Personal finance is something many of us know little about. Sure, we pay our bills, save some money, and maybe invest a bit. However, in order to thrive financially, it’s important to really understand the power of money and our relationship with it, along with how it works and what it can do for us in the future. This post will give you a quick view of the importance of personal finance and how you can start educating yourself about it in order to manage your own financial future.
Why Personal Finance Is Important
When you understand how money works, you’ll have a better idea of how to manage your own supply of it. This will give you peace of mind and security that you’re doing all you can to put yourself in a good position. You’ll also be able to take charge of your finances. Knowing the value of a dollar and how it works will give you the incentive to truly save all you can and make wise choices regarding your spending.
Things to Know
At this point, you may feel like you don’t even know where to start. That’s okay. It’s never too late to learn. There are some basics everyone should know about personal finance. These include things like how to save and how credit works. You should also be aware of the way credit works and where you can find information about your credit report. Debt is an issue many of us avoid but shouldn’t. It’s important to know how to best pay it down. You also need to understand how to plan for your future. Things like retirement planning, choosing the best insurance, and estate planning matter.
Where to Learn More
There’s no need to feel overwhelmed when it comes to learning about personal finance. There’s information at your fingertips with a quick Google search. You can find all sorts of websites, blogs, and podcasts to help educate you about money. Here are some good ones to start with:
Websites
- Kiplinger.com
- WiseBread.com
- CashMoneyLife.com
- MyMoney.gov
- BankRate.com
- CreditCardForum.com
Blogs
- Get Rich Slowly
- Budgets Are Sexy
- Money Under 30
- Frugal Rules
- Free Money Finance
- Everything Finance
Podcasts
- The BiggerPockets Money Podcast
- So Money
- Function
- Planet Money
- InvestED Podcast
- HerMoney
As you can see, there’s a lot to learn about personal finance. Fortunately, there are also tons of places you can learn about all sorts of money topics for free. Take some time to get started, and you’ll start to see what a difference that knowing how money works can make in your life.
