Numerous studies have shown that a higher vocabulary is highly correlated with successful people. Likewise, learning how to read and understand the financial section of a newspaper is essential for anyone who has a goal to become financially independent and successful. A bigger financial vocabulary helps one to be able to improve his or her comprehension of financial news and financial articles.
Benjamin Franklin did not finish college. Neither did he have any formal schooling. However, he learned to study by himself. He was the first person to invent the concept of a public library system. Neighbors can contribute books and people can check them out and learn by themselves. After working 12 hours a day in his printing press, Benjamin Franklin would spend an hour each night studying the dictionary to improve his vocabulary. He would read the dictionary with a candle light until his eyes get tired.
Fortunately, with the advent of the internet, it is easy to find the definition of any financial term. In the past, people had to buy a dictionary or a book from a bookstore. This is an ancient way of learning in these internet times. With the internet and a click of a button, one can type any word on the web and get the definition and concepts within seconds.
Dailystocks.com’s Finance and Investing Glossary is one of the most complete finance glossaries on the web, including a real estate glossary, a mortgage glossary and insurance glossary. It contains over 5,800 words that are most often used in financial books, magazines and newspapers. It has real estate glossary, financial glossary, mortgage glossary, corporate finance glossary, insurance glossary , investing glossary and many more.
An example of a corporate financial term is BREAK-EVEN ANALYSIS. The Real Estate Glossary and Mortgage Glossary would have words such as BALLOON MORTGAGE or FORECLOSURE. Daytrading Glossary concepts include ADVANCE-DECLINE LINE. Stock market terms such as BULL MARKET are explained. Bond market topics like BARBELL are covered. VARIABLE LIFE INSURANCE is an example of a word found in the insurance glossary.
While finance terms are not exactly as exciting as celebrity news items of Paris Hilton or Grey’s Anatomy, knowledge of some of these elementary terms can actually offer the benefit of improving your wallet. Developing a habit of spending 15 minutes a day reading the financial news pages will motivate you to save and become financially independent. After a year of improving your financial vocabulary, you will begin to understand how the world’s economy works. With knowledge, you build your self-confidence. Your career takes off as you get more confident when engaging in financial conversations. And that nice and shiny Louis-Vitton bag hanging by the window will be affordable to you by that time.
You may not become Benjamin Franklin someday, but improving your financial vocabulary will only prove beneficial to your financial health.
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