Review of a finance course

I recently followed ElementumMoney on Twitter. They offered a free 5 day intro to learning about money and getting a little more serious about certain aspects of your finances.

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I found this right up my street. It was fairly basic information, but we all need to start  somewhere. The information is provided by Aparna a financial planner in India who has kindly put in effort to help people like me.

The overview of the course was:

  • Day 1: Basics of managing your money 
  • Day 2: Basics of Insurance
  • Day 3: Basics of Investments 
  • Day 4: Basics of Loans 
  • Day 5: Basics of taxation 

Day 1 focused on income vs. expenditure. It was a 101 into what other options you had to increasing your income and decreasing your spending. This touched on making your money work for you.

Day 2 went into the murky world of Insurance. To buy or not to buy? This section was good at highlighting when insurance was really needed. This focused on life, health, car and travel insurance. I realised the former are most important when you have loved ones depending on you. The latter were good reminders as to why these are needed but not at all times

Day 3: Investing! This is a new avenue for me. I have never invested before and recently joined Sharsies as part of a mutual fund investment. This broke down important information on investments ranging from bonds to stocks. It also gave me a springboard to reviewing my current investments

Day 4 reviewed loans. Loans are important for being able to afford those high cost purchases in your life such as vehicles or a house. This section had a link to a good Home loan guide too and pitfalls to avoid

Day 5 discussed taxation. This reviewed the importance of filing taxes, reviewing tax exemptions and what items can be reimubursed.

 

Overall, this was a helpful news letter which went through the basics of 5 key pillars of financial areas. You can follow Aparna at ElementumMoney

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