Find Money Treasures Right at Your Fingertips
By: Jim Katzaman - Get Out Of Debt
Tags: Money, Finance, Twitter, Retirement, Social Media

Financial sources and the quality of advice they offer range far and wide. That can be a daunting prospect for those trying to do it themselves to secure their futures.

Wendy Rafferty might fit this profile. A registered nurse, medic and veteran, she draws information from a host of personal finance apps, bloggers and YouTubers to help improve her financial prospects.

“The more information you have, the more empowered you are in building your security,” she said. “I follow a lot of great financial bloggers along with American Consumer Credit Counseling.”

Rafferty talked with financial experts from consumer credit reporting company Experian and Paulina Likos, an investing reporter for U.S. News and World Report. Likos breaks down investing basics for do-it-yourself investors navigating the stock market.

“You can find great personal finance and investing articles on the U.S. News website,” Likos said. “We offer consumer advice to those who seek to have better money management skills.

“The best financial advice I got was to open a 401(k),” she said. “By allocating part of your bi-weekly paycheck to this retirement account — where in many cases your employer matches your contributions — you’re building wealth and securing your financial future.”

Rafferty has drawn key insights from the assorted money tips.

“Save and spend cash,” she said. “I’ve gotten lots of credit report tips and advice such as the better your credit, the more you save.”

Her favorite Twitter accounts that share helpful money and credit tips include Experian, American Consumer Credit Counseling and Credit Karma.

Tactics for Growth

“Shameless plug,” Likos said. “I tweet every day on how you can improve your personal finances and investing tactics to grow your money.”

She also has weekly articles on her U.S. News website.

“There are many personal finance apps on the market,” Likos said. “Acorns, for example, an app that invests round-ups from purchases, has 4.5 million users.”

More traditional institutions match Rafferty’s comfort level.

“I love my bank,” she said. “It’s a credit union that really cares about its members. I’m a paper-and-pencil ‘accountant.’ I like to write it and have my own visual cues.

“I think I am old school,” Rafferty said. “My dad was an accountant, and I still do things in a ledger. I have stuck with spreadsheets. That just works for me. I like to get my thoughts into it.”

Her favorite personal finance blogs are Experian and Wise Bread. Not satisfied there, she reaches out to find other internet gems.

“There are a ton of good credit gurus on TikTok,” she said. “Also search #credit. There are great credit report tips on increasing your score when you search #CreditReport.”

The Experian blog recommends Jeff Rose on YouTube. His Wealth Hacker channel has videos dealing with personal finance topics.

“Millennial Money Podcast hosted by Shannah Game talks about how to build a better relationship with your money,” Likos said. “Each podcast episode offers a wealth of advice to make a difference in your personal finances.”

Covering Emergencies

These sites have valuable takeaways for those doing their best to learn how money works. One of the lessons is the need to set aside funds for the unexpected events.

“Thank goodness for the emergency fund,” Rafferty said. “I learned a lot of great credit tips for improving our score, basics of investing and emergency budgeting.”

That is just one step toward putting money goals in proper rank order.

“Before you start investing, make sure to pay off any debt and build up that emergency fund,” Likos said. “This way you have financial security and can invest with confidence.”

Rafferty said she has received lots of helpful information from Twitter chats.

“Hearing from experts in the field is really the best way to get financial guidance,” she said, recalling this memorable advice:

“Someone wrote, ‘If the gift you receive is worth $30, and someone giving it makes $10 an hour, that person has worked three hours of their life for you.’ Every gift is a gift.”

About the Author

Jim Katzaman is a manager at Largo Financial Services and worked in public affairs for the Air Force and federal government. You can connect with him on Twitter, Facebook and LinkedIn.

Disclaimer

This article is intended for informational purposes only, and should not be considered financial advice. You should consult a financial professional before making any major financial decisions.