Modern Times Require Resourceful People
One of the secrets to success is to be resourceful. Luckily we live in a very fortunate time with regard to the amount of information that is readily available for any person to access. The internet has opened up opportunities to watch YouTube videos, listen to podcasts and access blogs and websites like this one. In fact, the problem is that there is probably too much information and it is hard to know what resources we should be relying on and what information we should be consuming.
Over the past year, I have begun to consume a lot of these types of resources. Therefore, I will endeavour to add some of my favourites here for you. You will also find book reviews in my blog posts to help you decide if a book is worth your valuable time. I can’t emphasise enough how books have changed my life in recent years and how they can change yours too. I suggest you really try to make reading a daily habit.
1. Read Books
Listed below are six personal finance books that I have read over the past year that I recommend for beginning investors.
Reading can be all about acquiring knowledge or it could be equally about being inspired. I think we need both. Making reading a daily habit has transformed my life.
All about changing your relationship with money and working towards financial freedom.
Learning the value of long-term investing in index funds for a wealthy future. Really well explained for the novice investor.
Everything you need to know to get your finances in order.
An excellent guidebook for creating wealth
Written in 1926 this book explains the simple rules to follow to achieve wealth through several parables.
How reducing our spending and investing for the long term can change your life. Told through an engaging story.
These next three are more focused on productivity and habits or attitudes that can change the way that you live your life. They are all aimed at helping you to reach your own form of greatness.
I find that I can’t keep up with all of the reading that I want to do without using audiobooks. Being able to listen to books while commuting or walking is a game-changer for me. Check out Audible’s free trial if you haven’t tried it yet.
2. Use Websites
The internet is so vast that you may become overwhelmed. There are great websites, blogs and apps. But it can be hard to sort the great from the rubbish. Find something that you find useful and use it until you realise that there is something better.
Stock Market Game – This is the stock market game that all of my Young Investors Club students participate in
Compound Interest Calculator – This calculator is useful in planning for the future by seeing how much your investments will grow over time. You can also download the app to your phone.
3. Watch Videos
Check out these videos on my resources page.
There are so many video resources available through YouTube that it can be very confusing. Here is one channel that I subscribe to that I find quite useful.
But you should target a specific topic that you want to find out about, watch the content and if it make sense and seems credible then cross-check the information with other sources. If you want to subscribe to one then just select the one that you find the most useful, engaging or easiest to understand.
4. Create An Action Plan
‘If you fail to plan, you plan to fail’. This goes without saying. Once you have acquired knowledge and set yourself goals, you then need to create an action plan. This should contain predetermined targets that you wish to check off at particular points along your new financial journey. Be specific, have measurable goals that are realistic and achievable and that are set to be achieved by a certain date.
5. Act
Sometimes we can become obsessed with acquiring knowledge and inspiration. Buy what good are either of these things if we fail to act? This is something that I am also guilty of. How many books do I need to read on the same subject before I am ready to take action? Just get on with it and make corrections as you go.
Pingback: Debt: Ten Simple Tips For Getting Out Of It | The Finance Teacher