Personal Finance Resources

So in an effort to try and think of how to talk about the many topics that encompass personal finance, I’ve found it difficult as to where to really start.

The truth is there are so many resources already out there dedicated to helping people making make the best financial decisions, whether it’s buying versus renting a home, the best way to pay off student debt, whether to buy new versus a used car, the best stock investing strategies, or just general savings tips and strategies.

So what I’ve decided to do instead is put down a few resources people can check to start if they want help in certain areas. I could spend my time re-hashing what’s already been said, but I don’t see that as a productive use of your time when I don’t have the experience to talk to a lot of the issues. While I consider myself fairly knowledgeable in personal finance, there’s still a lot I have to learn.

So I’ll go with a few resources I use for my personal finance. There’s a vast wealth of information out there, so it’s not the only areas I go to. Hopefully this is a starter on places to look.

The Easiest Resource – Google.com

I realize this might seem pretty intuitive, but if you’d rather do your own hunting, this is the place to start. Got a question about the stock market? Google “how to invest in the stock market?” and you’ve got a wealth of good information.

General Personal Finance

Kiplingerhttp://www.kiplinger.com/

I recently got a subscription to Kiplinger magazine and it’s been a great general resource for personal finance. It’s routinely rated as a great go-to resource for general personal finance topics. There’s also plenty of topics you can read for free on their website in regards to investing, retirement planning, debt management, and savings. This is a great all encompassing resource for general personal finance.

Money Sensehttp://www.moneysense.ca/

This one is for my Canadian friends. It’s a great resource for everything personal finance relating to Canada. This one is similar to Kiplinger, however it differs as it only focuses on personal finance topics and how they relate to Canada, so for instance any topics on mortgages or taxes will be with respect to Canadian rules and regulations.

For example: They’re reference RRSPs, not IRAs. They’ll reference TFSAs, not Roth IRAs. Then tax rules are with respect to the CRA (Canada Revenue Agency), not the IRS.

Investing Books

The Intelligent Investor – Benjamin Graham

This is one of the best resources for value investing you can find in paperback. Warren Buffet has indicated that this has been one of the best resources he’s used to build his financial empire. The book uses case studies that focus on companies that are considered value stocks, which is basically another way of saying getting the best bang for your buck in terms of purchasing stocks. One of the main takeaways is to look at the price to earnings ratio (I.e. take the price of the stock and divide it by the “earnings per share” to get the price to earnings, or P.E. ratio). This lets you see how many dollars are you paying per dollar of earnings in the company?

There’s obviously a lot more than just the P.E. ratio, but the book gives a great subset of signs to look for. It’s a very old book, but new versions have updated examples that show where value investing would have paid off. (Remember, past performance is no guarantee of future returns.)

Stock investing for Dummies – Paul Mladjenovic

I read a Canadian version of this book a while back, but like any “For Dummies” book, they are a great resource for beginners. They provide a wealth of information for places to start, and don’t necessarily need to be read in a sequential fashion.

Here’s a link to a quick cheat sheet if you’re looking for a quick look at some tips for stock investing.

Financial Calculators

Bank Ratehttp://www.bankrate.com/

I’ve found as I do my endless research on what an affordable mortgage would be for me, Bank Rate provides a great easy to use mortgage calculator that lets you quickly see what your expected payment would be based on rates around your region. They also have other calculators for things such as automotive loans, student loans, credit cards, and personal loans.

General Finance Questions/Knowledgebase

Investopediahttp://www.investopedia.com/

I’ve found Investopedia to be a great resource for any general questions or financial terms I don’t understand.

For example: You can buy stocks and options on the stock market. What is a stock? What is an option? Investopedia will give you a great breakdown of both and put it in terms that make it understandable a what each actually is and the pros and cons of both.

The Takeaway

I hope this at least provides a start to finding some places to look for information if you’re interested in personal finance or investment. I’m a bit disappointed I didn’t follow through on my plan to start providing financial articles, but it’s an area where I believe there are many resources out there and many people that are better equipped to answer questions than I can.

In the future I hope to provide information on topics I feel I’m a little more knowledgeable on. While I’d like to think I have a good grasp on personal finance, I’ll let the expert resources answer your inquiries. 🙂

Hope you enjoyed the post. Thanks for reading!

 

 

 

 

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