When it comes to making wise investment decisions and accomplishing financial your goals, financial literacy is essential. It is very easy to make costly errors if you don't have a thorough understanding of financial principles and investing possibilities, trust me I've made some myself and seen plenty more made by others along my journey.
There are numerous resources for learning about investing in Australia. Several possibilities are:
- Blogs - There are hundreds of people sharing their stories online, telling you all about their financial pit-falls for you to avoid and wins for you to model your own choices on.
- Podcasts - A growing medium that has some of the smartest minds coming together for conversations and sharing information that you need to achieve your financial goals. Try typing personal finance into your podcast player and see what comes up.
- Government websites - Such as Money Smart, Australian Taxation Office, & Australian Securities & Investment Commission, all provide no-nonsense, clear & trustworthy information, the Money Smart website even has some great calculators to play with.
- Australian Shareholders Association - An organisation run to ensure investors are well informed in the Australian market. They provide many educational resources such as webinars, seminars, and further online materials.
- Online investment platforms - Online platforms can be a great source of personal finance information, I have previously shared a number of articles provided by different providers. Be sure to sign up to their mailing lists.
- Your friends - I know this one seems odd, and maybe don't trust everything that your friends have to say, but start the conversation, and see what you can learn from them and what they can learn from you, just be sure to double check on these learnings!
- Financial advisers - Self-serving I know, but a relationship with an adviser can prove extremely prosperous. Educational materials, social media updates, and long conversations about the questions you want to be answered. Us financial Advisers (or Provisional Advisers in my case), love to consume content about personal finance, and the current state of the economy, both global and Australian. We then cherry-pick what we think is the most important to share and get it out there. So save yourself some hassle and give an adviser a follow or reach out for a chat.
It's crucial to keep in mind that investing is always risky, personal finance is hard, you will have wins and you will make mistakes. Start with a goal in mind, and work towards it, when you fall get back up, when you learn something new and have a win, celebrate it. Financial literacy is a lifelong journey, don't forget to enjoy it along the way!
