Broker Check

The Financial Awareness Day Challenge - Part 2

| August 10, 2022

Here we are, week two of our financial awareness challenge, and I’m here with some resources that can help you create more financial awareness in your life. I’m a pretty visual guy and a native New Yorker, so I tend to gravitate toward anything that can make me smarter and quickly satisfy a curiosity in pictures. With that as a theme, here are some of my favorite resources for creating financial literacy and awareness.

Napkin Finance is a great little book by Tina Hay, easy to read and even easier to understand, that covers most personal financial topics you can think of in less than a minute. From economics to college savings to taxes and life events, each item is explained in simple and direct language with a drawing that drives the point home easily. And it’s a great book to get your children and grandchildren acquainted with financial concepts too. 

One of my favorites is the explanation of asset allocation - you know I’m a big proponent of that. And another is the explanation of risk versus reward. You can also see all the explanations by category on the website. So next time someone says, “I learned that my risk aversion is costing me ROI,” at a cocktail party, you can confidently know what they are trying to sound smart by saying and come back with a response that actually is smart and doesn’t just sound that way.

As far as books go, this isn’t a visual one at all, but it is an eye-opener; The Millionaire Next Door by Thomas J.Stanley is a must-read.  The book is a profile of America's wealthy citizens and the similarities they share. Spoiler alert here, most of the people you’d expect to read about didn’t make it into the book. Stanley distilled the common habits and traits of the American millionaires he surveyed and found seven habits that they have in common, including living below their means and rejecting traditional consumerism. You’d be surprised how simple these habits actually are, but what may be even more surprising is how wealth and the term millionaire are defined. Be prepared to have your perspectives challenged!

Happy discovering; keep sending me your tips and the resources you use to stay financially aware, and I’ll be back next week with some simple ways to get your financial act together!

Until next time…

One last thought, I believe an educated investor is an empowered investor. If you like what you’ve read and think your friends and family can benefit as well, please share.


The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

All investing involves risk including loss of principal. No strategy assures success or protects against loss. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.

Dollar cost averaging involves continuous investment in securities regardless of fluctuation in price levels of such securities. An investor should consider their ability to continue purchasing through fluctuating price levels. Such a plan does not assure a profit and does not protect against loss in declining markets.