Tuesday, January 13, 2009

Understanding Personal Finance

Understanding your own finances is a underdeveloped skill for most people. We are more concern with clipping coupons and trying to find deals on groceries, than looking at the bigger picture of our personal finance. Don't get me wrong, saving a few dollars a week on groceries is important, but it's a drop in the bucket if you are getting charged an extra $100.00 a month for a high interest credit card. The effort it takes to find a good deal at the store, could just as easily be applied to switching to a lower interest card. Similarly it doesn't make sense to save money in a high yield savings or invest in the stock market if you have revolving credit card debt. You could be monitoring the price of gas, waiting for the best deal, but still be oblivious to a huge tax rebate or deduction. Saving a dollar here and a dollar there is good, but understanding your finances could save you thousands of dollars in the long run.

Helpful Resources
Below are some resources to help get a better grasp on your money. Learning to understand your own finances is not as scary as everyone thinks.
learning about finance can seem overwhelming, and you don't have to become an expert overnight. It is definately worth it, since just learning one thing may save you a lot of money.

1 comment:

Rishabh Kaul said...

Hi Dan,

My name is Rishabh and I am working with Ramit of I will teach you to be rich. On knowing that you had linked to his site, he wanted to thank you.He has made a personal video thanking you that he'd like to share with you. I was unable t find a contact form or an email address of yours and hence decided to comment to try my luck.

Do get back to me at rishabhkaul@gmail.com

Regards,
Rishabh