Firstly, I would like to thank you for following along with the first week of my new finance blog! I have been blown away by the take-up so far. The positive comments I have received is what motivates me to continue to provide valuable content into the future for you all.
Each Friday, instead of a normal blog post, I am going to do a series of posts called “Whitey’s Weekly Wrap-ups”. In the Wrap-ups, I am going to summarise what was discussed throughout the week as well as provide a Quote, Book, Article and Video of the Week. It is important to revisit what we have discussed so that it reinforces the key principles as we move onto new topics next week.
Summary Of The Week:
- BLOG 001 (My Why) – Gives you context about why I am doing the financial blog. I wanted to open up and relate my story with a lot of feelings us Millennials have gone through and give insight into my thoughts and my ultimate purpose.
- BLOG 002 (First Things First..You Are The Captain Of Your Investment Ship) – Inspires you to take action and be responsible for your money and personal finances. I want to motivate you to back yourself and to change your future.
- BLOG 003 (The Eighth Wonder Of The World: Compound Interest) – Explains what compound interest is and provides an example of the powerful effect compounding has on investments. Takeaway: the amount of capital (money to invest with) you start with is not nearly as important as getting started early.
- BLOG 004 (Rule of 72: How Long Does it Take You To Double Your Money?)- Introduces a simple shortcut that can quickly estimate how long an initial investment will take to double in value without using an fancy maths. The “Rule Of 72” is a must have tool when you are analysing any investment.
Quote Of The Week:
“If you understand compound interest, you basically understand the universe” – Robert Breault
Book Of The Week:
“CRUSH IT” – Gary Vaynerchuk
Crush It is the blueprint you need to turn your passion into your profession and will give you the tools to turn yourself into a brand, leverage social media, produce great content and reap the financial benefits of it. I have read this book over 5 times throughout my journey of creating this blog/related channels and has helped me immensely.
Short, Educational, Motivational: 8/10
Article Of The Week:
Most people won’t make much profit after tax and then, on top, they’ll have cleaning costs, the costs of making good any wear and tear on their property and any damage. In some areas where the value of property has gone up by a lot over the past couple of years, when they come to sell their home, many are making a loss as a result of Capital Gains Tax.
Video Of The Week: