What are some easy ways to become financially literate?

[End Poverty]

I don't know much about mortgages, taxes, insurance, investing, loans, and interests.  What are some available resources to learn more about finances?

If I get into med school, I will be able to cover most of my medical school costs without loans if I lived a simple life style. However, I do feel that I am very financially illiterate. I only know how to budget and save money - but that's about it!! It's my new year's resolution to become more financially literate so how can I educate myself about finances? My friend recommended a book called white coat investor, but I was wondering if any of you know about any other resources written in very simple language.

Thank you so much  

 

 

[la marzocco]

1 hour ago, End Poverty said:

I don't know much about mortgages, taxes, insurance, investing, loans, and interests.  What are some available resources to learn more about finances?

If I get into med school, I will be able to cover most of my medical school costs without loans if I lived a simple life style. However, I do feel that I am very financially illiterate. I only know how to budget and save money - but that's about it!! It's my new year's resolution to become more financially literate so how can I educate myself about finances? My friend recommended a book called white coat investor, but I was wondering if any of you know about any other resources written in very simple language.

Thank you so much  

I found the Intelligent Investor to be easy to read and high yield to learn how to approach investing. How to approach investing helps you develop an attitude towards it so that you do not fall into emotional traps - investing is and can get quite behavioural. Learning how to set a healthy attitude and managing your investments that is at a "sweet spot" for your risk tolerance is important.

For taxes: http://www.ey.com/Publication/vwLUAssets/EY-Canada_Managing-Your-Personal-Taxes-2017/$FILE/EY-Managing-Your-Personal-Taxes-2017-Canada.pdf This is my go to - you get a good summary of all the relevant personal tax topics. They have a pub every year. 

Loans and interests are basic finance - you can probably look up those in Investopedia and watch some youtube videos on that. 

[Mithril]

Once i got into med school I booked a few appointments with MD Management. I still see my financial advisor at MD Management. They're a pretty great resource and their services should be covered by your professional association dues. 

[shankarpro]

On 12/24/2017 at 2:19 PM, Mithril said:

Once i got into med school I booked a few appointments with MD Management. I still see my financial advisor at MD Management. They're a pretty great resource and their services should be covered by your professional association dues. 

Seconded. 

They will do a debt projection, help you with your budgeting, provide insight on how medical school finances play out and give advice on how to gain as many grants as possible. It's helpful to just meet 1-on-1 to go over your financial plan with them- my advisor surprised me with some things I never thought about!

[End Poverty]

16 hours ago, shankarpro said:

Seconded. 

They will do a debt projection, help you with your budgeting, provide insight on how medical school finances play out and give advice on how to gain as many grants as possible. It's helpful to just meet 1-on-1 to go over your financial plan with them- my advisor surprised me with some things I never thought about!

 

On 12/24/2017 at 0:19 PM, Mithril said:

Once i got into med school I booked a few appointments with MD Management. I still see my financial advisor at MD Management. They're a pretty great resource and their services should be covered by your professional association dues. 

 

On 12/24/2017 at 11:09 AM, la marzocco said:

I found the Intelligent Investor to be easy to read and high yield to learn how to approach investing. How to approach investing helps you develop an attitude towards it so that you do not fall into emotional traps - investing is and can get quite behavioural. Learning how to set a healthy attitude and managing your investments that is at a "sweet spot" for your risk tolerance is important.

For taxes: http://www.ey.com/Publication/vwLUAssets/EY-Canada_Managing-Your-Personal-Taxes-2017/$FILE/EY-Managing-Your-Personal-Taxes-2017-Canada.pdf This is my go to - you get a good summary of all the relevant personal tax topics. They have a pub every year. 

Loans and interests are basic finance - you can probably look up those in Investopedia and watch some youtube videos on that. 

Thanks everyone Happy Holidays !!!