learning about it, and I’ll definitely read that article. I hope classes are going smoothly with COVID!

      0Reply
    3. Joseph Hartley
      OP
      Arlington, TX · Member since 2020 · 19 posts · 5 votes
      5y

      @Drew Bursey thank you for the book suggestions! I actually have read Rich Dad Poor Dad, and that encouraged me to post this about finding jobs to learn new skills!

      0Reply
    4. Drew Bursey
      New to Real Estate · Tasmania · Member since 2020 · 29 posts · 10 votes
      5y

      @Joseph Hartley I thought you did (based on your post). If you're looking for a job, I would recommend looking to get your feet wet in some sort of sales. If you're able to get a company that teaches you to sell, that will help you for sure. 

      What is a sales job?

      I'm not sure exactly what that will look like for you. If you're actively looking for a job, I would try to find a job that will teach you something. If you just got a new job, I would suggest that you stay with your current job. You're going to be learning in any new job.

      Never stop learning!

      1Reply
    5. Joseph Hartley
      OP
      Arlington, TX · Member since 2020 · 19 posts · 5 votes
      5y

      @Grace Wang thank you for the response! As a full time college student, I wouldn’t want to work full time, but do you think I would have to if I wanted to qualify for a loan? Do lenders only consider full time jobs when considering someone for a loan?

      0Reply
    6. Joseph Hartley
      OP
      Arlington, TX · Member since 2020 · 19 posts · 5 votes
      5y

      @Cole Gartmayer thank you for the book and job suggestions! Although I’ve read Rich Dad Poor Dad, I’m definitely looking into Cashflow Quadrant. I’ve never heard of permit runners, but I’m open to any suggestions regarding opportunities to learn. Thanks!

      0Reply
    7. Joseph Hartley
      OP
      Arlington, TX · Member since 2020 · 19 posts · 5 votes
      5y

      @David Richter thank you for the suggestions! It definitely helps a lot, and I’m doing just that right now. I’m trying to seek a real estate investor in the Dallas/ Fort Worth metroplex that I can work for for free; just allow me to learn from them in the process!

      1Reply
    8. Joseph Hartley
      OP
      Arlington, TX · Member since 2020 · 19 posts · 5 votes
      5y

      @Drew Bursey thank you! Would you consider working for a real estate investor going into sales? I’ve offered to work for a real estate investor in my area for free as long as I get to learn during the process.

      0Reply
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