- 3 Reasons Why You Need A Rainy Day FundPosted 4 years ago
- 10 Best Warren Buffett Quotes [Infographic]Posted 4 years ago
- Best Time to Buy List – 3 Items for Every Month of the YearPosted 4 years ago
- How To Automate Your FinancesPosted 4 years ago
- Important: Get Your Financial Shit In Order Before You DiePosted 4 years ago
- The Debt Argument: What You Should Pay Off FirstPosted 4 years ago
3 Easy Ways to Learn About Investing
Raise your hand if you’ve tried to learn about investing but got discouraged. Oh yeah, I see all the raised hands out there. I’ve been there too, and I know it’s not easy to get accustomed to the “investing language.”
The good news, though, is that you don’t have to be well educated to understand investing. You just have to practice and read a lot. Slowly but surely, with enough practice, the entire process of investing and those lofty investing terms will all start to make sense.
Here’s how to get there:
1. Start Each Day With the News
Whether you are old school and like to read the paper in the mornings or enjoy reading the latest trends on your smart phone, make sure to read news about the business world every day. Many people tell me they don’t have time for this, but if you know what Kim Kardashian’s baby looks like, then you have time to learn about Facebook’s third quarter earnings.
I’ll be honest; at first, it’s not going to be enjoyable to read the business news. It might be downright boring, especially if you’ve never been drawn to it before. However, you’ll soon start to recognize companies that you like. You’ll start to notice different trends. Reading about one jump (or drop) in the stock market might get you interested in different funds. Essentially, you’ll be the one among your friends who can speak knowledgeably about financial trends, all just because you spend 15-30 minutes a day reading the headlines.
2. Collect the Essential Books
Once you get used to reading the news every day, you can start to collect some good books on money management and investing in general. Once you get accustomed to thinking about money and reading the news, you’ll actually enjoy learning more through building a small financial library. Check out the Money Street Smart reading list on our sidebar to see our top picks of books to read first!
3. Read Personal Finance Blogs
I know I’m a bit biased, but reading personal finance blogs are a great way to get excited about your financial future. The best thing about blogs is that they’re mostly written by real people, sometimes downright normal people who have made money mistakes in the past and are turning their lives around.
It’s truly exciting to read about people who get out of tens of thousands of dollars worth of debt and others who are reaching the million dollar mark in terms of their net worth. Getting to know bloggers in the personal finance niche will get you excited about your own money decisions, and you’ll start to notice patterns of those who have made really successful investments.
I personally enjoy reading about those who are about 5-10 years ahead of me in life and everything they are doing to ensure they invest wisely and retire early.
Ultimately, learning about investing is so much easier than you think, so don’t get discouraged! All it takes is a little bit of time, some basic effort, and you’ll be a member of the club in no time.
How did you learn how to invest?
Photo Credit: StockMonkeys.com