6 tips to help increase your knowledge of how money works and how to make it work for you

If there is one thing I wish they taught more of in school, it’s financial literacy. Financial literacy is the ability to understand how money works in the world: how to earn or make it, how to manage it, how to invest it and how to donate it to help others. Financial literacy (or the lack there of) is also one of the main crisis in America. The majority has less than $1000 saved and debt is through the roof, especially with student loan and medical debt.

As a financial professional, before I can recommend ideas, it’s important to help my peers first understand how much the know or think they know about money. There are usually some mental ties to their habits both good and bad. I simplify what they need to know in order to lower their stress over finances but that’s only the beginning. Just like any other area of life you wish to improve, it takes constant and never ending improve or practice.

Here are few resources you can use to help feed your brain and build your knowledge going forward.

• Write all your questions- Simple yet often forgotten. Before you seek knowledge first identify what you would like to know about money. Whether it be mortgages, interest, insurance, retirement plans, etc. Write down each topic and use it as a starting place to seeking answers.
• Google it!- Take those questions and let the magic of Google unveil the curtain. I would strongly suggest looking at many perspectives on the topics you search and look for the common themes. That will eliminate any one off advice or narrow perspectives.
• Subscribe – Money, Yahoo finance, Entrepreneur.com, etc. are great hubs for financial tidbits you can receive on a regular basis via email. I like to star and save articles in separate folder so they are not get forgotten about.
• Podcast or Book on tape- This is perfect for your car ride to and from work. Here is a link to Amazon Audible where you can find tons of books on tape to tap into. Money Books on Amazon Audible
• Take a class- This can be a live workshop or an e-course.USA Today has a list of 5 free money courses here.
• Talk to someone you trust- This is ideal if you are not ready to start working with a financial professional yet. Who do you feel you trust most on money matters? your parents? friend who owns a business? Ask them about what they have done to improve money their skills and how they found their mentors.