I was once a financial dummy myself, the first time my Mom told be about CD’s I told her “they will eventually change to something new like how they changed from cassette tapes so, I don’t think it would be a wise long term investment.” Now I can laugh about it, but I was very serious when I said it back then. Now I have gained enough knowledge and wisdom in the ways of personal finances that I can help you to become knowledgeable as well. If you have no clue what a CD is then you should consider yourselves personal finance dummies and pay close attention to what you are about to read. Personal finance for dummies is also a book that you should consider reading even if your ultimate goal is to get an online masters in finance. It is designed for the beginner and has a wealth of information for those new to the subject.
If you are really interested in learning Personal financial management, the best place to start is in your kitchen. The millionaire next door is an excellent book that points out how self made millionaires spend many hours preparing and fine tuning their budgets. They cut coupons, pay their bills and plan their investments sitting right at the kitchen table. I suggest you gather all your bills, income, investments, pile them on the table and get them sorted and organized. I truly believe being organized is the first step to anything you do in life, it sets the foundation for planning and executing your goals. In the Personal finance for dummies book by Eric Tyson mentioned above and in almost every self help book I have read, the author outlines what prevents us from being successful and always in one way or another organization is mentioned. It is a skill you must learn in my opinion and in fact it should be a skill learned from a young age.
You have to remember that managing your personal finances will be a life long process and even though your situation seems urgent you should take it slow. Once you learn and start to implement these skills you will start to see money in a different light. It can become addictive in a good way making you want to learn more and try more. Learning the basic such as organization and budgeting is fundamental. Changing the way you handle your mail by developing a system that easily lets you know what needs to be paid, what has been paid, and what needs special attention is a great place to start making changes. One of my goals on this blog is to help you stay motivated after you have read books like Personal Finance for dummies. Motivation is a very fleeting thing, it takes constant refueling and even with the best of care it will fade.
I will continue this another time as it is getting late and I have a very busy day a head of me tomorrow. It is the opening day for my new company and I have much to do. Wish me luck!