jinijALL ABOUT THE MONEY!
What I’ve learned At A Free Personal Finance Class
I have been to my share of personal finance workshops, classes and read enough on the subject to write a book (Maybe ill do that). Anyway, I took a personal finance class a few days ago and wanted to share my experience and some of what I have learned. I would like to point out that this was a free class that was given at my local library by a professional in the financial field. I am sure that your local library has classes like these that are free and I highly recommend you call and find out.
Now, why is it that more people do not take advantage of free, invaluable information like this? The class could have easily hold 150 people, but only 35 was in attendance and from the question being asked most were well educated in the subject. Only a few did not know about investments and retirement planning. The way I see it, the people that need it are too busy trying to make ends meet and the ones that can do without, have the time to take advantage.
The group teaching the class was from a local business and just gave enough information to make you want to hire them for their services. They did however cover some important topics that the new comers to personal finance can use. The real lesson started after they open up the Q & A portion of the class. One guy that looked like he was in his mid 50′s ask “Do you think it is wise to start investing again?” That was the question of the day and seems as if all the people that knew about investing, wanted an answer to this. “It depends on your portfolio, what type of investments you are talking about and a lot of other financial information. It is always safe to make long term investments, short term investments is always risky.” This was not the answer they were looking for, but in my opinion it was the right answer.
Short term investments are for thrill seekers and companies with deep pockets. If you are young, long term investments is always a sure thing. If you are at retirement age and short on funds you should definitely not consider buying and selling stocks to make a quick buck. The instructor tried to break it down the best he could before time ran out, but it was clear they just want conformation and not sensible advice.
All in all it was fun for me to sit there and listen. I personal did not learn anything new, but did get a few reminders that I will write a few articles about in the future. I do recommend you take a personal finance class if you are new to the subject, it will give you a clear understanding of what it will take to get your finances in order.
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