This week, inspired by Rich Dad, Poor Dad, I have been thinking a lot about improving my financial IQ and learning to take better care of my money. I already posted some intreresting links in my article “To be free from money you must think about money” a few days ago, and now it’s time for some more.
Here are my picks from articles that have popped up to my RSS feed reader this week:
- Learning personal finances: Petteri Hietavirta shares his financial history all the way from his childhood to today. The post highlights the importance of parents teaching their kids to use money wisely. While at it you should also check out Petteri’s take on insane loans.
- 100 Dollars and 30 Days!: Simon from Simon’s Money Notes asks us what we would do if given 100 dollars and 30 days to spend it wisely. How about buying some bread and sausages and selling hot dogs? Go ahead and leave a comment to Simon!
- Start Investing With as Little as $100: Leonid Shalimov from Cashbulge has written a nice introduction to investing if you only have a limited amount of money to use. This could be one good way to spend the $100 mentioned in Simon’s post.
- Friday Finance – Investing: How To Get Started: Yesterday was a lucky day for people looking for investing tips. First Leonid posted his tips and soon after that Josh Mullineaux shared some more ideas for getting started in investing.
Have a nice weekend! And don’t forget to check back on Monday for more information on the “Insanely Interesting September” project.
{ 6 comments… read them below or add one }
We just calculated with Veera, that when we invest KELA:s Child Benefit (100 euros per month) every month to an account with 10 % annual profit, when our child is 17 years old, he can draw out 350 € per month from his account for the rest of his life. The 350 euros is only the monthly profit to the invested money so far (approx. 50 000 euros).
What are YOU doing with your Child Benefit?
That sounds great! So are you planning to do that for your kid?
I think I’ll start by just investing something (not necessarily Oiva’s money) because if we learn how to do that, we can teach him in turn – and I think that’s what matters most. (Although being able to get 350 € / month for the rest of your life sure sounds great too!)
Of course there is taxes in Finland, that I didn’t count on that last one.. but still, the sum would be 250 euros (our country takes 28 % taxes from the income).
That’s our plan. :) But that’s only for our kids. Of course we will invest something to ourselves too!
Keep me updated on how things proceed! :)
Thanks for the link! Did you pick up any of those books I recommended
Not yet. I’m still saving money for my next Amazon order :)