7 answers
bryce
Student
Batavia, New York
1
Question
Asked
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What classes are good to learn finances. ?
As i keep getting older, i want to be able to support myself finanically but how do i stay consistent with achieving my goal.
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7 answers
Paul Goetzinger MPA
Academic and Career Consultant and Freelance Writer
745
Answers
Seattle, Washington
Updated
Paul’s Answer
I discovered that Economics is a good way to learn about finances. It covers everything from cost and demand, Kenyesian elements, taxes, financing, and budgets. So, the subjects involving Economics are very good learning opportunities.
Bharath G S
ASIC Design Engineer
1
Answer
Bengaluru, Karnataka, India
Updated
Bharath’s Answer
Hello Bryce,
It's absolutely fantastic that you're taking the initiative to delve into the world of finances. Remember, there isn't a singular path or course that holds all the answers.
Just like you, I've been navigating the same journey, discovering valuable insights along the way. One notable resource I've stumbled upon is the collection of books by Robert Kiyosaki. They offer a unique perspective that I've found quite enlightening.
I'm also on this exciting journey of financial exploration, continually learning and growing.
Your interest in this field is commendable and truly inspiring.
Consider this as a helpful stepping stone on your path to achieving your financial goals.
It's absolutely fantastic that you're taking the initiative to delve into the world of finances. Remember, there isn't a singular path or course that holds all the answers.
Just like you, I've been navigating the same journey, discovering valuable insights along the way. One notable resource I've stumbled upon is the collection of books by Robert Kiyosaki. They offer a unique perspective that I've found quite enlightening.
I'm also on this exciting journey of financial exploration, continually learning and growing.
Your interest in this field is commendable and truly inspiring.
Consider this as a helpful stepping stone on your path to achieving your financial goals.
Maggie Summers
Technical Account Manager
6
Answers
Portland, Oregon
Updated
Maggie’s Answer
I'll echo other responders by saying good job thinking about this! You're ahead of the game by even considering it.
A few things I will add to the list:
- Mint app for online budget planning
- YNAB (You need a budget) app -- people swear by this budgeting app!!
- Take advantage of any match your place of work provides. If they offer a x% match on 401k for example, make sure you're getting all of that match by contributing x% of your paycheck.
- It might be obvious, but make sure you have automatic payments turned ON for all of your online payments -- including credit cards, utilities, student loans, etc. It's the easiest way to make sure you are staying on top of personal finances and you aren't ever making late payments (late payments really ding your credit score).
A few things I will add to the list:
- Mint app for online budget planning
- YNAB (You need a budget) app -- people swear by this budgeting app!!
- Take advantage of any match your place of work provides. If they offer a x% match on 401k for example, make sure you're getting all of that match by contributing x% of your paycheck.
- It might be obvious, but make sure you have automatic payments turned ON for all of your online payments -- including credit cards, utilities, student loans, etc. It's the easiest way to make sure you are staying on top of personal finances and you aren't ever making late payments (late payments really ding your credit score).
Kenny Mazza
Financial Analyst
3
Answers
Charlotte, North Carolina
Updated
Kenny’s Answer
This is a great question. It will depend on what your specific goals are, but I'm assuming you just want to make sure you are going to be 'smart' with your money and not go into bankruptcy or struggle to survive when you get older. It's unfortunate, but there aren't too many classes about this that I've seen. It sounds cliché, but the best thing to do is to go into a library or bookstore and find a book about handling your own finances. You can also google any questions you have online, but you have to be careful of the sources. Sometimes information you find online isn't accurate.
Some super top level things that I can think of off the top of my head are these:
-Live below your means (spend less money than you earn each month)
-Save for the future (open up a savings account with a high yield and try to have enough money for a couple months of expenses)
-You've probably heard that credit card debt can be scary and to stay away, but as long as you pay off your statement each month then you won't have to pay any interest and you will even get cash rewards. Having good credit will help you in the future
Hope this helps.
Some super top level things that I can think of off the top of my head are these:
-Live below your means (spend less money than you earn each month)
-Save for the future (open up a savings account with a high yield and try to have enough money for a couple months of expenses)
-You've probably heard that credit card debt can be scary and to stay away, but as long as you pay off your statement each month then you won't have to pay any interest and you will even get cash rewards. Having good credit will help you in the future
Hope this helps.
Christopher Doherty
Financial Advisor
24
Answers
Stamford, Connecticut
Updated
Christopher’s Answer
Hi Bryce,
Financial uncertainty can cause stress in your life and relationships. Having control of your finances will give you confidence when you need to make financial decisions. You asked "what classes to take". I would suggest starting my simply with a book. David Ramsey's "The Total Money Makeover". It stresses the need to have a financial plan and the steps needed to achieve the plan. A couple of other points I would make:
1) no credit card debt: if you have multiple cards, pay off one at a time.
2) contribute the max to your employer's 401k plan
3) open an IRA and contribute the max annually
Good luck
Financial uncertainty can cause stress in your life and relationships. Having control of your finances will give you confidence when you need to make financial decisions. You asked "what classes to take". I would suggest starting my simply with a book. David Ramsey's "The Total Money Makeover". It stresses the need to have a financial plan and the steps needed to achieve the plan. A couple of other points I would make:
1) no credit card debt: if you have multiple cards, pay off one at a time.
2) contribute the max to your employer's 401k plan
3) open an IRA and contribute the max annually
Good luck
Jeffrey Pollock
Customer Success
4
Answers
Truckee, California
Updated
Jeffrey’s Answer
Hey Bryce! Love this question because there's a distinct difference between personal finance and learning finance in the way schools teach, which is usually geared toward business finance. If you can find a course that's geared toward "Personal Finance" that will be the best thing to focus on if you're just wanting to make sure you have a good handle on your own money and set yourself up for success over the long term. Also if investing in real estate isn't already on your radar that's where a ton of wealthy people (myself included) have built a solid foundation. You don't need a ton of money to do it when done right to start.
If a Personal Finance course isn't offered where you're going to school, I'd HIGHLY recommend reading a few books about it and getting into podcasts that will help build this knowledge, which is what I've done over the years after I went through school and didn't have any education on personal finance at all. Here's some recommendations that have changed the game for me:
- Books:
- Rich Dad Poor Dad, Robert Kiyosaki
- I Will Teach you to Be Rich, Ramit Sehti
- Set For Life, Scott Trench
- The Millionaire Next Door, Thomas Stanley & William Danko
- Podcasts:
- Bigger Pockets - they have a finance show, a real estate investing show, a business show, etc.
- Choose FI
- Blog: Mr. Money Mustache
Just by thinking about this at the point you're at means you'll crush it! Good luck and happy reading/listening.
If a Personal Finance course isn't offered where you're going to school, I'd HIGHLY recommend reading a few books about it and getting into podcasts that will help build this knowledge, which is what I've done over the years after I went through school and didn't have any education on personal finance at all. Here's some recommendations that have changed the game for me:
- Books:
- Rich Dad Poor Dad, Robert Kiyosaki
- I Will Teach you to Be Rich, Ramit Sehti
- Set For Life, Scott Trench
- The Millionaire Next Door, Thomas Stanley & William Danko
- Podcasts:
- Bigger Pockets - they have a finance show, a real estate investing show, a business show, etc.
- Choose FI
- Blog: Mr. Money Mustache
Just by thinking about this at the point you're at means you'll crush it! Good luck and happy reading/listening.
Beth Gallery
Finance Manager
4
Answers
Libertyville, Illinois
Updated
Beth’s Answer
Dear Bryce,
Firstly, congratulations on taking the initiative to ask this question today. Your forward-thinking approach is commendable and puts you in an excellent position. Early financial planning is a key step towards securing a stable future. If your school offers courses in economics or finance, consider enrolling. These classes will provide you with valuable insights into how elements such as interest rates can influence investments.
Secondly, when contemplating career paths, bear in mind that many companies include investment options like 401ks in their compensation packages. Make sure to inquire about these potential perks and weigh them alongside the salary before deciding on your preferred workplace. As soon as you commence employment, start contributing to your 401k, even if it's just one percent of your paycheck. This small step can lead to significant growth over time.
Lastly, your employer may also provide access to a financial advice company as part of their benefits package. This is especially common in larger corporations, as they use such incentives to stand out from their competitors. Don't hesitate to ask about these benefits during your interview and make sure to utilize them once you're on board.
By asking these questions now, you're paving the way for your future success. Best of luck!
Firstly, congratulations on taking the initiative to ask this question today. Your forward-thinking approach is commendable and puts you in an excellent position. Early financial planning is a key step towards securing a stable future. If your school offers courses in economics or finance, consider enrolling. These classes will provide you with valuable insights into how elements such as interest rates can influence investments.
Secondly, when contemplating career paths, bear in mind that many companies include investment options like 401ks in their compensation packages. Make sure to inquire about these potential perks and weigh them alongside the salary before deciding on your preferred workplace. As soon as you commence employment, start contributing to your 401k, even if it's just one percent of your paycheck. This small step can lead to significant growth over time.
Lastly, your employer may also provide access to a financial advice company as part of their benefits package. This is especially common in larger corporations, as they use such incentives to stand out from their competitors. Don't hesitate to ask about these benefits during your interview and make sure to utilize them once you're on board.
By asking these questions now, you're paving the way for your future success. Best of luck!