Welcome To Day 1 Of Our Personal Finance 101 Series |
Let’s talk about money.
While some U.S. states are making progress toward requiring financial literacy courses for high school students, many people are still in the dark about the basics of savings accounts, interest rates, investing and so much more.
If you’re unsure about what to do with your money, you’re in the right place. Over the next week, this newsletter series will share expert advice from Forbes on a number of financial basics. We’re not trying to reinvent the wheel here: You’re not going to find tips on what stocks are hot or whether you should dive into the world of crypto. Instead, we’re going to take it slow by covering the importance of budgeting, your options for starting a retirement account, and some common financial scams to be wary of.
It’s likely that you’re already familiar with some of these concepts, but if you’re dragging your feet in tackling your financial situation, this could be a great launching point. |
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| Here’s a little preview of what we’ll be tackling over the next few days: |
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| If you don’t already have a budget, it’s time to change that. Being able to visualize your money and where it’s being spent is the best way to begin preparing for your future financial goals. We’ll catch you up on a few of the most common budgeting methods, dive into the world of budget apps, and offer up some advice from experts that will help you no matter what financial plan you go with. |
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| How’s your credit card bill looking these days? In this edition, we’ll break down the concept of good vs. bad debt, how to avoid the traps of high-interest credit card debt, and dig into those “buy now, pay later” offers you see when shopping online. There will also be information on strategies for paying down what you owe, which can free you up for a brighter financial future. |
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| For younger generations, getting financial advice from influencers on social media can be highly misleading. TikTok alone is flooded with videos that promote side hustles like dropshipping—direct-to-consumer digital storefronts where the dropshipper doesn’t hold product inventory—affiliate marketing and more. We’ll provide some insight into what to watch out for when scrolling your feed. |
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| Do you know how much you’ll need to retire comfortably? While the number varies depending on lifestyles, it’s important early on to set a mark that you can work toward, so that you’re not frantically playing catchup later in life. Forbes has information on funding a 401(k) vs. an IRA, and other options in between. We’ll talk employer matches, vesting and contribution limits to give you a better picture of your options. |
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| You don’t have to be a Wall Street hotshot to invest in the stock market—but you should have a plan before you start making trades willy-nilly. We’ll dish out some advice on the importance of recognizing your savings goals and starting small, explore the advantages and pitfalls of brokerage accounts, and the importance of diversification. |
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| Let’s get started on this journey together. I am positive that you’ll learn a new tactic or find the motivation to start saving—even if just a little bit—by the end of this newsletter series. Our team had a whole lot of fun putting these newsletters together for you, and we can’t wait to see you in your inbox tomorrow. |
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