and ramblings on everything in between
A friend and I were recently marveling over the fact that it’s pretty standard for young adults to have no clue about personal finances. Somehow we make it through 12 years of schooling, and for some of us, another 4 years of undergraduate studies without knowing more than how to balance a checking account and apply for a credit card.
My friend wonders why personal finance isn’t a gen ed class. It wasn’t at our university, anyway. Why is no one explaining what the interest rate on student loans adds up to after 20 years? Why are most of us so clueless on 401(k) options, money market accounts, and exchange traded funds?
Apparently I need to make it one of my goals to drive financial education forward for our youth.
As I’ve worked to better educate myself on how to wisely manage my finances, I’m reminded again and again that it’s always good to return to the basics. The basics are building blocks for a strong financial foundation. As much as I want to jump forward to the fully stocked emergency fund and maxed out 401(k) contribution, I need to make sure the basics are in good working order before moving on to the next financial step (or dream).
Here’s a round-up of basic financial blogs to help you refocus:
Get on a budget – and stick to it – Daveramsey.com
The benefits of hustling and working side jobs – Getrichslowly.org
Investing 101 – Getrichslowly.org