April is National Financial Literacy Awareness Month! Statistics show that only 24% of millennials have basic financial literacy knowledge. Regardless of your age, NOW is the perfect time for you to decide to take control of your finances. Understanding your finances and money management are essential tools for success. Over the last couple of weeks, several people have asked me, “WHERE DO I START??”.
Well… here are some good places to begin your financial awareness journey:
Search the internet – this might sound pretty basic, but it works. Do you have a particular topic that sparks your interest? Debt Management. Credit Report. Investing for Beginners. GOOGLE IT! The world wide web is a great resource tool which is available to most 24/7 by using his/her cell phone. Top financial education sites:
Read books, articles and magazines. Picking up a book, financial magazine and/or newspaper is another great way to increase your financial literacy, and these are typically more credible sources than what you may find searching the internet. Top picks:
- Forbes Magazine
- Money Magazine
- Wall Street Journal
- Rich Dad Poor Dad by Robert T. Kiyosaki
- Money: Master the Game by Tony Robbins
Watch finance based television programs. Reading isn’t everyone’s cup of tea, but don’t let that stop you from increasing your financial knowledge. There are several television programs that will provide you with the tools you are seeking. Top picks:
- CNBC TV
- Bloomberg TV
- CNN
- Fox Business News
Listen to talk radio/podcasts – Personally, I’m an avid reader, but lately podcasts have become my go-to. With the daily demands of life, it is often hard to sit down and focus 100% of my time to reading. For those individuals who are often on-the-go, podcasts are the ideal solution. I often listen to my shows while driving or while I’m working. Top picks:
- The Clark Howard Show
- Listen Money Matters
- The Dave Ramsey Show
- Stacking Benjamins
Take a financial literacy class – You can often find personal finance classes offered at your local public library. If your local library does not have classes available, then you may be interested in enrolling in a course at a 2 or 4 year college. Depending on the school, you may be able to find an online course which will enable you to learn from home.
Start and investment club – Starting an investment club can have multiple benefits (networking, accountability partners, increased capital for investing, etc). Whether it be for the purpose of increasing your knowledge around personal finances or actually investing (real estate and/or stock market), being around like-minded individuals is always a plus. I will caution you to vet all individuals when it comes to investing your money with a group.
… and last, but definitely not least.. THE MOOLAHTTÉ BUZZ™ *sips latté* .. this site was created for the purpose of increasing financial literacy by sharing the wealth of knowledge I’ve gained over the last decade from books, mentors, and personal experience.
Please comment and share your favorite books, TV programs, and podcasts below!!
Great tips!