| json_metadata | "{"app":"Musing","appTags":["personal"],"appCategory":"personal","appTitle":"What should all young people know about money management / personal finance?","appBody":"<p><br></p>\n<p><img src=\"http://emprendedorescreativos.com/wp-content/uploads/2015/01/20lht-adolescencia.jpg\" /></p>\n<p><br></p>\n<p><br></p>\n<p>All young people should know the following:</p>\n<p><br></p>\n<p>It is essential to have an emergency fund of at least 3-6 months of your pantries</p>\n<p>The debts of your credit card are bad</p>\n<p>Spend only what you have</p>\n<p>Cars lose 20% of their value once you buy it, it is better to buy used</p>\n<p>Manage the difference between assets and liabilities</p>\n<p>Invests The younger the better.</p>\n<p>Invest in your financial education</p>\n<p>Be patient and persist</p>\n<p>A young person has to invest his money in his financial education. This can be through books, training, movies or experiences. By investing in yourself you will get the greatest benefits.</p>\n<p><br></p>\n<p><br></p>\n<p>Where to start?</p>\n<p><br></p>\n<p>First part Personal Finance</p>\n<p>Rich Father Poor Father of R. Kiyosaki, the classic of the classics in subjects of investments and personal finances. Here you will learn to differentiate Active and Passive, with very clear examples. This will allow you to understand what an investment is and what it is not to invest. I recommend that you start with this book, once you understand it, you can read more, such as \"the money flow quadrant\" of the same author.</p>\n<p><br></p>\n<p>The Millionnaire next door (the millionaire next door) by Thomas Stanley, in this book you will see that most millionaires live a totally normal life, nothing luxurious and even frugal. This breaks the pre-conceived ideas.</p>\n<p><br></p>\n<p>The Total Money Makeover by Dave Ramsey, indispensable to read it. Apply the 7 \"baby stages\" to achieve financial security.</p>\n<p><br></p>\n<p>How to manage your money when you do not have any (how to manage your money when you do not have) by Erik Wecks, very fun without being essential. I recommend it if you have time and you know English.</p>\n<p><br></p>\n<p>The quadrant of the flow of R. Kiyosaki's money, do you know what quadrant you are in?</p>\n<p><br></p>\n<p>Second part Investments</p>\n<p>Before investing you have to learn and read. I recommend these two books that will help you before making any decision. In what you are going to invest these books will serve you. In my opinion they are the basis of ALL investment.</p>\n<p><br></p>\n<p>The Intelligent Investor of B. Graham, this book is the basis of what the famous Warren Buffet did, it is called \"value investing\" (investment of value). This book is the Bible of any investor. You will learn to select actions and minimize risk. It is not a method to become rich in a few weeks but to invest in the long term. I recommend it once you know and understand how markets work. And above all, you have to read BEFORE investing, nobody will contradict me.</p>\n<p><br></p>\n<p>The Single Best Investment (the only best investment) by Lowell Miller</p>\n<p><br></p>\n<p>How to make money in dividend stocks (how to earn money in stocks with dividends) by Dave Brickell</p>\n<p><br></p>\n<p>I hope my answer has served you, give me like to support me!</p>\n<p><br></p>\n<p>To buy the books.</p>\n<p><br></p>\n<p>If you do not have time to read, I made a summary of Rich Dad Poor Dad </p>","appDepth":2,"appParentPermlink":"f3gyzwzl5","appParentAuthor":"fahadk222","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
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