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Are you worried about your financial situation? You’re not the only one. Six in 10 Americans don’t have $500 in saving accounts, which means they would have difficulties paying their bills if they faced an unexpected expense.
People use alternative sources of cash to pay bills and food. If you live in Riverside, CA, title loans are the solution across the street for your emergency. Yet, such a decision can cost you more in the long run, due to interest rates and loan fees.
Besides low income, recession, and credit card debts, not budgeting and overspending are two major elements that influence your financial stability. You need to learn how to organize your finances to be able to save money for retirement and emergencies.
Finance and investment education can help you build a better financial future, one in which you don’t have to worry about unexpected bills and repairing credit. Don’t worry, you don’t need a Ph.D. to know how to handle your money wisely. There are lots of resources available online to help you, from applying for loans, to using ETF Apps. Here are some of the most effective resources you can use to improve your financial education free!
Online Courses
Don’t have a clue about what’s happening with your retirement money? Or would you like to open a savings account but don’t know where to start from? An online course can show you the basics of financial education.
The University of California – Irvine holds an interesting online course on personal financial planning. You can learn how to keep track of your expenses and how to save money by planning family spending. You’ll also find interesting information about student loans, insurance, estate planning, and wealth management.
The Khan Academy has put together a series of practical tutorials and videos, from which you can learn more about finance and capital markets. Depending on how far you want to expand your knowledge, you can choose from various topics, from ‘Housing’ and ‘Interest and debt’ to more complex subjects, such as ‘Current economics’ and ‘Inflation’.
Study.com offers free lessons on money, banking, and financial markets. If you want to start investing small amounts for your financial future, here you can find useful information to help you make better investment decisions.
Financial Institutions and Organizations
Many financial institutions and organizations invest in quality websites where you can find useful information to build a solid financial education. From basic notions to effective advice on how to borrow money when you’re in need, these websites can improve a lot your financial education.
Some of the most popular sites in this category are:
Mymoney.gov – this website belongs to the Federal Financial Literacy and Education Commission. Its purpose is to give access to financial services to all Americans, by improving financial literacy. On the website, you can find interesting information about earning, spending, investing, saving, and borrowing money. It also provides tools to help you manage your finances, such as checklists, budgeting worksheets, and calculators.
Federal Reserve Education – the site is a product of Federal Reserve. It provides useful tools to improve your financial education. Better than that, the site offers a collection of resources, tailored to meet various audiences, from kids to adults. You can use their samples and games to learn how to budget and also to teach your kids how to save money from early ages.
Building Wealth – a product of the Federal Reserve Bank of Dallas, this is a guide for beginners, ideal for people who want to build a more stable financial future for themselves and for their families.
Authoritative Financial Websites
These are websites with high authority in the niche. They don’t try to sell you any financial product, as they’re more interested in providing reliable information to help you make wiser financial choices.
There’s a high number of such websites online. At first glance, some of them may seem full of technical data and specific terminology. But, if you take the time to dig deeper than the Home page, you’ll find interesting articles and blog posts that you can use as a reference for your future financial decisions. Some of these websites also provide free online courses on financial topics.
CNN Money – it’s a reliable source of financial news and accurate information about the local and global economy. Everything is explained to help you understand better the processes that influence your financial future. Better than that, the website provides financial lessons for people who want to learn more about taxes, investments, savings, or retirement planning.
Investopedia – it’s an exhaustive collection of in-depth articles on financial topics. Plus, it’s considered by many the most important website for financial education in the world. You’ll find everything that you need to know on this site. Complex terminology is explained in simple terms so that you can understand even the most complicated financial concepts. Better than that, the website offers actionable financial information.
Yahoo! Finance – on this portal, you find financial news, latest trends in the economy explained by experts, and useful advice when it comes to your finances. It covers a wide range of topics, from personal finance to investments.
What’s Next?
According to Benjamin Franklin, “An investment in knowledge always pays the best interest.” So, to improve your financial situation, start with your education. When you know how to budget and plan your expenses, you’re more likely to spend less and save more.
Use these resources to learn as much as you can about every financial opportunity. With a solid financial education, you can build a secure financial future. In the long run, you’ll be able to use your resources to improve your lifestyle and save for your retirement without quitting on the things you love.
