Personal Finance Resources

Table of Contents

1 Advice

2 Research

3 YouTube Channels

4 YouTube Playlists

5 Videos

6 Books

These books are frequently available as audiobooks on YouTube & the authors may have channels, as well as physical or digital forms on Amazon or at your local library

Title Author ISBN
Rich Dad Poor Dad Robert Kiyosaki 978-1612680170
The Richest Man in Babylon George S. Clason 978-1508524359
The Total Money Makeover Dave Ramsey 978-1595555274
Everyday Millionaires Chris Hogan 978-0977489527
Think and Grow Rich Napoleon Hill 978-1585424337

7 Financial Institutions

7.1 Checking

7.2 Saving

  • Betterment: Sweeps money into FDIC insured accounts at banks, providing high interest, sweeps in unneeded cash. Also gives advice & graphs
  • Wealthfront: Sweeps money into FDIC insured accounts at banks, providing high interest. Also gives advice & net worth tracking
  • Redneck Bank: Highly competitive FDIC insured money market fund
  • Fidelity Government Money Market Fund: Tracks risk-free rate of return by investing in short-term debt securities with low credit risk. When interest rates rise, those higher rates typically pass through to money market funds quickly, but not FDIC insured: SIPC (Securities Investor Protection Corporation) insured against brokerage (Fidelity) bankruptcy, not asset depreciation

7.3 Investing

7.4 Insurance

  • Zander Insurance: Selects policies between several insurance companies
  • USAA: Competitive insurance

7.5 Loans

8 Financial Charting

9 Credit

"Gold is money. Everything else is credit." - J. P. Morgan

Credit can multiply your spending, which can allow you to buy assets sooner but always creates a liability for yourself. If you buy a poor asset or just increase your expenses, debt you incurred will still be a liability to drain your wealth from you.

Credit is based off your main credit report, which details all your open accounts & recent blemishes. If your credit report looks good, you'll likely have a good credit score as well.

It's free & harmless to check your credit report & your credit score. You are encouraged to & should do so periodically to measure your progress & correct errors. You can request your credit report from each of the three major credit agencies (Equifax, Experian, Transunion) through annualcreditreport.com or each agency's resources. Credit card issuers will often give you a free credit score every few months, since they check themselves anyway!

See the myFico links in 2 for more information & sources

See Credit Wise from Capital One, Nerdwallet, or some YouTube Channels for credit card advice

9.1 Credit tracking

You can use these sites to estimate your credit score in order to gauge when to apply for a better credit card while you're beginning to build credit. However, these sites usually show a Vantage Score rather than a FICO score, which weight categories differently, and most lenders use FICO scores. Therefore, these free scores are only estimates. After building good credit, the main factor in improving credit is time, but these sites also track and graph your credit score over time.

9.2 Credit cards

9.2.1 Issuer limits

Some credit card companies won't issue credit cards to you if you have too many from other issuers or in too short a time frame

  1. J. P. Morgan Chase

    Chase will only issue credit cards to people with less than 5 new credit cards in the past 24 months. Therefore, others recommend getting enough credit to gain Chase's trust and then apply for your desired Chase cards before applying for other credit cards.

  2. Premium companies

    Companies such as Barclays supposedly won't issue credit cards to you if you have too many total credit cards

  3. American Express

    American Express supposedly limits the total number of cards you can have from them, but this may have changed

9.2.2 High cash back, no annual fee

9.2.4 Secured

Secured credit cards require a security deposit in order to open the account, usually equal to the credit limit you get. However, this makes it extremely likely that you'll get approved for any that you apply for.

Nerdwallet has a list of the best secured credit cards

Author: Evan James McCarter

Created: 2019-11-14 Thu 18:51

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