Financial Management 101 Knowledge Base.

Hey guys! This page just serves to be a compilation of websites and articles that I have found to be useful over the last few months for leveling up my understanding of personal financial management. I did up a concept map as appended below to help organize what I think is one way to approach learning about the subject. Do note that the portioning of income has many schools of thought.

So without further ado, a list of the websites, organized according to that framework.

LEARNING HOW TO INCREASE ASSETS

• Learn what is an financial asset. (To the layman, services and products that do not depreciate or rather appreciate in value over time).
• https://www.investopedia.com/terms/f/financialasset.asp
• Managing your existing income.
• How to portion out and budget your income:
• Elizabeth Warren's 50 30 20 rule.
• https://www.thebalance.com/the-50-30-20-rule-of-thumb-453922
• Barefoot Investor's Buckets portioning.
• https://sustainable-living.blog/2019/02/24/barefoot-budgeting-understanding-buckets/
• Dave Ramsey's Budget Percentages. (Dave Ramsey has a rather hard-line stance on debt - I tend to agree, but make your own decision).
• https://wealthynickel.com/recommended-budget-percentages/#:~:text=The%2050%2D20%2D30%20Budget,-Another%20percentage%20based&text=In%20this%20budget%2C%2050%25%20of,toward%20savings%20and%20debt%20payments.
• Increasing your potential Income.
• Learn how to invest.
• https://www.nerdwallet.com/article/investing/how-to-invest-in-stocks - Basic article on how to start investing.
• Read up first before you go in to the market - Great authors and books to read can be found via this goodreads link - https://www.goodreads.com/list/show/6440.Best_Investment_Books
• Learn how to increase your income through side-hustles
• https://www.entrepreneur.com/article/293954

LEARNING HOW TO DECREASE LIABILITIES

• Learn what is a financial liability. (To the layman, services and products that depreciates over time).
• https://www.investopedia.com/terms/l/liability.asp
• Reducing your purchase of liabilities
• Only buying what you need and not what you want - Use some strategies in the following website.
• https://www.moneysavingexpert.com/family/stop-spending-budgeting-tool/
• Change your perspective on money and material possessions
• Charity and donations. 
• https://www.thelifeyoucansave.org/blog/9-positive-effects-of-donating-money-to-charity/ - article on potential benefits of donating. 

Disclaimer* These are some of the websites and books that I found interesting and useful for getting a grasp of how to manage my money. Please do your own work and make your own informed decisions (I am not a financial advisor).