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    The Ten Most Important Finance Fundamentals for Everyone
    The Ten Most Important Finance Fundamentals for Everyone
    The Ten Most Important Finance Fundamentals for Everyone
    Ebook59 pages34 minutes

    The Ten Most Important Finance Fundamentals for Everyone

    By Matt Lockwood

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    About this ebook

    If you don’t know much about finance, this book gives you important fundamentals – quickly. If you do know something about finance, this book will refresh and challenge your current knowledge.

    This book is written in a different way to other books about money. Detail is not included.

    Why? It’s the fundamentals that matter the most.

    After a few years in business, many successful people when asked what they got out of their university education will say “the basics” or “the fundamentals”.

    Often the detail is forgotten as real world lessons are combined with theoretical knowledge to produce more specialised skill sets.

    But you do need that knowledge base.

    LanguageEnglish
    PublisherMatt Lockwood
    Release dateJan 6, 2012
    ISBN9780987261809
    The Ten Most Important Finance Fundamentals for Everyone
    Author

    Matt Lockwood

    Matt Lockwood has a diverse working and travel background which started from a post high school ‘gap year’ which according to Matt “lasted for seven years”! Matt’s global travel and life experience has been fundamental to his belief that today, more than ever, it is critical to understand money. Academically Matt is a Dean's honour list, and financial planning award winning graduate of the Applied Finance Program at the University of South Australia (UniSA). He also has diplomas in Financial Services (Financial Planning) and Project Management (Australian Institute of Management). Matt’s currently responsible for delivering major projects, business analysis and research within the institutional world of Australian superannuation administration, where he has worked for the past six years. He also has experience in banking. Matt has undertaken sessional classroom tutorials in the following subjects for UniSA: Finance and Investment, Financial Management, and Financial Planning. Matt has given industry presentations and lectures to students bringing his unique “real world” antics to the student experience. Matt has also successfully provided intensive tutoring for financial services staff obtaining their Diploma of Financial Services. Matt currently pursues his passion for financial writing and presenting in his spare time with the aim of enhancing financial literacy levels amongst the community wherever he goes!

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      Book preview

      The Ten Most Important Finance Fundamentals for Everyone - Matt Lockwood

      Introduction

      Today, more than ever, it is critical for you to be able to understand money.

      If you don’t know much about finance, this book gives you important fundamentals – quickly. If you do know something about finance, this book will refresh and challenge your current knowledge.

      The book is written in a different way to other books about money. Detail is not included.

      Why? It’s the fundamentals that matter the most.

      After a few years in business, many successful people when asked what they got out of their university education will say the basics or the fundamentals.

      Often the detail is forgotten as real world lessons are combined with theoretical knowledge to produce more specialised skill sets.

      But you do need that knowledge base.

      These ten points started as a list of what I considered were the ten most useful personal finance concepts from my own original tertiary knowledge base – the Applied Finance degree at South Australia’s largest university, UniSA.

      I then applied, refined and simplified this list based on my years of experience working in financial services, my own investing, further training, and being paid to teach others about financial concepts. The end result is what you are about to read.

      You might not have the luxury of the time, money or circumstances to invest in years studying then working with money as I have. Then again, why spend years studying, when you have access to this ready-made knowledge base?

      It’s taken years to refine this content into ten simple points. You can pick it all up in an hour or two!

      1. THE TWO MOST POWERFUL WORDS IN THE FINANCIAL WORLD

      If this heading was compound interest would you read on? If you are like most people that I talk to about this topic, you would nod your head and quickly turn the page.

      STOP. Why then, did Albert Einstein say that compound interest is the greatest mathematical discovery of all time (1)

      STOP. Read the last sentence again. Please.

      Think about it. Think about who Einstein was. Before you say oh yeah, I know what this is – it’s just earning interest on your interest please ask yourself whether you deeply understand compound interest the same way that Einstein

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