What could be the best way to learn about money management and finance for a person not from a commerce background?
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There can be many ways one can learn about money management and finance without having a commerce background…
1.)Online Courses- There are several platforms like Khan Academy and edX who offer courses specifically designed for beginners. One can go for personal finance, budgeting, investing, and basic economics.
2.) Books- There are variety of books on this topic. From basics to advanced.
Some of the titles are mentioned below
Rich Dad Poor Dad by Robert Kiyosaki
The Total Money Makeover by Dave Ramsey
Your Money or Your Life by Vicki Robin and Joe Dominguez
3.)Websites and Blogs- Reading articles from trusted financial websites and blogs such as Investopedia, NerdWallet can help out .
These are most of the theoretical ways one can learn but to implement it one has to try it out or practically for example start by creating a budget, tracking your expenses, and setting financial goals. Real-life practice will help reinforce what you have learnt
I hope you understood well.
The best way to learn about money management and finance for a person not from a commerce background-
There are few steps to learn finance without a finance background-
Not just commerce students, but everyone should learn about money management and financial markets. It is an essential skill to have in the 21st century. Here are some ways to learn about finance-
Anyone can learn whatever they set their mind to. Dedicate your time to self growth and your own development. Become well read and knowledgeable.
For someone without a commerce background, learning about money management and finance can seem daunting but is essential for personal financial health. Start by familiarizing yourself with basic concepts through accessible resources like books, online courses, or reputable financial websites. Focus on understanding concepts like budgeting, saving, investing, and managing debt.
Practical experience is also invaluable. Begin by creating a budget to track your income and expenses, helping you understand where your money goes and identifying areas for savings. Explore different types of savings accounts and learn about interest rates and compounding to make informed decisions about saving money effectively.
When it comes to investing, start with simpler options like mutual funds or index funds, which offer diversification without requiring extensive knowledge of individual stocks. Take advantage of free workshops or seminars offered by banks or financial institutions to gain insights from experts and ask questions. Finally, seek guidance from financial advisors who can provide personalized advice based on your financial goals and situation. Building a solid foundation in money management takes time and patience, but with consistent effort and learning, anyone can develop the skills needed to navigate and grow their finances effectively.