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Personal finance reboot; 11 equations you should understand; Managing money in your 50s; Tips for 20 somethings; Reminders at any stage and age

Posted in Personal Finance

By Amanda Morrall

Folks if you missed my earlier announcement, this week marks my final delivery of this column.

I previously suggested that you start book marking some of these links I use so you can periodically remind yourself of some of these issues I have broached in the context of my money column so you don't end up old - and poor. Okay admittedly that's a bit harsh but you know, scare tactics sometimes work. 

1) Reboot

I'm a terrible one for reboots. Instead I put my computer to sleep and then grumble when it stops running efficiently.

My IT savvy brother reminds me occasionally "Uh, have you tried turning your computer off." As most of you computer addicts know by now, it's important to switch the devices on and off now and again otherwise they freeze up.

The same principles applies to one's personal finances. Not that you are turning your mind on and off to them, rather they do require the occasional reboot and refresh.

Here's some tips from the Wall Street Journal on how to go about your personal finance reboot. 

2) 11 equations you should understand

I know most of you regular readers don't need to be told what an amortisation rate is or how simple and compound interest is calculated however chances are one of the 11 essential personal finance equations listed here via www.dailyfinance.com will catch you out.

Print them off and quiz your spouse and or kids at dinner this week. Not sure you'll get dessert but maybe...

3) Money in your 50s

So, you think you have it all sorted by your 50s? In life and personal finance, perfection is unattainable. Rather, it's something we strive for if we want to do it well. Learn from this example, carried by the Globe and Mail, about where, why and how to sharpen your personal finance edge when you head into this stage and age of life. It'll happen sooner than you think.

4) 20 somethings

I mentioned in my last column that I didn't have any big financial regrets save not get switched onto to personal finance at an earlier age.

For the benefit of those in their 20s wanting to avoid making the big mistakes most of us make and wake up to 20 years later, check out the following (also from the Globe and Mail) on how to get started on the right foot in your '20s.

5) Across the ages

In my household, we have some interesting conversations about money especially since my youngest has developed a car fascination and a taste for expensive, fast automobiles. He grasps that the Lamborghini Aventador is going to be a bit out of his price range (unless he becomes the next Bill Gates) and understands that if he saves early the Nissan GT-R is a bit more realistic. Personally, I'm hoping he'll discover a life-long love for his two-wheeler but alas I'm a bit of a stick in the mud.

Here's some tips for all ages and stages via CNN Money.

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

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4 Comments

All the best. I'll miss your

All the best. I'll miss your columns ;(

Thanks Amanda for persevering

Thanks Amanda for persevering with us and helping us to become financially and emotionally better off :) Your writing always showed your passion for helping others to improve themselves, and I've learned a lot and thought a lot because of reading your columns.
 
All the best for whatever you do next!

For long they traveled in

For long they traveled in quiet days even as light faded in the distance.
 
A storm blew up, the day grew short and fruit of yesterday reaped its bitter harvest.
 
Some built themselves barricades and hid behind thoughts in misshapen fancy.
 
A few were captains of convention claiming skills of navigation they did not have.
 
But many stumbled, blinded by anxiety and washed away in fear.
 
Amanda saw people behind voices and threw life preservers into swirling waters.
 
Through cold light of crystal diode she strode, clear of voice and clothed with compassion.
 
Across the unstable decks again and again, throwing hope to either side.
 
Many caught a glimpse of her passing but fewer saw what she was doing.
 
But for these few we saw the heart of a Lion passing - and it was magnificent.
 
And by those whose tired arm found rest in a preserver she will be fondly remembered.

Thanks Amanda for all your

Thanks Amanda for all your columns. I've read them all.
Stay in touch regarding MMM's possible travels down under.