What is Money?
However hard you try, you can’t deny that most of our life revolves around money. It’s sad but it’s the harsh truth. We all are working for it, living for it, and few are breaking their heart and dreams for it.
Two years ago I lost my job and was in debt, it almost broke me too. For that very reason, I decided to teach myself about money, everyone would say you should be responsible with your money but nobody would tell me how?
So, I took it to YouTube and started digging all the information I could to teach myself about money. Below are some of the best videos I found.
- How is money created?
- Why can’t we print enough money for all?
- What’s inflation? And how your money could worth nothing?
- How banks create almost 97% of digital money?
- What is debt? And how debt drives banking?
- How banks make a profit from our debts?
- Why housing keeps us poor and makes banks profitable?
- Why Tax? Who supports us? Government? Or do we, the people, support the government?
- Why is there Wealth inequality? Who creates it?
What is FIRE?
- What is Financial Independence Retire Early (FIRE)?
- How to be financially free?
- What is the FIRE movement?
- What is retirement and why you must retire early?
- You must achieve your financial freedom, retiring early is completely optional
- If you like TED talks, then you might like this guy (Mr. Money Mustache) talk about retiring early
- Find out how you might be able to retire early and live the life that you dreamt off
Is FIRE for you?
- FIRE movement might not be for all
- If you think you can’t cut back and live frugally, FIRE might not be for you.
- Listen to this couple who retired in 8 years with FIRE and see if you want to FIRE yourself
How much you need for retirement? The 4% rule.
- Is a million-dollar enough for retirement?
- Find out how much you exactly need (not want) for your financial freedom (As I keep saying retiring is completely optional)
- Knowing how much you need can help you break the shackles of this notion that we need a job to survive all life long.
- What’s the 4% rule? (I wrote about this in another post, and you can calculate your number here Steps for Financial Freedom )
Where to Start?
If you watched these videos and wondering how can you get started then start with the basics of investing. Take these baby steps.
Simple steps of Financial Freedom
In the latest blog post, I wrote about the steps you can take to start your financial freedom journey, which you can read here. Steps for Financial Freedom.
- Save more
- Create an emergency fund
- Pay off your debts
- Invest more
- Spend on education
I have written in detail why these steps are important in this post Steps for Financial Freedom.
This video summarizes most of those key points.
How to Invest?
- If you get intimidated by how to invest, not sure of what the stock market is and how to get started then watch this video
- How simple it is to get started in investments?
- Which stocks you should buy?
- What accounts you should have or need for investments?
- What are index funds?
- What is the total stock market index fund?
- What is VTSAX? And the only investment you might need.
I recommend you read the book for deep dive, get the book here
Making money is simple
- You don’t have to be crazy smart to earn more from your money
- How you can take few things right and enjoy your life
- Automate your investments and never think about losing it
- Ramit Sethi will guide you the Indian way to get more out of your money and investments.
You must read his book, get the book here
Conclusion
Financial education has been my priority because I was never taught how to handle money. The best advice I used to get that you should be responsible but seldom about HOW?
To educate me on the topic, I read few very good books, you can read my post on best-books-for-financial-education. Those books are the best way to start your financial journey and along with those, YouTube is another great resource to keep you motivated.
This post is about the videos I keep sharing with my friends and loved ones whenever they ask me about money.
If you like watching videos and want to learn more about money, investing, saving, and FIRE movement then you can explore the YouTube playlist I created here Best videos on Money.
I would love to watch/read if you can recommend any resources on the topic and will add them to the post.
Note: Post contains affiliate links.
