April is National Financial Literacy Month, which is the perfect opportunity to take a few minutes to learn how money really works and apply simple lessons to our financial lives.
This movement (follow on Twitter using #FLmonth) is all about educating people to establish and maintain healthy financial habits.
Thanks to Steve from MoneyPlanSOS (who interviewed me on his podcast), a 2 minute video will be posted every weekday during April.
In week one, I made my first YouTube video debut, and talked about Being Self-Employed. I’ll be recording another one next week where I talk about Income Tax Brackets and Taxable Income (I promise it’s not as boring as it sounds)!
Week 3
April 16th – The Differences Between Stocks and Bonds
Marc Prosser from LearnBonds.com describes the differences between stocks and bonds.
Stocks: You own a part of a company. When a company makes profits you do well. You can get a piece of those profits back in the form of dividends or cash payouts. You can also see a rise in share price (value).
Potentially, you could lose your money.
Bonds: Safer than stocks. You don’t own a piece of a company. Instead, you loan a company money and they have an obligation to pay you back with interest. In terms of security, they are much more secure than stocks.
However, your up-side is limited because you get paid a fixed interest rate.
In summary: Bonds provide a fixed income stream and you are “first in line” to get paid by the company. Stocks give you potential upside with the possibility of greater returns but also the risk of losing money.
Watch the video on YouTube
Marc’s contact info:
April 17th – The Most Important Step to Debt Freedom
Bradley Vinson from BradleyVinson.com explains what he feels is the most important step to debt freedom; H.O.P.E for a life without financial stress.
- Hate debt
- Organize life
- Prioritize
- Engage with positive people
Watch the video on YouTube
Bradley’s contact info:
April 18th – The Benefits to Being Financially Resourceful
Julia Graylion (a fellow Texan) from PromisesFC.com encourages us to be resourceful, at home and at work.
Paying off debt and committing to live within your means is not only an acknowledgement of the finite nature of your money. Living within your means also incorporates using your time, your energy, your attention and all your limited resources so that you and others enjoy the maximum benefit.
As you find more ways to manage your household dollars, there will be an indirect benefit on how you manage your business resources. More resourcefulness shown at work sets you up for increased earnings, more benefit options and even promotions within the company or as other companies actively recruit you.
Way to go! Showing YOUR resourcefulness in visiting our group of Financial Coaches, Bloggers and Consumer Advocates during Financial Literacy Month 2012. Be a blessing and forward one (or all) of these video blogs to your facebook page or your twitter stream. Here’s to equipping YOU for your wildest success!
Watch the video on YouTube
Julie’s contact info:
April 19th – How Mutual Funds are like Chicken and Vegetable Soup
Jeff Rose (remember him from the RothIRA Movement) from GoodFinancialCents.com tells us how mutual funds are like chicken and vegetable soup.
It’s convenient: You don’t have to measure out the ingredients or even chose what goes into it. The hard work has already been done for you.
You’re hiring a mutual fund manager: A Mutal Fund Manager picks the best ingredients to make sure it’s the best it can be.
There’s variety: There are many different things that can go together and lots of options to chose from.
Watch the video on YouTube
Jeff’s contact info:
April 20th – 5 Rules For Having your Own Budget Party!
Brent and his wife from OnTargetCoach.com share 5 rules to follow when working on the household budget. I personally love this video, and thinks it’s a great way to stop dreading the monthly budget meetings. Throw a party instead!
1. Invite your spouse and schedule the party. Don’t spring it on them the last minute, they’ll freak out.
2. Bring snacks (or dessert) to entice your reluctant spouse to attend. Party hats optional.
3. Bring a timer. Spend no more than 30 minutes or the reluctant spouse’s eyes will glaze over.
4. Come prepared with the previous month’s budget, a calendar, and your current month’s budget proposal.
5. Agree. If you can’t agree, then you’ll have to go into party overtime until you can shake hands and play nice.
Watch the video on YouTube
Brent’s contact info:
I hope you’re enjoying all the 2 minute Financial Literacy Month videos this month. You can find them all at YouTube.com/MoneyPlanSOS.
Check back next week for another set of daily videos.
Photo Credit: twechy
I'm an ex-small business accountant who aims to help freelancers get out of debt and organize their life. And through the recently launched 
