Other Internet-based Resources
Choosing who we listen to is very important when learning about Personal Finance, as there is a lot of incorrect and misleading information available. I would encourage you to ask two questions when evaluating sources of personal finance information.
First, what is their affiliation? Is it a government agency, a non-profit institution, or a private-sector company that is providing the information? That will give you insight on what they are trying to accomplish. Regarding this website, it was established as the result of a class taught at Brigham Young University and the need to share this information with spouses and other students who were unable to take this class.
Second, what are the motivations of the establishing institution? Why are they preparing this information? If it is with a private company, are they trying to sell you a product and if so, what is that product? Generally, I try to stay away from sources with an ulterior motive, even though much of the information may be good. Regarding this website, I was encouraged by various faculty and staff to make this information available via the internet in an effort to help others both inside and outside Brigham Young University understand personal finance from “another” perspective, an eternal perspective. I have nothing to sell, I don’t recommend any products (except perhaps personal finance software such as Quicken or Money to help you be more efficient in your finances), and I don’t receive any remuneration for this website (in fact, the maintenance comes out of my personal school budget).
Sources that I have found helpful in learning about personal finance include:
- U.S. Financial Literacy and Education
- Federal Depositors Insurance Corporation (FDIC)
- Federal Reserve Board
- Parenting: Family Matters – Family Finance
- MSN Money Central
- The Jump$tart Coalition for Personal Financial Literacy
- Consumer Reports
The challenge with these different websites is that while they have good information, they may be missing some important aspects to help us become more financially self-reliant, particularly as you work as a family.