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Thursday
Oct222009

Educate Yourself on Money Matters

A finance headline caught my eye this morning, “6 must-have millionaire habits.” I usually find these types of articles rarely offer a new suggestion, but this point in the article resonated with me:

Educate yourself on money matters and be accountable for your personal finances.”

Woman Holding Piggybank photo

Growing up, I had a hard time with math. As I grew older, I translated my math struggles into the idea that if I didn’t understand math, then I couldn’t possibly understand how to manage money.  That attitude certainly didn’t help as I started out on my own, balancing a budget, debt, and bills. I realized I couldn’t let money matters overwhelm and intimidate me. One of the best things I did to help me overcome my insecurities about math and money was to just dive in and try to figure it out. One step at a time.

First, I started talking to my female friends and I realized a lot of us had a hard time with money. That made me feel less alone and less like there was something “wrong” with me. Then I started reading personal finance articles online – a little bit every day. I subscribed to personal finance magazines like Kiplinger’s Personal Finance and Smart Money. I didn’t read every issue cover-to-cover, but focused on articles and topics that most resonated with me at the time. Over time, the language of money became less daunting. I was able to set goals and make decisions about my finances – like cleaning up my credit report so I could buy my first condo, and how to choose funds for my 401(k). And the biggest surprise of all, was hearing myself, explaining a fund prospectus to my mom when she had questions about an investment.  

None of this happened overnight. But like any learning process, it happened. Money and finance can be overwhelming. You’re not looking to become a financial wizard, you’re looking to gain control over your financial future, learn how to make good financial decisions, and where to go for advice when you need it.

Next week, I’ll compile a list of resources to turn to for your Money Matters.  If you have suggestions, please add them to the comments!

Photo Credit: Jason Stitt

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Reader Comments (3)

I have been in the banking industry for 10+ years and still don't balance a checkbook or keep a budget. I have helped customer's balance their accounts and helped with budgets for others but not for me. I know that I need to be more accountable for my finances. I'll be looking forward to your resources.

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