Got a Question about Personal Finance or the Personal Finance Project

E-mail bmc.personalfinance@gmail.com

Here is a list of some of our FAQs

Section 1- Is this Course Right for me?

Q.  I have no background in anything that has anything to do with money.  I don’t know about anything.  Is this course the right thing for me?

A.   Yes.  The upcoming Personal Finance Course is designed specifically for people with “0″ knowledge of personal finance issues.   We have tailored it to address the needs of people who know absolutely nothing about money, so feel free to sign up for it.  In addition,  try to attend some of our upcoming Personal Finance/Wellness Lectures.  They will help ease you into learning the basics of money management.

Q.  I am an economics major, so I have a background of basic monetary terms.  Would this course be below my level?

A.  No.  There is a big difference between Personal Finance and Economics.  Although you may have learned about some basic monetary terms in your economics classes, perosnal finance covers a broader range of topics that specifically deal with YOUR personal financial situation.  Even Ph.Ds in economics and experts in business have trouble with money management.   Assuming that because you study money means you know how to manage it is a severe mistake.   Signing up for the upcoming course and attending Personal Finance Lectures will give you the right kind of grounding you need to learn how to manage your money.

Q.  My parents manage all my money.  I’m really not good with numbers and if I get involved in my financial situation, I  fear I’ll just mess things up.   After college I plan to continue working with my parents and have my boyfriend help me.  If I’m so bad at managing my own money, this course won’t really help me right?

A.  Wrong.  Financial Independence is the most important thing you will learn in the upcoming course.   It’s great to have people like your parents and your boyfriend helping you, but it’s also important to learn how to do some things on your own.   One of the biggest problems Personal Finance Advisors see is people who from divorce or widowhood have to come see them because they are completely ignorant about their financial situation.  Personal Finance isn’t easy to learn, but the sooner you start, the more practice you’ll get, and the more confident you’ll feel to make your own financial decisions.  And don’t worry about mistakes.  Cliche as it may sound, it’s a crucial part of the learning process.

 Q.  I live off campus, work part-time, and am completely financially independent.  I learned the ropes along time ago.   Should I consider taking this course, when I’ve learned so much on my own through experience.

A.  One of the biggest problems in America is that Personal Finance is not formally taught.   As a result, people often learn the ropes on their own and as a result are more likely to make mistakes.   While you may have acquired a lot of information, there is still a lot more you can learn, and a lot more than can be learned through a formal setting.  That’s why it is highly advisable that you at least attend a lecture or sign up for a class, because it will help provide you with the formal training that will eliminate many mistakes in the futue.

 Q.  I’m planning to relocate to the Sahara Desert after college to do research.  I don’t think I will really have a need for money in the near future.  I won’t have any use for this course, right?

A.  Wrong.  Regardless of wherever you go, your financial situation always matters.   Regardless of whether you want to be an investment banker in New York or if you plan to be an oceanographer working in Antarctica, we all operate under the same personal financial principles.  Often times, it’s the people that don’t care about money management, that need financial advise the most.   Whatever your plans, securing a steady savings and a solid financial plan will put you in a good position wherever you plan to go.