As someone who is financially illiterate, but doesn't have the time or knowhow to separate the good ones from all the spam out there... can you recommend any good courses?
MoneySmart - the official government course that covers the basics: https://www.fdic.gov/resources/consumers/money-smart/teach-m... It's intended to be instructor led but all the resources are available on that page. It is not an overwhelmingly thrilling course but it will get you through the material.
If you want a software aid, YNAB is pretty good and is based on a solid set of principles. https://www.youneedabudget.com/the-four-rules/ Obviously lots of other options exist to manage your money and YNAB is not the only option, but it's a good one.
If a resource suggests any kind of particular stock picks, crypto or other "investments", it's bad. It exists to sell you a product.
Thank you! These are great resources. I've started skimming through them and will learn more in the weeks to come. Just created my budget for the year, which is a great start, but I have a lot more to learn.
Save money from each paycheck. If you're just starting, put this into an emergency fund (savings account) until you have 6 month's take-home pay saved.
Then start savings in equities. You should diversify this, i.e. in low-fee index funds. Do this in an IRA or other tax-advantaged plan your employer might offer. Don't watch this too closely or try to time the market. Just invest with every paycheck.
Understand the time value of money. Don't go into long term debt for short term needs or consumables. Live below your means so you can save more and maximize compounding gains in savings/investments.
Do these things and you are well ahead of most people. If you want to get more sophisticated at that point, look for courses or professional advice, but remember pros rarely beat the market.
