If you’ve been a subscriber, you would know that I am really into tracking my expenses and knowing where my money goes. That falls into something we call personal finance.
The initiative of learning personal finance is a stepping stone to effectively managing your finances. More often than not, people delay or completely avoid managing their finances and just let their money slide off of their fingers. You don’t wanna be like that!
Around the time I was setting up this blog in May 2017, I had the privilege to be assisted by an established blogger in the Philippines. His name is Billy Ramirez from ThinkPesos.com. I met him in one of the many Facebook Blogger Groups that I’ve joined to connect with other bloggers.
Without further ado, here are just five of his ways to teach you!
5 Smart Ways to Start Learning Personal Finance
So you now realized the importance of financial literacy and want to start your journey to financial freedom.
If you’re a beginner, it is crucial that you equip yourself with the right mindset and right knowledge to make wise decisions about your finances. Knowing and understanding the “facts and figures” of any financial decision you’re going to make will definitely save you headaches, time, money and effort in the future.
How will you do that?
How can a beginner like you start his or her way to financial freedom journey?
First things first, you study and know the basics in learning personal finance. Investing in yourself is the first and fundamental step to become financially literate and achieve financial freedom.
To help you get started, here are 5 smart ways to increase your financial knowledge as a beginner.
1. Attend Seminars
Attending live or online seminars (or webinars) is one of the most common methods of learning today. Attending financial related seminars will not only let you gain real life lessons from speakers, but you will also get to meet like-minded individuals. It can increase your awareness and knowledge about whatever financial venture you’re after.
There are paid seminars, but there are also a lot of free ones. If you think that the lessons and knowledge you’ll gain on the seminar is valuable, don’t hesitate to spend money. Treat it as an investment which returns are long term.
I remember attending two stock market seminars before opening my stock market account 4 years ago. That decision was one of the best decisions I made about investment. I invest in myself first, and you should do the same.
2. Read personal finance related books, blogs, and magazines
Reading books and blogs related to personal finance is one of the reasons why I discovered my passion in financial literacy. It fired and awaken “the giant within me” to properly handle my finances and help other people kick start their passion in learning personal finance. That helped a lot.
Learning from other people’s experience and stories are one of the best ways to gain more knowledge and skills about your finances. Read, read, read and read.
And of course, take necessary action!
Today I continue reading more personal finance books and personal finance related blogs to learn more. In addition, I also read personal development and entrepreneur related books and articles.
Reading became my habit and I can say that this is one of the most productive habit I have.
3. Watch videos and related movies
Watching personal finance related videos is also one of my practical sources of knowledge. Internet has grown like a super-library where you can research and watch tutorials and related stuff to gain more knowledge and skills.
Youtube and other sites have big collections of money-related videos that can help you gain basic knowledge and fundamentals about your finances.
“Pesos and Sense” by Mr. Aya Laraya is a great start. It shares the basic and fundamentals of investing and other money related things.
Additionally, there are Hollywood and local movies you can watch that can contribute learnings about finances and entrepreneurship. They can ignite your passion too.
4. Meet like-minded individuals
As mentioned in #1, attending seminars can be a way to meet like-minded individuals who are also in search for knowledge about personal finance. Making friends out of your passion can be a great way of learning. You can learn from their personal stories and can connect with them for future endeavors.
So when you attend financial related seminars, make sure you make friends with other people.
Apart from this, you can also meet like-minded individuals by joining forums, mastermind groups, and social media groups that tackle related topics. This way, you can learn and gain financial knowledge anywhere and whenever you want.
5. Get a mentor
Having someone to guide you who had once been there is one of the great ways to save time, money, and effort in any venture you’re pursuing. They are one of the best teachers too.
By having a trusted mentor, there is always someone who will guide you to help you avoid mistakes, headaches, and wasted money in your journey to financial freedom. Remember, they’ve “been there, done that!”
As what they always say, a mentor’s experience is a priceless lesson.
These are the 5 smart ways to start learning personal finance. There can be additional, but these are the basic ones.
Some of them cost money but some can be FREE too. As mentioned, if the value you’ll get will help you move forward and closer to your financial goals, it will be worth it.
Everyone was once a beginner. If you take one step at a time, sooner than later you’ll achieve your life and financial goals. Always remember that investing in yourself is the best investment of all time. I hope this article has been helpful and informative. Cheers!
Billy Ramirez is the author and founder of Personal Finance Tips. He shares practical personal finance tips and fundamentals of financial literacy that help Filipino in the Philippines and around the world become financially educated.
How do you plan on starting your personal finance journey?
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