If you're new here, you may want to learn what this site is about. I encourage you to subscribe to my RSS feed. Thanks for visiting!
How much do you know about money?
Have you learned about the power of compounding? Do you know how the stock market works? What is a bond? Can you tell the difference between an Income Statement, a Balance Sheet, and a Cash Flow Statement? Do you even know why you would want to?
Do you know how to keep a budget? Do you understand how your taxes are used and why we pay them? Do you know what it takes to purchase a house? How much insurance do you need? What’s an index fund and how do you purchase one?
April is U.S. National Financial Literacy Month. (It’s also state Financial Literacy Month here in Oregon, and in many states around the country.)
Get Rich Slowly is going to focus on financial literacy this month. You and I are going to learn together. Though I write about money, I’ve never taken the time to educate myself on the basics. I’ve developed a degree of financial literacy, but it’s not nearly what it should be. I haven’t scripted this — I don’t have an agenda. I’ve found a series of short videos to share with you, but everything else is going to be an adventure. I welcome your suggestions and contributions.
Financial literacy can be a boring subject. It’s dry information, but it’s important. I’ll do my best to keep things short and lively, opting to provide links to additional resources rather than drone endlessly about commodities and Roth IRAs. Please: if you have questions, ask.
.jpg)

April 2nd, 2007 at 9:43 am
Well, I know that I need to learn about asset allocation. I’m not sure if thats what you’re envisaging in your financial literacy month though.
April 2nd, 2007 at 9:58 am
This will be a great review, and I’m looking forward to it!
April 2nd, 2007 at 10:42 am
I think this is a great idea that you are trying to educate all of us on this subject. Blogs like ours are always trying our best to write articles to help the public understand this complicated, boring but important subject.
Take me for instance, I started my blog since it seemed like it was a fun thing to do but as I got more into it, I developed a sense of mission to try to help the general public learn how to increase wealth. There are a million ways to do this and most people probably don’t know how and they don’t practice them even if they did. I wish you luck and I look forward to reading your posts!
April 2nd, 2007 at 11:28 am
I’m a huge fan of the subject. I love to learn and help others out with what I know. I’ve written about some of the basics here.
I look forward to hearing what you have to say. We may not all agree, but that’s what makes it interesting.
-limeade
http://fiscalmusings.blogspot.com
April 2nd, 2007 at 1:24 pm
Budgeting. That’s what I need to learn better. I know my problem better than I know the solution. I overthink everything and want to get into such intricate detail that I never get around to the basics. I’m too busy trying (and failing) to track every penny I spend that I never get to the part where I examine my expenses, write a reasonable budget, and follow it.
My salary has increased 43% in the last 3 years, and I still have the same amount of money saved. That’s ridiculous.
April 2nd, 2007 at 2:04 pm
Terry, you might want to start by looking into what you’ve spend more than 3 years ago. If you are just buying more items, the “cure” is different than if you were buying the same number but more expensive versions of them (ie different car, TV etc).
Just remember that knowing is the first step in the fix and don’t give yourself excuses like “I’m too busy” since it doesn’t take more than 5 minutes a day to keep track of the expenses once you have the spreadsheet setup.
You are welcome to contact me if you think discussing with someone about it will help. Just let me know.
My Own Million Blog
April 2nd, 2007 at 2:04 pm
I need help understanding the stock market!
I am a 20-something who in the past couple of years is finnaly getting her personal finances under control. I have a budget we stick to, we have successfully been contributing to our savings regularly, and we both contribute to our retirement funds.
I feel like the next step is investing some of our savings in the stock market, or bonds, or whatever. But I have no clue where to start. I need a beginner’s crash course, and some advice on where to go to find out more in-depth.
Thanks!
April 2nd, 2007 at 5:30 pm
Saving money has always been an issue for me, and I also don’t have very much financial literacy- I’m looking forward to this month!
April 2nd, 2007 at 7:52 pm
I’d like to know more about how stocks actually work. I understand that they do work, but when I tried to convince my girlfriend to start investing, she was scared by the “magic” of interest. I had no way to actually explain to her how investing actually makes her money, and why it’s not something crazy that will devour her savings.
April 3rd, 2007 at 5:06 am
Stocks is pretty simple. When you buy stock, you buy ownership of a company. It’s no different than buying the local coffee shop from the previous owner and taking the profits as your income. The only difference is that you and millions of other people collectively own the company. Your share of the company increases in value as the company’s economic output increases — and the company’s increase is usually tied in some fashion to the country’s/world’s increase in economic activity.
Why economic activity increases — well that’s a whole subject in itself. Suffice it to say, economic output has been increasing since the dawn of civilization. So while you can’t guarantee on a specific % increase (or decrease) over short period, you can bank on the overall trend.
I’ll give you one more easy answer for your girlfriend. If you don’t invest, you are guaranteed to lose money to inflation. If you invest, you can either grow your money or lose money. The first option guarantees you will have to depend on government handouts to survive during retirement. The second option gives you the possibility of avoiding the scenario — and if it doesn’t work out, you’re no worse than you were before.
April 4th, 2007 at 12:58 pm
[...] If you’re new here, you may want to learn what this site is about. I encourage you to subscribe to my RSS feed. Thanks for visiting!This is part three in a series that will occupy the “money hacks” slot at Get Rich Slowly during April, which is National Financial Literacy Month. [...]
April 5th, 2007 at 1:40 pm
[...] If you’re new here, you may want to learn what this site is about. I encourage you to subscribe to my RSS feed. Thanks for visiting!This is part four in a series that will occupy the “money hacks” slot at Get Rich Slowly during April, which is National Financial Literacy Month. [...]
April 6th, 2007 at 1:01 pm
[...] If you’re new here, you may want to learn what this site is about. I encourage you to subscribe to my RSS feed. Thanks for visiting!This is part five in a series that will occupy the “money hacks” slot at Get Rich Slowly during April, which is National Financial Literacy Month. [...]
April 6th, 2007 at 11:42 pm
I’ve discovered that I don’t know how bonds work, exactly. Roth IRA fund bonds, to be exact. I received my first quarter’s statement and am baffled by the Income Dividends versus the Long Term cap gains.
April 9th, 2007 at 1:01 pm
[...] If you’re new here, you may want to learn what this site is about. I encourage you to subscribe to my RSS feed. Thanks for visiting!This is part six in a series that will occupy the “money hacks” slot at Get Rich Slowly during April, which is National Financial Literacy Month. [...]
April 10th, 2007 at 5:01 am
[...] Rich Slowly personal finance that makes cents April is National Financial Literacy Month.All month Get Rich Slowly will highlightarticles and stories that cover basic financial education. [...]
April 10th, 2007 at 1:30 pm
[...] Rich Slowly personal finance that makes cents April is National Financial Literacy Month.All month Get Rich Slowly will highlightarticles and stories that cover basic financial education. [...]
April 10th, 2007 at 4:20 pm
If you want an excellent foundation for understanding money and other monetary terminology,
I strongly suggest you check out principiapub.com and consider ordering the book MONEY.
Why? Because you will receive “inside” information that most don’t know about, or choose to be ignorant of (including bankers & lawyers)
Reading this book may also help you to build and/or preserve wealth.
I receive no money from recommending this book or from you ordering this book. I simply wish I would have known about this information earlier in my life, and I want to share it with others.
Happy reading.
April 11th, 2007 at 1:42 pm
[...] Rich Slowly personal finance that makes cents April is National Financial Literacy Month.All month Get Rich Slowly will highlightarticles and stories that cover basic financial education. [...]
April 12th, 2007 at 2:52 pm
[...] Rich Slowly personal finance that makes cents April is National Financial Literacy Month.All month Get Rich Slowly will highlightarticles and stories that cover basic financial education. [...]
April 13th, 2007 at 2:00 pm
[...] Rich Slowly personal finance that makes cents April is National Financial Literacy Month.All month Get Rich Slowly will highlightarticles and stories that cover basic financial education. [...]
April 16th, 2007 at 1:46 pm
[...] Rich Slowly personal finance that makes cents April is National Financial Literacy Month.All month Get Rich Slowly will highlightarticles and stories that cover basic financial education. [...]
April 17th, 2007 at 12:46 pm
[...] had no idea April is Financial Literacy Month until I came across GetRichSlowly.org/blog. All month in April they are presenting helpful links on [...]
April 17th, 2007 at 1:00 pm
[...] Rich Slowly personal finance that makes cents April is National Financial Literacy Month.All month Get Rich Slowly will highlightarticles and stories that cover basic financial education. [...]
April 18th, 2007 at 12:20 pm
[...] Rich Slowly personal finance that makes cents April is National Financial Literacy Month.All month Get Rich Slowly will highlightarticles and stories that cover basic financial education. [...]
April 19th, 2007 at 2:21 pm
[...] Rich Slowly personal finance that makes cents April is National Financial Literacy Month.All month Get Rich Slowly will highlightarticles and stories that cover basic financial education. [...]
April 20th, 2007 at 11:15 am
[...] Rich Slowly personal finance that makes cents April is National Financial Literacy Month.All month Get Rich Slowly will highlightarticles and stories that cover basic financial education. [...]
April 23rd, 2007 at 2:00 pm
[...] Rich Slowly personal finance that makes cents April is National Financial Literacy Month.All month Get Rich Slowly will highlightarticles and stories that cover basic financial education. [...]
April 24th, 2007 at 12:00 pm
[...] Rich Slowly personal finance that makes cents April is National Financial Literacy Month.All month Get Rich Slowly will highlightarticles and stories that cover basic financial education. [...]
April 25th, 2007 at 1:30 pm
[...] Rich Slowly personal finance that makes cents April is National Financial Literacy Month.All month Get Rich Slowly will highlightarticles and stories that cover basic financial education. [...]
April 26th, 2007 at 11:21 am
[...] Rich Slowly personal finance that makes cents April is National Financial Literacy Month.All month Get Rich Slowly will highlightarticles and stories that cover basic financial education. [...]
April 27th, 2007 at 2:00 pm
[...] If you’re new here, you may want to learn what this site is about. I encourage you to subscribe to my RSS feed. Thanks for visiting!This is part twenty in a series that has occupied the “money hacks” slot at Get Rich Slowly during April, which is National Financial Literacy Month. [...]
April 27th, 2007 at 7:20 pm
I have one suggestion. It would be nice if you had links to all the articles from this series, at the bottom of this post. It will help as a quick reference so visitors dont have to dig through the archive. I apologize if you already have a list of all the posts in this series, I have looked and it has not been obvious.
Thanks for all the hard work on these posts!
May 1st, 2007 at 5:00 am
[...] what this site is about. I encourage you to subscribe to my RSS feed. Thanks for visiting!April was National Financial Literacy Month. Get Rich Slowly did its part by featuring a video series that explored saving and investing. Here [...]
April 17th, 2008 at 12:48 pm
[...] and so easy to understand – a home mortgage. Congress has so graciously designated April as Financial Literacy Month again this year, and just this week, the House Financial Services Committee held a hearing on the [...]