I read a lot of personal financial blogs, my IGoogle page is filled with feeds from over 20 of the best finance sites and blogs on the web. Every day I spend about an hour reading about how to save money, how the world’s economy is holding up, strategies and tips from the people that take their finances very serious, in fact one of my favorite blogs is I Will Teach You To Be Rich by Ramit Sethi. I can’t say I read his book, but I read his blog because he sometimes gives great advice and the comments help me to see what people really do with their money. I recommend you subscribe to his RSS feed.
I also subscribe to the financial section of the New York Times, Financial Times, LA Times, CNN Money, and a few others to keep up on fresh credible financial information. The reason I’m telling you this, is to make a point about how what we don’t know can hurt us. I have gathered some great information that has helped me make some very successful decisions with my money, some small, but helpful and some have saved me thousands.
Which brings me to the question. How much do you know about what is going on around you in terms of money? Yes, you might save some money on double coupon days or at the Macy’s one day sales, but how much do you really know about saving, investing, banking and the likes.
When large banks like Washington Mutual went bankrupt last year I knew the same day they filed chapter 11 papers in court, some people banked with them did not know for weeks and when they found out they did not know what to do. The point is, information is important and your money is also important, so why not take the time to keep up with the world and some very savvy financial experts.
I’m not saying you should learn how to decode the hieroglyphics of the New York Stock Exchange or the ins and outs of guaranteed unsecured loans, but to read a few news sites and blogs. Some of my friends spend hours on FaceBook and Twitter Tweeting the day away. I know some of you are guilty of it too and there is nothing wrong with doing what you like but, I see a huge problem when you rely on Tweets to get news about your money (Not saying you do, but I know people that do). Take some of that time and do something that will benefit you and your future, read CNN Money, find a good credible blog that gives good advice and make it a part of your daily read.
One of the blogs I read is Money Saving Mom , this woman provides a great public service to anyone who is willing to read her posts. She shows you how she balances her life on as little as she can, where to find deals, and where and how she shops to save money. Her blog might not fit your lifestyle, but there are hundreds of blogs that will, just Google “personal finance blog” and a million will pop up.
I’m not a financial expert in any way, I never went to school for it or even took a class about personal money management, but I do stay proactive and keep up with the world of finance to help me with my money and I believe everyone should, including you.