What’s the best financial magazine for someone who knows nothing about investing and finances?
March 9th, 2010 | 
Author: I’m in my last year of grad school and living off financial aid. I barely have a savings and am looking to start investing my money wisely. I need a good financial magazine and/or book that can lead me in the right direction. Thanks!
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Use the internet ..for the most info. If you chose the right profile manager you won’t need to read all those magazines.
yeah, your better off with a book.
“young broke and fabulous”-Suze Orman
“The girls guide to absolutely everything”
http://www.amazon.com/Girls-Guide-Absolutely-Everything/dp/0761135790
( I HIGHLY recommend this book, I give it as a gift to every young woman I know who gradutes from college and is trying to strick it on thier own as an independent adult. BUT CHECK OUT THE FINANCE SECTION).
Its not a magazine but I would suggest that you start reading the Wall Street Journal. It comes out everyday and there are many good articles.
You can mostly likely read most of them off their website.
http://www.wsj.com (it is a paid subsription)
I looked at some financial calculators to get me started. http://www.dinkytown.net has all kinds of calculators. I saw what compound interest can do when projected out 30-40 years and I also saw how much interest payments I could save by making accelerated payments on my mortgage toward principal. I am not over half paid in 5 years, I have saved myself 10′s of thousands of dollars just by adding to my payment every month. I couldn’t tell you jack about the stock market, but I think when you start playing around with those calculators you will see how much wealth you can create for yourself just by not owing long term debts.
Start with “Rich Dad, Poor Dad” and there ain’t no way I can spell his name, but it is commonly found in the finance section of bookstores and libraries.
If you want to learn about the stock market, I recommend Fishers: “Common Stocks, Uncommon Profits” and Benjamin Grahams: “Securities”
Try Kiplinger’s Personal Finance Magazine. Stories are easy to understand, there are alot of charts which will seem overwhelming at first, but enough explanation for even the most basic investor. For books, I got hooked on Dave Ramsey and his plan. I have never saved so much or invested since starting his program. Check out his site at DaveRamsey.com
You can check out Money magazine. My dad who is into investing says that Jim Kramer offers very solid advice. He has his own tv show that is pretty accessible to non-finance folks and has written books. You can find his books at amazon or at the local library.
Try young money magazine. It is offered at many colleges, so you may have immediate access to it. It is also found online at http://www.youngmoney.com
They have a Fantasy Stock Market Game that you may want to join – that way you can practice with fake money before you begin to invest with yours.
You mentioned that you barely have a savings. Check out Bank Rate @ http://www.bankrate.com to get current rates. If your money is in one of the big banks (B of A, Suntrust, etc) you are not making the interest you could with an internet bank (like I.N.G or Emigrant Direct). They are FDIC insured just like the local banks.
Before investing, it is suggested that you have an emergency fund built up (atleast 3-6 months of expenses). You can build up your savings while you learn about investing.
I agree with one of the other responders about the book, Rich Dad Poor Dad. It is by Robert Kiyosaki. It is an easy read, and can be found at most libraries (put that money in your savings account instead!).
Happy investing