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Anyone know of a website with good information to help the indigent manage their money?
11-19-2012, 02:42 AM
Post: #1
Anyone know of a website with good information to help the indigent manage their money?
I'm working with a few people who are poor -- they live in shelters, have minimum wage jobs, and are trying to rebuild their lives. They have no assets and so little income that face a tough road ahead, and some of them are older. Also, they have at best limited computer skills and very limited access to computers. Any websites or tips about shopping cheaply, saving money, paying into social security, and so on would be helpful.

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11-19-2012, 02:50 AM
Post: #2
 
It depends on what kind of help you are looking for...

If you simply want to know how to save some extra money, just contact your bank and they will help you determine how to invest your money between a money market account, savings account and various CDs (certificate of deposits). The answer really depends on your personal goals....

If you have no idea about money and you don't want to figure it out yourself, you should get in touch with a Financial Advisor, this is what they do for a living and you simply pay them a small fee for their services. You probably have an Edward Jones rep nearby and they tend to do a great job. If you find a good advisor, their fees are very worth it and you'll end up on top in the long-run. The best way to find a good financial advisor is to ask for referrals from friends and family. Again, your bank might also have a division and can provide you with a free consultation with one of their advisors. Look around, take your time, do some interviews and you'll soon find someone you like.

If you would like to figure it out on your own, I've found this website to be the best for do-it-youselfers:

http://www.fool.com/

This is where I started to learn about investing in stocks/bonds/mutual funds/retirement, etc. There is also a great online community there who is happy to help with questions like this...

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