11 Ways on How To Get A Financial Education

How To Get A Financial Education – Have you ever wondered what the percentage of financially literate people in our population is? Sure, most people seem to be earning a good amount of money every month, but in the real sense have nothing truly tangible to show for it. That’s because a good number of us have masked our financial illiteracy with fancy jobs.

11 Ways on How To Get A Financial Education

1. School

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To start us off we will suggest the most orthodox places you could find any type of knowledge. Schools as institutions have offered an array of knowledge for centuries now. Even though initially many didn’t see the need to teach people about financial literacy, they are warming up to the idea and a good number offer financial courses now. You could do a quick search for some of the schools that offer financial education in your area.

The good thing about enrolling in a financial course in school is you get the benefit of direct interaction and guidance from a lecturer. Who can help navigate you through your journey one-on-one? Also, this kind of source offers a bit more of a structured learning opportunity because they usually start from points A-Z. The good part is that even though you’ll need to have the cash to pay for this course some institutions do offer them for free.

2. Books

Dr. T.P Chia, once said books are the passport to all kinds of knowledge, intelligence, and wisdom. It’s should be no surprise that books are the second on our suggestion list of places you could get financial education. But only if you’re dedicated, this means that you’ll have to set up at least 1 or 2 hours every single day to enjoy a financial book. The more consistent you are, the better your chances are at learning a thing or two.

I’d like to give you a list of my personal list of books that got me ahead in my financial journey, but I’ll leave that to the experts. Simply look through your search engine to find lists of financial books suggested by scholars, the rich, or even lecturers. On the downside, however, you’ll have to be your own teacher if you decide to go with the books. You’ll need to create a schedule, teach, test, and grade yourself to see whether or not you’re moving in the right direction.

3. Newsletters

When it comes to subscriptions, we can’t deny we all have more than enough to fill a whole basket or even two. But if you want to move further in life financially, you have to ditch all those movie screening subscriptions; or trade them in for more meaningful ones like financial newsletters. And because anyone with a phone can whip up some articles giving financial advice, you have to be very keen on who you listen to. The best advice comes from professionals in their area of expertise. Some newsletters come with free books and articles that target different specs of finances. With this form of education, you’re more flexible to change and progress upward in your journey. As for the cons, well basically there are a lot of hearsay writers with no proper credentials whatsoever, so stay alert!

4. Social Media

Social media has become the hub of everything in today’s society. You can sell, buy, teach and learn through this platform very easily. And you’d be a fool not to take advantage of such channels. From Instagram, you could explore for people who are like-minded as you. Others have even formed groups through WhatsApp, Messenger, and Facebook where they share financial knowledge.

They have proved to be such great sources of financial education. Another great social media platform has been YouTube. Where a good number of financial YouTubers have created an environment where anyone can have access to financial education. Be It personal finances, budgeting, investment, business finances, and more, you can’t miss what you’re looking for on YouTube. Just like our channel where we provide you with amazing financial content every other day.

5. Podcast

Because the internet gods were merciful to us, a guru somewhere came up with podcasts. And those of us who are too lazy to read through a whole book in hours, are eternally grateful. I’d like to believe that podcasts were specially made for people who have to work long shifts, and still live a life, to get spare time to read a book. As long as you have an internet connection, you can learn on the go or even in between coffee breaks. My biggest advice would be that it’s important that you avoid the trap of just hearing what the speaker is saying to you through your earphones but instead, truly hear their words. Think of podcasts as sessions with your therapist. Where you have to be present in order to get the benefit of all those sessions.

6. Magazines and online publishers

Financial knowledge is everywhere, but only those who seek it will truly get it. Magazines and online publishers have more than gossip and trends because from the very same sources you can enlighten your financial education. Bearing in mind the importance of having financial education, many people who don’t prefer bulking finance books flourish their knowledge from magazines.

It might seem obvious that books are way more resourceful in financial knowledge than magazines, but given the right financial magazines, they just might be as important. If you don’t like walking around with bulky magazines and books, you can as well, learn a thing or two from the online publishers. Besides Kiplinger and the financial times, there are a ton of efficient personal bloggers who deliver important information on the same.

7. Group forums

My teacher once said if you want the best advice ask, it from a wise man. I bet you’ll get about ten times better advice when you pull together a group of wise folks. That’s why group forums are believed to be the best source of financial education out there. These forums provide a conducive environment for brilliant ideas to be shared and acted upon. No matter how small the forum, ten people can benefit greatly from the information shared by one or two financially literate speakers. Think of it as a book club, each person can take turns picking a topic and everyone is tasked with finding out as much about it as possible. After which you have a forum and discuss what you learned. This will challenge each person to think outside the box. This can also be a really good way to get kids to learn about finances at a young age. You could even spice it up by doing a whole financial capital asset pricing model (CAPM) or debate.

8. Apps

With the Zen generation, so much has changed especially for the ’80s and 90’s kids. Things, as we have on the internet, have taken not only interactions to the next level but also education. There have been app startups on basically everything. They’re like the new robots or something. This means that you could find a couple of apps on the play store or apple store that offer financial education. This means you don’t have to go to a class where you can learn on your phone. Just download a financial education app like Zogo, mint, or, if you need a budget. You won’t believe how effortless getting a financial educator is after doing so!

9. Banks

Who would be a better source of financial knowledge if not the one who prints out currency? It’s obvious that they’d have crucial information on financial knowledge. They could open up your eyes to the options you have on savings and investments. You just walk into your registered bank or whichever bank you’re eyeing and go to the customer care desk. From there you’ll get all the information that you need or will be redirected to a financial consultant. Because it’s only the chef who can let you in on the secret ingredient they use, banks are the best sources of financial information. It doesn’t matter what age you are, the most important requirement is that you’re ready to take the first step. After which they’ll find you the best person within their institution to hold your hand. You also don’t have to worry about being conned out of your money as long as you keep all transactions transparent.

10. Mentors

If you still subscribe to the classical old fashion way of acquiring your knowledge, then you’d be a fool not to be jumping on the mentorship bandwagon. Basically, a mentor of finance should be one who’s already taken the steps you’d wish to take in your financial life. They’ve tried and tested almost every trick in the book. Which is an asset worth the time and effort to build. Also, consider someone you actually have a good interaction with, and who can see your vision from your point of view. Do not pick friends to be your mentors as it becomes harder for them to call you out when you’re out of line and you’ll need that a lot. By doing so, you’ll be able to move up the financial ladder faster without giving up your own authenticity. They’ll help stir the wheel with you towards the right direction and on to the finish line which is financial freedom.

11. Family

People say that the beginning of good manners always starts at home. There’s also no better place to strengthen roots than at a home. And the greatest source of life lessons children learn are from their parents. Think about the most essential life skills like brushing your teeth, and being taught the importance of savings, who do you think taught you those? I’d credit my mother for the job well done in making sure I’m a pleasant human to be around, even my charms come from her. But ultimately, my father molded me into who I am today. He was very much like “the rich dad” in Robert Kiyosaki’s book the rich dad poor dad. Because he opened up his financial life to us at a very tender age. Over the weekend before shooting some hoops at the end of the month we’d come up with a monthly budget which we worked around. He was very open about investments and savings and during vacations, he’d show us how the smart financial work paid off. I don’t think I’ve looked at money the same way since I was 12. That’s why for me family is the greatest source of any and all financial education in a person’s life.

I hope you learned a thing or two and will take the chance and learn and grow your financial knowledge. Just ten people could change the statistics of the world’s financial literacy. I hope you’re going to be the 1% that brings about those changes. If you’re afraid that these are untested theories, I’d like to ask if you know the story of how Warren Buffet became one of the richest men in the world. Also, remember the renowned Robert Kiyosaki I believe that his family specifically his two fathers helped him get ahead financially. These aren’t just miracles. They’re tried and tested methodologies that actual people used and they worked to their benefit.

RELATED: 4 Rules Financial Literacy for Beginners

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