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Financial Literacy and Personal Finance

Resources highlighting Ingram Library resources related to gaining basic information literacy. This guide was prepared by the students of LIBR2100 during Spring 2021.

Recommended Resources

Under the book tab  in the menu to the left you will find a few sample books on investing that are in the Ingram Library collection.  They address topics of investing in general.    By contrast, this page highlights other resources of note related to personal investing.  Focus falls on risk tolerance and investing platforms.  

Risk Tolerance

REGARDING PERSONAL RISK

One can lose money as well as gain money through investing.  Some investments are less risky (but often have lower returns) than others.  These resources help individual investors understand when in one's life it is OK to take a little more risk than at other stages of life; how to assess how one feels in general about investing in riskier rather than more secure investments; and what sort of investments are more of a gamble than others as markets rise and fall.   

Risk Assessment Tool (self quiz)

This is a quiz that was developed, in part, by a professor at one of our sister Regent's schools (Dr. Grable at the Univ of GA). Access to the Investment Risk Tolerance Assessment is provided through the University of Missouri.  If you take the quiz, at the end you will see your score. Please do read through all of the text on the Univ of Missouri's page describing the research project which this quiz is part. 

 

 

IMAGE CREDT: License: CC0 Public Domain

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Investing Platforms

Just as Real Estate Agents are intermediaries used to buy and sell houses, so too Brokers help investors buy, sell, and track stock purchases and sales.  The tracking is important because one has to know how much money one made or lost when selling a stock that one has had in one's portfolio for one's taxes.  

PLATFORMS:  Brokers (and firms that provide investments) often have online platforms that can be used to buy/sell stock and other investments like bonds or mutual funds from anywhere you can connect to the internet (be mindful of secure connections and implement multi factor authentication when offered).  It is important to research platforms and investment firms carefully.    Generally one sets up an account, deposits a bit of money, then then uses the online platform to begin trading (buying and selling).  Good platforms may also have resource centers that provide information about the health, past performance, and potential of individual stocks so you can do a bit of research before you click the button to buy or sell.  

FEES:  Brokerage firms (platforms) don't offer their services for free. There may be fees somewhere related to the trade, or they may not charge for the trade, but may try to upsell you on products where they will make a commission.  Or they may use some other strategy to make money from you.  The more one pays in fees, the less money one will make in the long run.  So, do your research carefully!