off-topic What's the best way to learn about personal finance?

[ActionAce]

Managing my finances has been a constant struggle, that is why I seek knowledge from others. I have read some articles about finances online but their seems to be no practical approach to it. Please, I need your advice! What can I do to step up my financial capabilities?

 

[Harsh World]

The best advice I can give is to start saving and save 10% of everything before you pay yourself.

Live at that new level, and then add more when you can. After you have a stockpile of cash, you can look into other investment opportunities, like a CD, for instance, to collect more interest as you continue to save a larger sum for a bigger move.

But, if you can't start saving, there's not much more that I can offer, if you can't make the first move to show that you're serious.

 

[Reelz]

I read some books in financial management and I learnt the fundamental practices coupled with methods to save money and the strategies for investing. I also join online board that is based on personal finance.

 

[1stop]

Online educational content through podcasts and YouTube channels represents the best place if you are interested in pursuing personal finance knowledge. Check out Planet Money on YouTube. They deliver short and easy-to-understand content on different personal finance subjects.

 

[Profwriter]

The best advice I can give is to start saving and save 10% of everything before you pay yourself.

Live at that new level, and then add more when you can. After you have a stockpile of cash, you can look into other investment opportunities, like a CD, for instance, to collect more interest as you continue to save a larger sum for a bigger move.

But, if you can't start saving, there's not much more that I can offer, if you can't make the first move to show that you're serious.

Wow, but there are alot of people who truly want to save, but they don't even have enough to feed for a day. It's almost impossible to save money when one is hungry.

 

[Profwriter]

Managing my finances has been a constant struggle, that is why I seek knowledge from others. I have read some articles about finances online but their seems to be no practical approach to it. Please, I need your advice! What can I do to step up my financial capabilities?

The first thing you need to do is define your financial goals: What do you want to achieve?

The second step is to determine if you'll need a second source of income and if you can manage multiple jobs.

 

[Profwriter]

The third step is to figure out what is draining your finances and try to see if there's a way you can cut it down or find a cheaper alternative.

You must be able to differentiate between needs and wants.

 

[Profwriter]

The third step is to figure out what is draining your finances and try to see if there's a way you can cut it down or find a cheaper alternative.

You must be able to differentiate between needs and wants.

Needs are things that you certainly cannot do without, such as; shelter, food and medications. Wants are things that you can do without them, examples are; getting a pair of new shoes, clothes etc.

Spend less on your Wants and build your finances.

 

[Harsh World]

Wow, but there are alot of people who truly want to save, but they don't even have enough to feed for a day. It's almost impossible to save money when one is hungry.

I can't discount that. But, I would need to look at it on a case-by-case basis to determine if sacrifices can be made to allow for saving.