Becoming Financially Literate - 1

How does one go about learning about managing ones investments? That's the big question that I've been thinking of for some time now.

I look around at the people I know; my family, relatives, friends, colleagues - and I see the struggle they go through to manage their investments better. But there's hardly any good source for them to acquire the knowledge or the skills to be a better investor.

That doesn't mean there aren't choices.

The daily newspaper that they read has a financial section. But is it for the new investor? Most magazines have some bits about finance - mostly "Top 5 Investment Ideas for Singles" or something like that which is too simplistic to consider as educational. But it's still better than nothing. There are financial magazines - Outlook Money and the like - but that's a cost and it requires a dedicated mindset which most people don't have. There're dedicated newspapers like Mint - it's cheaper at Rs. 2 a copy and pretty easy to read; but again, I don't think it's for the novice investor.

I have come across comics published by the RBI to educate children about investing - which can be useful for adults too. But then they are just a couple. The RBI needs to publish at least 50 of these to make it really work - and then to make sure they reach the audience. Right now I don't know how they get distributed; I happened to come across them during an exhibition. I have not seen them in a book stall or on the streets.

Many people are recommending that managing money and investments should be taught at the school level. Right. But or those who have completed their schooling - what about them. What do they read....

Does any of you have any suggestions? Have you come across any publication or web site which explains money management / investments in a simple easy-to-understand manner. Please let me know. More about this in the next post.