5 Ways to Get Financially Literate
Congratulations, you’ve actually already done the first step by opening this article. Because getting started on your journey towards financial literacy starts with you getting knowledge about investing and here are 5 ways you can get financially literate. You’ve got the hunger and you’re here!
For some people a breakthrough happens when reading and reflecting, others by watching a video while others learn best by participating in a course and speaking with others about investing. The first step is really for you to reflect on how you learn things best and then implement what you learn. So many people read a book or listen to a podcast but forget to take an action and implement what they’ve learnt. A course can be a great way to hold yourself accountable for following through.
1) Read Investing Books
Beginner books explain investing in a language that most people can understand and take the reader by the hand when entering this world of investing. Get some inspiration in my article Eight Excellent Books for a New Investor or pick up one of the books I picked up this summer. These links are Amazon advertising links and I might receive a benefit if you buy the books by clicking the links.
Warren Buffett Accounting Book by Stig Brodersen and Preston Pysh,
Warren Buffett Portfolio by Robert G. Hagstrom, and
The Snowball: Warren Buffett and the Business of Life by Alice Schroeder.
2) Watch Investing Videos
But be picky with what you choose because there’s a lot of information out there and some investing strategies are risky. Choose videos with Warren Buffett style investing. He has proven over the past 60 years that his investing style is successful and safe (and not that difficult to follow). To get you started I created a Youtube Playlist for beginners.
3) Listen to Investing Podcasts
Harness the momentum of N.E.T. time (No Extra Time) by listening to a podcast when you’re commuting to work, in the gym or have time to kill between appointments. Instead of checking social media, get yourself educated. In the long run it will pay off to utilize every minute of your day to learn something. Feed your mind on some of these podcasts that I recommend.
4) Learn and Change your Spending Patterns
The first lesson on getting financially free is to not spend more than you earn, yet so many of us are brought up to believe that we must spend every penny. Start by studying your spending pattern. I wrote an article about how I changed my patterns, and a tip for an app to help you get going.
5) Invest in yourself
Warren Buffett is a huge advocate for investing in yourself and you can become more financially literate by investing a small sum of your money now and getting educated and learning how to build your wealth. I offer one-to-one coaching, themed sessions and an investing course and I would love to teach you everything I’ve learned. Sign up today for an investing course.
Accumulating knowledge without taking one action is wasteful. So, after reading this -take one small action to apply the learnings. Buy the book, schedule an hour in your phone calendar, watch the video, sign up for the course (you know what to do).
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