The founding principle behind All Things Finance is this: as a financial advisor JW recognized the financial illiteracy that is rampant in this country. Therefore the need for financial education is immediate. Not just for the novice, but even for someone who regards themselves as a seasoned investor. We like to grow—and want to. If we want to know how to make our money grow, for today, tomorrow or retirement, we must educate ourselves financially.
Like anything, we can grow sharper, stronger, and wiser at it. All Things Finance is beginning the series Make Your Money Grow with step one: Educate Yourself Financially.
If a person wants to have a bright financial future, where do they go to learn how to do so?
First determine if you are a:
- Novice—You know you’re a beginner because you don’t understand financial vernacular. Don’t feel bad, everyone starts here!
- Intermediate—You have a grasp about saving, frugality, investing and retirement planning. But you’re not yet putting this knowledge to use or don’t know how to begin the first steps of how to make your money grow.
- Advanced—Your wealth is growing.
Or you may put yourself in one of these categories:
- In debt—I’m struggling financially and badly need a win streak.
- Healthy financially—I’m earning money and am frugal.
- Bringing-home-the-bacon—your career of choice or investments are bringing in significant currency. But people have been here before and have burned through it—do you know how to make your money grow so you don’t end up broke like Mike Tyson?
Whatever your situation, we suggest you start with the following steps to learn how to make your money grow:
1. Get guidance.
Maybe this is in the form of a mentor. Maybe it’s in the form of a financial advisor. If you choose to do the latter, you should also do the former.
Even a smart investor like Warren Buffett needs other eyes and perspectives to help him make solid financial decisions.
2. Filter your choices
Filter your choices through your advisors and/or mentor. And filter it through your growing financial literacy. If you’re a beginner or are in debt, don’t make any financial decision by quickly pulling the trigger.
3. Learn about yourself.
Whether you’re in debt or are wealthy, we all have tendancies that can be destructive. An in debt person may be stuck in a cycle of impulsiveness. A wealthy person may be impulsive as well—and could burn through their wealth by making bad financial investments.
4. Increase your financial literacy
If you want to know how to make your money grow, it may start with frugality lessons. There are lots of pop masters out there like Suze Orman and Dave Ramsey (who’s courses I have not personally taken so I’m not specifically endorsing them).
For a person who’s frugal and has the basics down, everyone from Scottrade to eTrade to TD Ameritrade to Options House holds free online (and sometimes in person) live seminars. Go to any of their websites and look at their list of free webinars. You can easily start at the beginning and educate yourself with the stock market basics.
How to Educate Yourself At All Things Finance
1. Financial Calculators
We have compiled an immense number of financial calculators for you to use—for FREE.
In order to start knowing how to make your money grow you’ve got to first figure out where you are at today. And what trajectory you’re on for 20-40 years from now. Without seeing your current finance status, you won’t be able to plot a course.
2. Categories
Checkout our Categories listing and click through to the subjects that are less familiar to you. This is a great way to read through some basic as well as advanced financial groundwork.
3. Infographics
It always helps to get a visual snapshot of how to make your money grow. The infographics on All Things Finance are for both the advanced and aspiring.
How To Make Your Money Grow Series
Keep coming back every week for the next step in How To Make Your Money Grow. And make sure to start out by increasing your financial literacy!
To be continued…
[Feature image courtesy of http://dribbble.com/pellvetica] [Mike Tyson cartoon image courtesy of http://dribbble.com/pellvetica]