Are you financially literate?
Let’s back up? Are you literate?
I’m not trying to be offensive, and you may laugh, but this is an important question. If we are literate, we can read and write, which means we can be educated. And educated populations are good for the world.
According to UNESCO, higher education is a cornerstone for sustainable development. It creates new knowledge, teaches specific skills and promotes core values like freedom, tolerance and dignity.**
So literacy leads to education and education leads to all kinds of literacy…like financial literacy.
In its simplest form, “financial literacy” is the ability to effectively manage one’s money, which, as you probably know, can lead to a fulfilling life.
So…back to the first question: are you financially literate?
Faller Financial is an investment firm so we don’t get into the money management weeds with investors. But occasionally we discuss financial literacy with our borrowers who may be struggling to make a mortgage payment or dealing with unplanned financial hardship, etc. So, let’s get into it.
5 helpful financial literacy resources
1. MoneyControl.com (moneycontrol.com) – Great, simple resource for looking up the definition of financial words.
2. MyMoney.gov (mymoney.gov) – Super practical content and no advertising. Love it.
3. The Dave Ramsey Show (daveramsey.com) – I don’t agree with everything Dave says but I like his story and all the good he’s helped create in this world—helping lots of people eliminate debt. He has a lot of helpful principles.
4. The Financial Diet (thefinancialdiet.com) – I like this site because it has lots of practical tips written by a variety of good writers with diverse perspectives.
5. CashCourse.org (cashcourse.org) – This is a great way to enroll online for basic education, and I just love its mission: “We teach financial skills that make sense in the real world.”
5 helpful investing literacy resources
1. Investopedia (investopedia.com) – I never cease to learn something new when I visit Investopedia. It’s a great education tool.
2. The Street (thestreet.com) – This is one of my daily go-tos for market-related news and education. Always helpful.
3. The Motley Fool (fool.com) – Lots of helpful stuff, and entertaining reading. The only thing I don’t like about fool.com is that it’s a bit ad-heavy these days.
4. P&L with Paul Sweeney and Lisa Abramowicz Podcast – A daily podcast from Bloomberg focusing on the latest market data with analysis from Bloomberg Opinion writers, Bloomberg Intelligence analysts and influential newsmakers who go deep.
5. Forbes (forbes.com) – It’s a mainstream site and maybe a surprise (on this list) but it never fails to educate.
Learn more about Faller Financial and Notes at fallerfinancial.com/note-resources.
Call 844-433-6683 or email firstname.lastname@example.org to sell your mortgage Note, or request a consultation at fallerfinancial.com/contact.
**Source: Six ways to ensure higher education leaves no one behind, UNESCO Policy Paper, 2017
Photo by Aaron Burden on Unsplash