4 Easy Ways to Improve your Financial Literacy

Financial literacy is one of the most important and underrated skills that anyone can have. Understanding basic financial concepts such as mortgages, inflation, and interest rates is critical for financial success. Once you unlock this knowledge, you will be better equipped to effectively manage, save, and invest money for you and your family. This knowledge, combined with other good financial habits, is the key to financial well being and freedom later on in life. While everyone has varying degrees of financial literacy, there is an overwhelming amount of resources available to expand your knowledge on financial topics.

 

Read Personal Finance Books

If you enjoy reading, there is no shortage of finance books that cover a broad variety of topics, from eliminating debt to saving for retirement. One book recommended by Forbes magazine that covers the latter is Rewirement: Rewiring The Way You Think About Retirement!, by Jaime Hopkins. This book tackles common misconceptions and bad habits that prevent people from having flexible and successful retirement plans. For a variety of books on many topics, check out Insider’s …

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Can Theory and Jargon destroy your net worth?

This is an interesting vlog on some simple monetary economics ideas, the classical definition of inflation is discussed in terms of ‘money supply’ but then it turns towards some of the other issues such ‘what is money supply?’ there is no set agreement on which count should generally be used (in USD it used to be M3 which is no longer published). That has an interesting implication in the fact that banks are ‘hoarding’ money, the fact is that they are holding huge amounts of capital which isn’t monetized, but it can be and that means a return to ‘credit flowing’ could actually cause some serious inflation as the money flows into the real economy minus any increase in real purchasing power.

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