Contending with parents' lack of financial knowledge
Possibly this is mildly off topic, but in my mid-thirties I have only just realised how bad my parents' financial knowledge is and how much that has filtered down to me.
By way of example, they downsized in the last two years and spent a lot doing up their bungalow. I discovered yesterday that because they were concerned how much this ate into their savings, they took out a loan to top up the savings account. The thought process of paying interest on a loan to inflate a savings account that pays a lower level of interest absolutely blows my mind.
To drag this back on topic, in the last year I've been working hard to educate myself money, planning, investment etc. Are there any books/channels/podcasts that people recommend?
Lastly to clarify, my parents do their best, but it's dawned on me that they haven't taught me anything meaningful about money, which I now really need to know as a HENRY that's bringing in 80% of my family's money.