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April was National Financial Literacy Month. Get Rich Slowly did its part by featuring a video series that explored saving and investing. Here are links to each part in the series:
- Introduction
- The power of compounding
- Providers and users of capital
- The difference between debt and equity
- What is leverage?
- An introduction to financial statements
- Why do financial markets exist?
- What is a bond?
- What is a stock?
- What is a stock market index?
- The importance of diversification
- What is a mutual fund?
- Types of mutual funds
- The difference between active and passive management
- An introduction to dollar-cost averaging
- The impact of time
- The three enemies of growth
- Coping with high-interest debt
- Getting started
- 5 popular misconceptions about money
Get Rich Slowly articles
This site regularly features articles about basic personal finance skills. Some of the best from the past year include:
- 7 ways to take charge of your finances — Seven simple but effective steps you can take to seize control of your money instead of letting your money control you.
- The most important money tip — Spend less than you earn!
- How to get out of debt — Debt elimination involves three steps: stop acquiring new debt; establish an emergency fund; and implement a debt snowball. Here’s how to approach each step.
- How to organize your finances in four easy steps.
- Track every penny you spend — Tracking your spending helps to demystify money. You begin to perceive it as a tool. You gain a sense of power.
- Budgeting for non-budgeters.
- Anatomy of a credit score and How to obtain your free credit report.
- The road to wealth is paved with goals — Goals are the fundamental building blocks of success.
As a general rule, the basics category here at Get Rich Slowly contains information about fundamental financial literacy.
Other web sites
There are other excellent financial literacy resources around the web.
- CNNMoney has an outstanding overview of basic personal finance topics called Money 101. Each of the 23 topics includes several pages of information, and many of the subjects include an interactive calculator or tool.
- The Federal government has a website called MyMoney.gov, which is “dedicated to teaching all Americans the basics about financial education.”
- The Federal government also provides the Federal Citizen Information Center, which offers free (or cheap) publications on a variety of topics including personal finance. Many of these publications are available in free PDF versions.
- Both Illinois and Wisconsin have sites devoted to personal finance education. These two pages contain a wealth of links to information on many subjects.
- 360 Degrees of Financial Literacy is a site from the American institute of CPAs. It includes many articles on various life stages such as “college”, “couples & marriage”, “home ownership”, etc. A clunky interface, but a lot of solid information.
- Ramit at I Will Teach You to Be Rich has The world’s easiest guide to understanding retirement accounts.
- Rhetorical Device offers A brief history of money. This is actual history. It’s a short article, but fascinating.
Between the Saving and Investing video series, the GRS basics archive, and the other sites I’ve linked here, you have a wealth of personal finance material at your disposal. Bookmark this page, and return to it during the next few weeks. Do this and you’re certain to become better educated about personal finance.
This article is about Basics Tuesday, 1st May 2007 (by J.D. Roth)
May 1st, 2007 at 5:15 am
This is a great summary and links resource post. It’s a post like this that brought me to GRS. Like you suggested, I’ll be bookmarking it so I can review the links later.
May 1st, 2007 at 10:57 am
ALISON provides via the Internet, highly interactive self-paced multimedia training
courseware for BASIC SKILLS to the individual learner for FREE.
Financial Literacy is only one course, which contains Seven modules of interactive multimedia learning are provided on personal financial management. The course provides information such as how to set up a bank account, planning for the purchase of a home, to the basics of preparing financially for retirement. For someone struggling to manage their finances or simply wanting to learn more about how to make the most of their money, this course is for them.
Just take a look: http://alison.com/courses/IFLC
May 1st, 2007 at 11:01 am
Another great post J.D. It’s no wonder you have a huge fan base.
FT
May 1st, 2007 at 12:33 pm
All in all, a successful theme-month I would say.
May 1st, 2007 at 4:56 pm
Clearance Items…
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May 2nd, 2007 at 6:28 am
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Vow! Such a treasure trove. Even though it’s US specific, it’s useful to learn the concepts for an Indian like me.
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May 7th, 2007 at 11:48 am
Excellent list. I’ll be adding several to my resources page.
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