What's Scarier than Halloween? Being Financially Illiterate.

[u/aBoglehead]

To fix this, watch these Khan Academy/Visa videos. The 20-part Youtube Series on Personal Finance can teach almost everyone something. The longest is around 18 minutes.

The series consists of:

• Part 1: Institutional Roles in Issuing and Processing Credit Cards *

• Part 2: Roth IRAs

• Part 3: 401ks

• Part 4: Basics of the U.S. Income Tax Rate

• Part 5: Inflation Overview *

• Part 6: Mortgage Interest Rates *

• Part 7: Time Value of Money *

• Part 8: Term and Whole Life Insurance *

• Part 9: Open-Ended Mutual Funds *

• Part 10: Estate Tax

• Part 11: Unemployment Rate Primer *

• Part 12: Traditional IRAs

• Part 13: What It Means to Buy a Company's Stock *

• Part 14: Relationship Between Bond Prices and Interest Rates *

• Part 15: Introduction to Bonds *

• Part 16: Introduction to Compound Interest *

• Part 17: The Rule of 72 for Compound Interest *

• Part 18: Annual Percentage Rate (APR) and Effective APR *

• Part 19: What is Bankruptcy?

• Part 20: Introduction to Mortgage Loans

Watch them this weekend. You'll almost certainly learn something.

* denotes videos applicable worldwide.

[u/poesalterego]

Thank you- from the financially illiterate.

[u/[deleted] → u/[deleted]]

Most schools have some sort of workshop that is suppose to teach them about taxes and budgeting. I went to a very well off high school and the workshop we had was complete bullshit. You were served a hand of cards and you were supposed to play the hand through budgeting and meeting financial goals. I'm not a dumb guy and I ended up with about $7000 in the hole only to have my instructor brush it off, never to be spoken of again.

Luckily my mom was a tax lawyer so I don't think I've ever been financially illiterate lol