Personal Finance Can Be Scary
Personal finance is a scary topic for many people. The lack of personal finance education in our country is even scarier. If you sit around and wait for someone else to guide you in this topic, you may be sitting there for a long time. The longer you wait to address your finances, the greater impact it will have on your financial future. So what are you waiting for? Today is the day to change your financial future and educate yourself on what it takes to live a better financial life now.
If you are lucky you will get about a half semester’s worth of financial education before going to college. Otherwise, all you may learn about handling your finances is from what your parents teach you, your friends tell you and through costly trial and error. That’s not good enough, is it? No it isn’t.
No matter what stage you are at in your personal financial journey, there are probably areas that you could use more help with. There is so much to understand and keep track of: managing debt, saving, credit cards, mortgages, retirement, insurance, and saving for college to name a few.
Personal Finance Experts
There are many people out there who consider themselves financial experts. However, most of them are not. If you are taking financial advice from broke friends, family or co-workers the time to stop is now. I recommend the following people to help you better understand your finances and get closer to reaching your financial goals. These people have a proven track record of providing good solid financial advice and they have helped millions of people. Please realize that every financial situation is different and it does not hurt to consult with an financial expert in your town.
This post may contain affiliate links. Click here to read my full disclosure policy.
Money Girl (Laura Adams)
Laura Adams also known as Money Girl is a personal finance expert who does an amazing job of explaining complicated money matters in “everyday language that the average person could understand”. If you struggle to understand how financial products work, she can explain it to you. She has a wonderful podcast that she publishes every week. It is usually about 20 minutes long so you could finish an episode while driving to work or doing dishes. She also has all her podcasts archived and notes available for every show. I guarantee that you will find it easy to listen to her explain complicated financial matters in a language you can understand. If you like her podcast be sure to check out her books and join her Facebook group Dominate Your Dollars.
Profit Boss (Hilary Hendershott)
HIlary Hendershott also known as Profit Boss is a Certified Financial Planner who digs a little deeper into the relationship women have with money. She helps you get to the root of your money mindset and wants you to understand your personal money habits. She is good at helping you define and overcome pre conceived notions you may have about money. You can read her definition of the 5 Money Languages here. Hilary can help you explain why your attitudes and beliefs about money could be holding you back from creating wealth.
I know many people have heard of Suze Orman and many more might think she is outdated. However, she helped a generation of women learn to start talking about their money. Suze lost a large amount of money in her younger years because she didn’t understand investing. She was determined to help others avoid these same pitfalls. Suze had a number one show on MSNBC for years. Her book The Money Book for the Young, Fabulous, and Broke is still one of my favorite books about money.
The first time I heard about Dave Ramsey and his book Financial Peace my first thought was “why have I never heard about this guy before?” I think many people feel that way, because once you become familiar with Dave you wish you had heard his name much earlier. Dave became a millionaire in his twenties and then lost it all and went bankrupt before age 30. He was determined to find a better way to live than going into debt to survive financially. Dave come up with a system called the 7 Baby Steps that he followed with his wife Sharon. These baby steps completely changed their financial lives and he covers all of them in his book The Total Money Makeover. Dave has hosted a radio show dedicated to helping people dump debt for over 20 years, written multiple books and he now runs a multi million dollar company that started from a card table in his home when he was broke. Just listen to one of his debt free scream calls and I know you’ll be inspired too.
The daughter of Dave Ramsey, Rachel knows a thing or two about living a debt free life. She gives advice about kids and money, avoiding college debt, and general advice about budgeting and finances. She really understands the younger generation. I have a feeling Rachel will be taking over for her dad one day. If you want to teach your kids about money I recommend her book Smart Money, Smart Kids: Raising the Next Generation to Win with Money
If you are broke and struggling with money, these experts will help begin to change your money mindset and get you on track. Once you begin to pay attention to your money, you will be amazed at the positive changes that will occur.