
Money Management Skills
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Narrated by:
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Michael Finke
About this listen
Money management can be intimidating. Fortunately, most of us only need to know a few basic principles to get our financial houses in order. Learn these principles in this comprehensive overview of what everyday people need to know to make good financial decisions. Using a scientific, evidence-based approach, Professor Finke shows how humans are hard-wired to make emotional decisions that often run counter to the best course of action when it comes to finances - and gives tips for how to avoid these common mistakes.
The goal of money management is to maximize our happiness at every stage of our lives. Whether you are a novice investor or a seasoned pro, starting your first job or contemplating retirement, these 24 straightforward lectures are an excellent primer for making successful financial decisions at every stage of your life. Professor Finke takes you on a tour of some of the most widely available financial products and tools, from mutual funds to life insurance to college savings accounts, and he offers evidence-based guidance for building a financial strategy.
After reviewing the psychology of decision-making - and how our instincts often steer us wrong when it comes to loss aversion, risk tolerance, and information overload - Professor Finke explains the "life cycle theory" of financial planning. This eye-opening theory offers a framework for making financial decisions based on the different stages of your life, and it will give you an entirely new perspective on money management. The goal is simple: to get the most out of your money across time.
While everyone's life is different, the information and sound advice in this course will empower you to create your own financial plan to reach your goals. From setting financial goals and managing debt responsibly to investing in home ownership and preparing for retirement, Professor Finke provides a worry-free approach to handling all aspects of your financial life.
PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio.
©2014 The Teaching Company, LLC (P)2014 The Great CoursesAdvice primarily for US consumers
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Useful but more relevant to those in the US
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Quite dangerous advice given - based on lifecycle theory you should average out what you earn and spend in a lifetime so you borrow from your future self in early life (i.e. Drown yourself in debt) as your income is expected to rise in middle age and you can pay it off later. But this assumes your expenses stay the same, why do you need to spend like a 40 year old if you don't have a family and bigger bills?
US centric
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Good Lecture
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Aimed at the USA 🇺🇸 rather than other countries, so:
⭐️⭐️⭐️⭐️⭐️ if you are living in the USA 🇺🇸
⭐️⭐️⭐️⭐️ if living anywhere else
Nevertheless, the less it is well worth listening to wherever you live, and the principles can be applied to any country I think.
Very interesting and informative
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Any additional comments?
Personally, I'll do it again once I'm a bit older and have a job. At the moment I am a student at university and so a lot of the things that he talks about. (i.e. retirement and investing) are stuff that I cant really do at the moment. I really just wanted to know how to manage my money so that I could make it to the end of the month.Best to wait until you have a job.
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Highly recommended
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Useful but mainly aimed at US citizens
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