Friday, October 15, 2010

Finance Resources

Most of us learn little to nothing in school about basic financial life skills. Either our parents teach us good habits (or not, in my case) or we have to teach ourselves later in life.

Many people learn the hard way. This week, my friend Barbara sent me a very interesting article about how "soft addictions" can ruin people financially.

My mom certainly was not alone. In fact, I know people to this day (including some family members!) whose shopping or day trading "hobbies" have gotten way out of hand. While these things used to be seen as moral failings (like alcoholism, smoking and so many other "vices") today we know there is a psychological or perhaps even physiological component involved.

We're fortunate to be more enlightened. Plus, there are so many great tools we can use now to help us with our finances.

Two women, Jo Bittof and Nancy Gehring Lowery, have recently founded one aimed at helping people learn to better manage their money. “If you can make time to buy coffee in the morning everyday, you can make time to organize your finances for five minutes the end of each day, so you have enough money to continue buying coffee,” Nancy says.

Other sites I recommend that you check out include the AICPA's 360 Degrees of Financial Literacy, which breaks down tips for various stages of life, and FeedThePig, which is aimed at teaching financial literacy to young people ages 25-34, when they really need to establish good habits.

1 comment:

  1. I think I might be softly addicted to computers.