Self-Education on Money

Posted By: Dr. Frugal in Saving on 06/05/2007 at 20:38:24

Since we don't always learn the basics of personal finance from our parents sometimes we need to acquire those skills on our own later in life. According to the Jumpstart Coalition for Personal Financial Literacy, the average high school graduate lacks even fundamental money management skills and a basic understanding of earning, spending, and saving money. Suddenly seeing people in their twenties and thirties having difficult makes more sense. By educating yourself on financial matters, you can avoid these mistakes and practice sound money management.

So how exactly do you go about doing that· You can start simply by doing online searches for things like money management on Google or Yahoo. There are also great magazines that offer sound advice like Kiplinger's, SmartMoney or Bloomberg. Admittedly, some of these magazines are focused more for more experienced investors but looking through these articles can be interesting. The subscription rates are relatively inexpensive as well.

Like practically anything else in life, your attitude will play a large part in your success or failure. Personal finances has a negative stigma in some circles for being boring or complex and while it can both of those things, for the most part people fear it simply because they've heard other people lamenting their situations. Rest assured you can in fact learn everything you need to know and you will find this knowledge exceedingly empowering as you take control of your financial future.

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