Monday, January 17, 2011

Let's Be Clear

Most concepts you'll find in personal finance (PF) are not difficult; it's usually the language associated with them that makes me cringe. When I first started doing research on PF topics, I only knew a few basic economic terms that I learned in school. Besides a few weeks in the 8th grade and half of a semester of honors economics in high school, like most Americans, I was never formally educated in the ins and outs of PF.

So reading detailed articles, tax forms, bank account agreements, etc. always turn out to be very daunting tasks. It's often difficult to figure out the point a document is trying to make through those big, complex words. If you've ever tried to read a credit card agreement, you'll probably know what I mean. I know, I know. The new consumer protection agency supposedly will promote clarity by simplifying these documents, but changes won't be immediate.

In the mean time, I've added a "Glossary" page to my blog. If I feel the meaning of a certain word that appears in my post is not immediately clear, I'll link it to the definition on that page. I hope this way, my blog will be more reader friendly, especially for those who are just starting to learn about PF. I don't want complicated terms to turn anyone away from financial literacy! Please note that this is not a complete list of financial terms. I'll add to it as we encounter more terms in my posts.


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