Sometime in December, my Dad bought both my sister and I The Wall Street Journal’s Guide to Starting Your Financial Life. He likely is shocked that I remember such a moment, and even more shocked that I’ve slowly made my way through the book.
Although informational, a book like this is more of a resource to go to than a book you have to read all the way through. My favorite so far is the preview to the investing section, when the author used words I could really understand:
Think of investing as something like fashion. If you found yourself with a completely empty closet, you might start with some basics- maybe some jeans and shirts. Then you would add your own style- flashy or conservative, dressy or dressed down, accessorized or plain vanilla.
The quote focuses on how a book can’t exactly tell you what to do (which would be nice!) but gives you the resources to help figure out your options and make a decision based on what you think would work best for you.
While this book was a good concrete resource, I also recommend using Mint.com, which helps you budget and break down your expenses into small categories and gives ideas on ways to save, or LearnVest.com (especially for ladies) which has all of the above, as well as specific articles on decreasing your spending or what is going on in the economy that affects you.
As I am JUST starting to have a steady income, I’m working more on increasing my savings and emergency funds than investing, but I’ll be sure to let you know if I start.
What do you use as financial resources?