Monday, December 14, 2009

Financial Literacy: some online tools for study and practice purposes... (1)

It's been -in my opinion- good to witness and follow up as closely as possible the global effort that many governments have been carrying out intended to spread that badly needed basic financial knowledge to as many people as possible; even though that effort has involved launching many good websites and revamping others in order to offer a more complete informational frame of referenced about many small yet very important subjects for people to know (I hope to share with you on following posts a list of many of those websites), it's also good to realize that there are other free online alternatives such as many really easy to understand instructional videos.

I'd somehow dare to say that a key basic financial subject for people to get familiar with, should be the concept Time Value of Money.

It is my modest yet firm belief that if you want to become a savvy investor, learning and understanding as detailed as possible what Time Value of Money means, you should be able to understand with a bit of reading and practice the difference between how investments work on your favor and how credit cards work also on your favor... temporarily. As a fact of the matter, I also think that this is the bottom line of a good Money Management process.

The videos accompanying this note, will be the first part of a small series talking about Time Value of Money; I'll try to get rid as much as possible of the underlying technicalities focusing on the other hand on a basic practical perspective about its importance...

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