My friend ChrispyCrunch has a financial blog that I've been following for some time. It's called "My Notes on the Stock Market", but I'll be honest with you ChrispyCrunch... I'm not a fan of that name, so I'm linking it as Crunch on the Market. (That name has got a bit more zip to it. Feel free to try it out.) I am waiting for his call on when it's safe to jump back into the fray... but he always tells me that it's impossible to call a market bottom until after it has happened. Anyway, that's my promo for Crunch on the Market.
Another good site for financial information is called Million Dollar Journey. It's one man's quest to have a net worth of one million dollars by the time he is 35. He tries to accomplish this through various methods, and blogs about it in the process. It's sort of a mixed-bag of various bits of financial information. His current net worth is almost $318K. It's not as focused or as technical as my friend's blog, but it may be a good place to pick up an idea or to that you may be able to apply to your own finances.
While I'm on this topic, you guys should also check out RedFlagDeals. It's the go-to place to find the best bargains. Be warned that this site will ultimately tempt you into spending more money, because you have to spend more to save more, right? There is currently buzz on the forum about an MBNA Mastercard that can get you 5% cashback on groceries and gas.
A friend of mine once told me that it is an embarrassment that our education system does not require high school students to learn how to manage their money. How many students stumble through their university years making poor financial decisions? How many students graduate with a huge debt load? How many adults take out loans and mortgages that they shouldn't? People should be given a basic education in personal finance skills, and it should be taught at a young age. It should be taught in schools, and you need only look at the current financial crisis to understand why.
PS: If you know of a good financial information site, please recommend it in the comments.
3 comments:
http://www.iwillteachyoutoberich.com/
No nonsense website. Lot of practical information for the uninitiated. He just came out with a book with the same name.
Um, how about parents take some responsibility for the financial education of their children? Granted, most people make bad financial decisions, but it has to start somewhere.
Perhaps more importantly, people need to take responsibility for themselves, rather than feeling that their education/welfare/etc. is supposed to be provided to them by the state.
I disagree, because you can't assume that parents are financially educated, nor that they are good at passing this knowledge to their children.
My argument for providing better financial education is this: If you teach people how to be financially capable, they will not end up on welfare or EI. They will make more income and they will pay more taxes. So clearly this is a win-win situation.
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