When I started my personal finance journey, I spent a lot of time looking for a step-by-step guide to help take control of my finances. I found blogs and Instagram pages dedicated to specific niches of personal finance (credit repair, investing, paycheck budgeting, taxes, etc.), but I could never find all the steps in one place.
Fast forward to January 2022, I came across a TikTok video of a man talking about resources for people who don’t know what to do with their money.
The Khan Academy: Personal Finance Course
He recommended The Khan Academy’s Personal Finance Courses. The course covers Savings and Budgeting, Interest and debt, Investments and retirement, Income and benefits, Housing, Car expenses, Taxes, and Paying for college. Each Unit is less than 20 minutes and easy to understand.
This Khan Academy Unit helped me understand Retirement Accounts.
F.I.R.E. Flow Chart
He also recommended Happy Asian Panda’s F.I.R.E. Flow Chart. The chart is for anyone who is trying to figure out how to become Financially Independent or Retire Early. This flow chart is more tailored and detailed than any other resource I have found on the net. I’m currently using it as a guide on my personal finance journey.
Because Budgeting Backwards is a platform for budgeting beginners, I will provide specific resources for each individual square in sections 0 and 1.
Section 0 is dedicated to Budgeting and Essentials which covers meeting basic needs (rent, food, utilities, healthcare, debt).
Section 1 is dedicated to Employer Match and Emergency Fund which covers tracking expenses, having an emergency fund (I call it a STASH) and contributing to you employer provided retirement fund.
I’m not a finance girl. I have never been good with money. Everyday I dedicate at least 15 minutes of my day to learning something about money. With the help of TikTok, Youtube and Instagram, I have been able to navigate some of the beginning steps of my personal finance journey.
So far, The Khan Academy courses and The F.I.R.E. Flow Chart have provided me with a simple blueprint for financial independence.
