
Money Management Skills
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3 months free
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Narrated by:
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Michael Finke
Money management can be intimidating. Fortunately, most of us only need to know a few basic principles to get our financial houses in order. Learn these principles in this comprehensive overview of what everyday people need to know to make good financial decisions. Using a scientific, evidence-based approach, Professor Finke shows how humans are hard-wired to make emotional decisions that often run counter to the best course of action when it comes to finances - and gives tips for how to avoid these common mistakes.
The goal of money management is to maximize our happiness at every stage of our lives. Whether you are a novice investor or a seasoned pro, starting your first job or contemplating retirement, these 24 straightforward lectures are an excellent primer for making successful financial decisions at every stage of your life. Professor Finke takes you on a tour of some of the most widely available financial products and tools, from mutual funds to life insurance to college savings accounts, and he offers evidence-based guidance for building a financial strategy.
After reviewing the psychology of decision-making - and how our instincts often steer us wrong when it comes to loss aversion, risk tolerance, and information overload - Professor Finke explains the "life cycle theory" of financial planning. This eye-opening theory offers a framework for making financial decisions based on the different stages of your life, and it will give you an entirely new perspective on money management. The goal is simple: to get the most out of your money across time.
While everyone's life is different, the information and sound advice in this course will empower you to create your own financial plan to reach your goals. From setting financial goals and managing debt responsibly to investing in home ownership and preparing for retirement, Professor Finke provides a worry-free approach to handling all aspects of your financial life.
PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio.
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Great book but I expected more
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It is informative, with advice about the purpose of different kinds of insurance and which you do and don't need. How to make different kinds of financial decisions. Whether to rent or buy. What financial products make sense for saving for your children's education. How to plan for distributing your assets when you pass on. Whether to use a debit or credit card. That kind of thing.
I can't help but feel it is a little dangerous in some ways, though. The author presents an interesting view I hadn't heard before on financial planning. That basically you could spend or save at any point in life so that you get about the same amount of value every year of your life. At points in your life where your earning power is low, you may take on more debt. When your earning power is high, you may be paying off that debt and saving more heavily. This makes a certain kind of sense, and trying to ensure a sustainable level of happiness does have value. I was quite surprised in a finance book for there to be absolutely no discussion of compound interest, of the staggering benefits of saving as much as possible as early as possible. This also disregards the idea of leaving money and assets behind for your descendents. To my way of thinking, we as a society would all be much better off if we worked hard and left something behind for the next generation, and they worked hard and left behind more for the next generation, and so on. Financial well-being would accrue massively after a few generations. But I know human nature tends to prevent that. Anyway! The author's suggestions also mostly disregard massive health costs that the elderly will accumulate, instead stating that expenses will decrease substantially in retirement, so you may not need to save as much as you think. Certainly some expenses are reduced or eliminated, but I don't think it's a good idea to count on not needing much money. Especially when accounting for inflation.
So all in all, this would not be my first choice of book to recommend to someone who wanted a basic financial education.
Mixed feelings
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Every Highschool student should read
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clear and engaging
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Buy it.
Really, really good.
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This is the first review I have ever written.
This course was exceptional.
It provided me with a better understanding of money management and has inspired me to take steps that I would not have known to take.
I give this course my highest recommendation.
A Must!
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Thank you Great Courses.
THANK YOU THANK YOU THANK YOU!
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Lots of good basic advice
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Would you recommend this audiobook to a friend? If so, why?
Yes, this is very practical and thought provoking approach towards finance. It really made me think and act on a few of my own financial plans.Any additional comments?
I would call this a must read for just about everyone, the lectures are not boring and the advice is something everyone should hear.Practical and important financial advice
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No nonsense, very informative.
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