I wanted to start a new series called Fundamentals For Life as a way to introduce people to various topics and how to get started with learning them. I decided to choose money and investing as my first topic because it is surprising how many people know little to nothing about it. I know money and saving can be boring but it is essential in living a successful life on this planet. Learning about finance and investing at a young age can be the difference between a happy healthy retirement or living in a shack barely making it paycheck to paycheck. Even with a low income if you master your spending habits, save and invest you can retire happily.
Most millionaires in the US are not only first generation millionaires , but they achieve the status through long term savings, not necessarily high incomes. Just to illustrate my point, I want to tell you about one of my best friends whose family is a prime example of how mastering this knowledge can bring you financial success. One of my friends parent's works at a medium sized company with a public relations job making around a 60k salary before taxes and his mother works part time at a local YMCA making minimum wage. Despite relatively medium-low incomes in my area they have close to a million for retirement and a paid off house. The best advice I heard from his dad was that "taking out a loan is like taking a future pay cut and investing your money is like getting a future pay raise". It sounds simple yet most people in the world are not taking this approach which gives those who do a large benefit . How many people have you heard about that make a million a year but end up going bankrupt. Living below your means and saving is everything, NOT income.
Im also and a firm believer that financial freedom is one of the greatest freedoms in the world, because it gives you the ability to live your life without being a slave to others and your job. If you want to experience this type of freedom my playlist is a good place to start. Bookmark this page or bookmark the playlist on youtube and go back to it. You don't have to learn all these things today, but learning them long term will create financial freedom.
Below I picked 10 of the most important videos, but the link to the whole playlist is here : https://www.youtube.com/playlist?list=PLaN9ahk3akFx_VB4UqhzPjuZ9n2HHVbCS
Investing Basics: Retirement
Roth IRA Explained
How to Budget with Mint.com
How Much Should You Save for Retirement?
Renting versus buying a home
Paying for College: Understanding Student Loans
Stock Market Risk and Long-term Investing
Investing Basics: ETFs
Credit Card Debt Explained With a Glass of Water
Living Below Your Means
Thanks a lot! This is just the kind of material that I love seeing on Steemit, a very helpful post that I can use as a reference. I look forward to the rest of your series! Thanks again!
Thanks for the compliment! I havent completely decided what I want to do the other series on yet. Im thinking about one possibly more in the realm of self worth and believing in yourself and your ideas, but im not 100% sure yet.
edit: If you have ideas let me know. Im willing to explore other topics that even I havent learned about yet. Could be a learning experience for both of us.
yes thanks @calaber24p great post
good job
I absolutely love this post. Thank you for sharing it with us @calaber24p. I have been on both sides of the spending habit. When I made the amount of money that I did, I spent it on whatever I felt like and never worried. Time would change that years later. I ended up living check to check. It was by trial and error that I learned to budget. I see others making the same mistakes and offered to help them pull out. I hope your videos reach out to the world. Suze Orman has it pegged right. Living within your means is a bad idea.
I like this, public interesting playlist are very good.
thanks I hope the videos are helpful for everyone here. I actually recreated this playlist from one I made for my sister who just got her first job.
Hope this is getting more attention. Financial freedom give you complete freedom. You can help your friends and family in times of need. This is the main reason I want to be free
Thank you for information! I've spent 10 years in the office and now I'm done with it... Life is too short to do what you don't want. Wish everybody to be free :) thank you!
bookmarked, good content @calaber24p 8]
Good post! I made a similar post Regarding the really REALLY basics of investing. If anyone cares to have a look.
https://steemit.com/money/@sulev/just-do-it-why-it-s-worth-investing-you-should-do-it-too
Thanks @calaber24p. I am one of those who cant let payday earning reaches next payday. Hope this videos will help me to learn how to...
If you watch them all you will definitely learn important techniques to managing your money better
Problem is I dont have much, Im just earning around $500 a month. For a married man with 3 kids, I admit Im having hard times in budgeting.
Yes, I use Mint and it is really useful and something I would recommend!
Mint is fantastic and most people don't know it even exists. Just looking at your finances and knowing how much you have at all times is so important. One of my professors' first job out of college was a financial adviser and he said you wouldnt believe how many people actively avoid looking at their bank accounts because it made them depressed.
Oh no! Avoidance is definitely not the way to go lol. It's always better to be in the know. Only then will you be able to make informed decisions!
I really dig these kind of articles! Love to read them in my sparetime. My goal is to reach financial freedom asap. Already calculated my number ;)
All I need is to save up my money and invest (in VTSAX).
Thanks for sharing. I will be following! Up voted
"Compound interest is the eighth wonder of the world" - Albert Einstein
Clear ans useful information. Very interesting topic that helps to raise awareness. That's a vision I share. There are many paths to success and finantial freedom. Each one must find (or beter BUILD) his/her own.
I'll be sharing some basic information and suggesting authors to study from. I started by Robert Kiyosaki's book "Rich Dad, Poor Dad". Feel free to read the post if you want to.
https://steemit.com/money/@rmach/assets-vs-liabilities-robert-kiyosaki-insights
Keep up the good work. Posts like yours empower people. I wish I could upvote you twice :)
@calaber24p glad to see a fellow financial mind/educator getting some good love on Steemit. This post is right up my alley! I did a written post couple days ago on investing in real estate vs. stock market vs. peer to peer lending. https://steemit.com/real/@scaredycatguide/real-estate-stocks-or-peer-to-peer-lending-what-s-my-best-investment
Planning to do more financial posts shortly, but get out of niche from time to time..haha. Look forward to your next post.
A Dash Masternode yields a yearly return of 11% in DASH which also historically appreciates against the USD. It's a great investment, IMHO, but obviously do your research...
http://dashmasternode.org
I actively avoided crypto in this playlist not because I don't believe in it, just because I think many people here are already into crypto finance and I wanted to offer some traditional finance material for them.
Thanks for the interesting and useful post, but in order to invest, you need at least some money >_< I do not have them
Theres a few really good financial advisers who make videos on youtube and have shows ect. Check out the budget videos I have because honestly they can be the most important if you have a lower income. The advisers I would check out are Suze Orman and Dave Ramsey. I don't agree with everyhting they say, but both definitely have a lot of good fundamental advice for beginners.
many perspective in one place.
thx
gonna see them later, thanks for the info.