A different way to learn about money...

Anyone who knows me is aware of my philosophy that I am a lifelong student (And that I love to cook...). I always keep an open mind, and seek to further my knowledge in all things. Fortunately, a byproduct of the many facets of education I have received has given me opportunities to be a teacher. In addition to educating people about their finances, I have taught classes on the operation of airplanes, operating nuclear reactors and nuclear chemistry, and many math related disciplines.

One of the fastest ways to gain knowledge about any particular topic is to find a totally different topic that most people understand and correlate it to our desired knowledge. At Smart Money Recipes, we use cooking as our analogy.

 Cooking, you see, is relatively simple but can be made very complex. Many of the key terms and principles of cooking  can be related to many of the key terms and principles of finance.  Let me give you a few examples:

Recipes compared to financial plans - a  recipe is a set of instructions on how to prepare or make something. A financial plan is a set of instructions on how to prepare for your financial future or make  certain goals a reality. I think you see the similarities.

Ingredients compared to components in a financial plan -  ingredients are  individual substances which are combined to create a specific mixture within a recipe process. Different investment vehicles, whether they be stocks, bonds,  Mutual funds, real estate, or other components are combined to create a specific portfolio within a financial plan.

Nutritional value compared to suitability-   nutritional value identifies those foods which are wholesome and provide the most favorable balance of essential nutrients  based on a person's biological needs. Correct financial stability identifies those investment vehicles which provide the most favorable  potential outcome based on investors needs, risk tolerance, age and other critical factors.

Recipe cost versus financial cost-   recipe costs are evaluated to determine if it is economical to prepare the recipe with ingredients of specified cost. This evaluation may show that the benefits from the recipe are not warranted by extreme cost. Financial cost, while not being a singular determinant factor, is evaluated to determine whether financial recommendations are economical for the benefit of the consumer.

As you can see, it's fairly easy to see similarities between  recipe cookbooks and financial cookbooks. Our goal is very simple - to create an educational platform is easy to understand and allow you to further your knowledge about your personal finances. We look forward to making the journey with you.