From Humble Beginnings…

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I look around me and every day I see new graduates, new professionals, new income earners in the workplace that are ready to start their careers.  With a wealth of knowledge gained from completing their university and college degrees, many think that they have learned everything they need to know to get through the rest of their lives.  What the schools didn’t teach through 18 years of education is how to manage their personal finances.  When do you need to buy insurance? What is an investment? What do I do with my paycheck?

In the real world, everyone is trying to grab a piece of your dollar.  Whether it is through ingenious marketing or clever sales making, someone is asking you to invest in the next great thing or buy the shiniest, newest gadget.

With the odds against you in a consumerism society, how do you go about making yourself financially independent? How do you stop relying on government assistance, loans and credit card debt?  The answer to that is simple: Education.

Most of us are never taught on how to value money and the importance of building wealth.  The only education provided is usually given by our parents, but our parents’ goal was to provide nurture and a better way of life.  This prompted most parents to provide their children with whatever their wants were, no matter the cost, but never instilling the notion of how to take care of one’s finances.

With very little resources and no one around the help, where does one begin?

To start learning, the easiest option is to pick up a book and read.  I highly recommend the book The Wealthy Barber by David Chilton.  Don’t mistakenly read the second book, the first book is definitely the better book.  The book will give you a great introduction to personal financial management and gives a common sense approach on how to manage your finances.  It covers the basic topics such as budgeting and savings, when to create a will, what insurance to buy and retirement savings plans.  To top it off it reads very easy, just like a suspense thriller novel!

If you’re somewhat experienced and have a basic understanding of financial planning or you want to further expand your knowledge.  I also highly recommend Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School by Andrew Hallam.  I certainly don’t encourage you to live as miserly as the author of this book, but the knowledge that he provides on how he became a millionaire on a basic, five figure, teacher’s salary is something that everyone should be able to strive for.

Once you have mastered the basics and taken control of your own personal finances, you’ll find that you will be constantly looking for more resources to improve your knowledge.  My goal, for readers of this blog, is to hope that you will take the first step and learn about personal financial management.  From there, set yourself some financial goals and work towards them.  Achieve financial independence and make your personal dreams come true.

If you want to continue learning.  Keep reading this blog!

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