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Personal Finance for Beginners: Your Path to Financial Freedom
A Comprehensive Guide for Beginners
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Narrated by:
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Michael Johnson
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By:
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Nikko Addison
About this listen
Mastering Money: An Introduction
Introduction: Money, an integral aspect of modern life, is not about mere accumulation, but the myriad of choices it provides. A quote from Chris Rock captures this essence by stating, "Wealth is not about having much money; it is about having many options."
Understanding Personal Finance: Personal finance is the art and science of managing money. Beyond just earning, it involves saving, spending, and reinvesting in alignment with individual financial goals. Shockingly, many Americans remain uninformed about managing their finances, leading to crippling debts. As of August 2023, household debt saw a $2 trillion spike since December 2019.
Financial Intelligence and Seeking Advice: Consistency and a concrete plan are pivotal to financial success. Many find their earnings disappearing quickly due to mismanagement or a lack of understanding. Financial advisors can be of assistance in these scenarios. However, individuals first must understand their financial situation. Educating oneself ensures better decision-making and reduces over-reliance on third parties.
A Systematic Financial Planning Approach: For financial success, an individual must:
- Evaluate their current financial situation.
- Set clear financial goals.
- Develop a comprehensive financial plan.
- Execute the plan.
- Continuously monitor the plan's effectiveness.
- Periodically re-evaluate and adjust the plan.
Five Pillars of Personal Finance:
- Income: The lifeblood of one's finances, income comprises salaries, dividends, wages, and other cash inflows.
- Spending: This involves all expenses; be it service payments or purchase of goods. Crucially, one's spending should always be less than their income.
- Savings: Representing the leftover money post expenses, savings act as a buffer against unforeseen financial challenges. However, merely letting savings sit in a bank isn't ideal due to inflation. It's wise to invest these savings.
- Investing: The purpose of investing is straightforward: to grow one's money. While there are inherent risks in investments, one can significantly increase their wealth with the right knowledge and strategy.
- Protection: Often overlooked, protection is about securing one's wealth against unforeseeable setbacks like illnesses or accidents. This encompasses life insurance, health insurance, and planning for retirement.
Mastering money and personal finance isn't solely about accumulating wealth. It's a multifaceted discipline involving wise earning, spending, saving, investing, and protecting assets. By understanding and practicing the principles of personal finance, individuals can secure their future and expand their choices and opportunities in life.
©2023 Larry James Billingslea (P)2023 Larry James BillingsleaListeners also enjoyed...
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Story
El autor estaba en bancarrota, en solo dos años y medio se convirtió en millonario y construyó una de las más grandes firmas de consultoría para el éxito. Con sus enseñanzas ha tocado la vida de millones de personas. Este audiolibro te enseña a observar como piensas. Es un reto a tus ideas que te limitan, a los razonamientos que no te apoyan y a tus acciones con respecto al dinero.
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El libro está bien, pero ES VERSION RESUMIDA
- By alexnvlp on 08-24-23
By: T. Harv Eker
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How to Day Trade for a Living
- A Beginner's Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology
- By: Andrew Aziz
- Narrated by: Kevin Foley
- Length: 6 hrs and 56 mins
- Unabridged
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Very few careers can offer you the freedom, flexibility, and income that day trading does. As a day trader, you can live and work anywhere in the world. You can decide when to work and when not to work. You only answer to yourself. That is the life of the successful day trader. Many people aspire to it, but very few succeed. In the audiobook, I describe the fundamentals of day trading, explain how day trading is different from other styles of trading and investment, and elaborate on important trading strategies that many traders use every day.
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Its a sales pitch
- By Xavier Foley on 02-08-18
By: Andrew Aziz
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Plan Your Year Like a Millionaire
- By: Rachel Rodgers
- Narrated by: Rachel Rodgers
- Length: 2 hrs
- Original Recording
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Plan Like a Millionaire is part of a riveting three-part series, and it's all about elevating your game and setting goals like a seven-figure earner. In this wealth-inspiring listening journey, Rachel reveals the secrets of how to set goals, manage time wisely, build essential support systems, break free from financial constraints, and make savvy money decisions.
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Feel Good Book, only
- By Maggie on 01-06-24
By: Rachel Rodgers
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The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime
- By: MJ DeMarco
- Narrated by: MJ DeMarco
- Length: 12 hrs and 46 mins
- Unabridged
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Since you were old enough to hold a job, you've been hoodwinked to believe that wealth can be created by blindly trusting in the uncontrollable and unpredictable markets: the housing market, the stock market, and the job market. I call this soul-sucking, dream-stealing dogma "The Slowlane" - an impotent financial gamble that dubiously promises wealth in a wheelchair. For those who don't want a lifetime subscription to "settle-for-less", there is an alternative.
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Excellent!
- By Iray007 on 09-22-15
By: MJ DeMarco
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The 1-Page Marketing Plan
- Get New Customers, Make More Money, And Stand Out From The Crowd
- By: Allan Dib
- Narrated by: Joel Richards
- Length: 6 hrs and 31 mins
- Unabridged
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To build a successful business, you need to stop doing random acts of marketing and start following a reliable plan for rapid business growth. Traditionally, creating a marketing plan has been a difficult and time-consuming process, which is why it often doesn’t get done.
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You Need to buy Book to get key info
- By Rosie's mom on 10-23-18
By: Allan Dib
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The School of Greatness
- A Real-World Guide to Living Bigger, Loving Deeper, and Leaving a Legacy
- By: Lewis Howes
- Narrated by: Lewis Howes
- Length: 6 hrs and 39 mins
- Unabridged
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When a career-ending injury left elite athlete and professional football player Lewis Howes out of work and living on his sister's couch, he decided he needed to make a change for the better. He started by reaching out to people he admired, searching for mentors, and applying his past coaches' advice from sports to life off the field. Lewis did more than bounce back: He built a multimillion-dollar online business and is now a sought-after business coach, speaker, and podcast host.
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Buy the book, not the audiobook.
- By Eric on 12-30-15
By: Lewis Howes
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Money. Wealth. Life Insurance.
- How the Wealthy Use Life Insurance as a Tax-Free Personal Bank to Supercharge Their Savings
- By: Jake Thompson
- Narrated by: Alan Caudle
- Length: 1 hr and 27 mins
- Unabridged
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America's elite have been using cash value life insurance to stockpile wealth for centuries. Used correctly, it is better described as a personal bank on steroids, and a financial bunker for tough times. To be clear, this audiobook is not about the typical garbage peddled by most insurance agents. Rather, an alternative to the risky investment strategies taught by Wall Street. It details a highly efficient form of cash value life insurance designed to supercharge your savings and stockpile wealth.
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what the heck was this?
- By Gladys Torres on 10-20-16
By: Jake Thompson
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How to Achieve Financial Independence and Retire Early
- By: JD Roth, The Great Courses
- Narrated by: JD Roth
- Length: 4 hrs and 39 mins
- Original Recording
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In this audiobook, Roth takes you inside the trending world of financial independence and early retirement, giving you the tools both to achieve financial independence and to improve the quality of your everyday life. You'll explore the ins and outs of the "FIRE movement", a collection of ideas and habits that allow people to manage their money so they can quit working while they're young. You'll consider the shockingly simple math behind financial freedom.
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I expected more from a great courses audio book
- By Tony on 03-07-21
By: JD Roth, and others
What listeners say about Personal Finance for Beginners: Your Path to Financial Freedom
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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- Timothy G Butler
- 10-28-23
In a cup I can drink from
I have a degree. In the past I have just not been able to grasp financial literacy.
Personal Finance for Beginners by Addison makes financial literacy simple, relevant and relatable.
By giving simple personal examples, and tracing the writer’s personal journey to financial literacy, the subject is presented in bit sized pieces that are easy to grasp, chew and consume.
GROW. Ground work, Return, Optimize and Weather-too easy to begin the journey that is completely laid out in this fun to read, easy to grasp information that financial literacy in a cup even I can drink from wherever needed.
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