Here's part 8 of the series from top personal finance bloggers offering their single-best piece of advice. Today, we'll hear from Jason at The Alpha Guy:
"The best advice I can give is this: never stop learning. This may seem easy, but so many people work 9 to 5 jobs, watch tv for a few hours, and then sleep. Repeat cycle. I firmly believe that if you have the dedication and focus to improve your knowledge, you will be greatly better off.
Acquiring financial knowledge may seem like a huge task (and it can be) that takes patience and time, but think of this knowledge as another asset. We're all trying to increase our assets and decrease our liabilities, and our financial knowledge is one of the most important assets we have. My suggestion is to take it slow.
Concentrate on a financial area that concerns you the most. For those saving and investing in mutual funds, learn more about mutual fund fees and the case for index investing. For those who want to select stocks themselves start with the basics: learn more about fundamental analysis and what drives the price of the stock. At times it will be frustrating because of the vast amount of information, but every journey is completed by taking steps. So be patient and focus and take those first few steps towards increasing your knowledge asset. Then, keep on walking."
If you spend just five minutes a day reading about finances, in a year, you'll have a good, solid base of knowledge. In five years, you'll be an "expert". And in ten years, you'll be so busy counting your money, you won't have time to read. :-)
Click here to read part 9.
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