Category: Education

Where to Learn About Finance

If you feel that you want to learn more about finance then you may wonder where to look. Whether you want to know about debts, savings, investing or something else, there are many places that you can find out information. Of course you will want to make sure that the information you are looking at is accurate and up to date. It is worth understanding about the different places that you can learn about finance and how reliable they are likely to be.

Books

Books can explain things clearly and can be laid out in a way that is easy to understand. You can pick them up when you are in the mood and put them down when you want to absorb information or when you need a break. They can be good for explaining basic information that does not change such as the differences between different types of loans or things like that. If you get a book from a trusted author or publisher then the information is likely to be accurate at time of publishing. Information does get out of date though and sometimes a book will be out of date before it is even published. It is good to read reviews of a book before buying to see what other people think about it. They will be able to let you see whether others feel the book was useful, if it contained lots of information or just obvious things and how well things were explained.

Magazines

Magazines tend to be more up to date than books because they are published more often. They may specialise though in certain aspects of finance, such as investing, rather than being more general. They may also assume that you have a certain level of knowledge. Make sure that you flick through a magazine and read bits of it to make sure that it has information that is relevant to you and that you understand. It can be easy to feel intimidated by magazines which have difficult language or look very dull and so do not be afraid to return these to the shelf without buying them.

Websites

Websites can be a great source of information. There are so many of them and you wil be able to find out a lot of things. However, the fact that there are so many websites can create a problem. It means that you will not know which are worth looking at and which are not. There is a lot of incorrect information online as well because it is not monitored or checked by anyone. You can even find the same incorrect information spread across a variety of websites. So how do you avoid reading false information? The best way is to go to highly trusted sites. The Citizens Advice Bureau and Money Advice Service have a lot of information which is put in simple terms and is free to access. Money Saving Expert has a very detailed finance website which is full of practical ideas and even has details of accounts paying the highest interest or with the lowest charges.

Friends and Family

It can be good to discuss financial matters with friends and family, particularly if they are older than you. They will be able to tell you about their experiences of finance. It may be that they have been in debt and found their way out of it or that they have avoided debt. They should be able to give you some useful information about their personal financial journey and this could help you to make decisions about whether you should save more money, take out investments or loans etc.

Financial Advisors

A financial advisor is knowledgeable in finance and therefore will not only be able to recommend financial products to you but also explain finance to you. They will be able to answer your questions directly which can make them a great source of information. However, they will charge you and their rates can be very high. To get around this you could see whether you bank has a financial advisor. They will only be able to recommend products provided by the bank, rather than being independent and finding the best products from across the whole market, but they should be able to answer more general finance questions as long as you show some interest in their products. You do not have to buy from them, but some people may feel obliged to so be wary of this as it is unlikely that their products will be the best for you.

It is worth looking at a variety of sources when you are learning about finance. Knowing about different aspects of finance and facts surrounding that is important but understanding personal experiences can be valuable too. Knowing which specific accounts, loans, pensions, investments etc are best for you is also extremely important but you need to understand the basics before you can make this decision. Knowing about fiancé is so valuable for all of us and the more you ca learn the better. Just make sure that the sources of information that you use are reliable.