Finding good information about personal finance and money can be difficult. Parents are sometimes guarded and don’t always jump at the chance to teach good money management skills. The Internet is full of get rich quick schemes and scams, so it’s hard to find truly reputable information. Because of this, I’ve put together a list of some of the best financial resources.
1. Your Parents - Ask your parents how they manage a family budget (if they use one). Carefully, ask if they have credit card debt. Genuinely be interested in what they have to say. Realize that while your parents aren’t perfect, they can provide valuable insights into how to handle your finances. If they won’t budge, don’t bagger them.
2. Your Friends - Peers can be a great way to see both what you should be doing and what you should not be doing. For example, are you working a part-time job to save a bit of cash up? Are you going to a pricey college just because you want to impress your friends?
2. Blogs - There are literally thousands of blogs discussing personal finance and how to mange money. Here are some of my favorites:
- Get Rich Slowly is perfect for understanding the nuts and bolts of personal finance.
- The Simple Dollar has solid, truthful information on just about every financial topic imaginable.
- The Digerati Life is geared towards those comfortable with technology and no non-sense advice, so it’s perfect for young people.
- I Will Teach You To Be Rich is a fantastic blog for a younger generation. There’s funny jokes and even some swearing. You just can’t lose…
- Frugal Dad will provide you with some great insight into how parents handle money.
3. Bank Rate - This website has fantastic calculators that allow you see just how much credit card debt can cost you or how long it’ll take to pay back a car loan. Some of the charts can be pretty eye opening. My favorite is the retirement calculator.
4. Your Bank - Don’t be afraid to call your bank up if there’s something about your account you don’t quite understand. When you’re opening an account, ask questions and make sure any terms or fees are clear.
5. The Library - There are all kinds of personal finance books out there with great advice and information. Best of all, you don’t have to spend any money on them. Some titles geared towards teens and young adults include: I Will Teach You To Be Rich
6. The Motley Fool - This website has tons of information on investing, along with some basic personal finance content. There’s even a specific part of the site designed just for beginning investors.
