Using Online Resources to Learn Money Management

How to Use Online Resources to Learn About Money Management

Mastering money management has never been more accessible, thanks to the wealth of online resources at our fingertips. However, not all of these resources are reputable. Recently, social media platforms like TikTok and Instagram have been awash with self-proclaimed finance gurus doling out personal finance tips.

Millions of users around the world consume their advice. While there are so-called finfluencers who are qualified to give financial advice, experts warn that there are content creators with more sinister motives giving unvetted tips.

So, today, we’ll be sharing a few online resources crafted by real money experts. Whether you’re just starting your financial journey or looking to refine your skills, with the right research, the Internet can be a treasure trove of information, tools, and insights to strengthen your financial literacy. From interactive online courses to expert advice on managing debt, online resources can provide you with a dynamic and comprehensive financial learning experience.

In this article, we’ll explore the myriad of ways you can leverage different digital tools and courses to broaden your understanding of money management and take charge of your financial well-being.

Online Resources for Improving Financial Literacy

Below are some of the best places to learn about money management.

Khan Academy’s YouTube channel

Khan Academy’s YouTube channel has been the go-to resource for students wanting straightforward and easy-to-understand math and science lessons since 2008. Today, the main channel has over 8 million subscribers, 2 billion views, and thousands of videos covering a wide range of topics, including personal finance.

With support from Bank of America, Khan Academy has now branched out and created a separate channel dedicated to all matters relating to careers and personal finance. Here, you will find valuable lessons such as tips on how to negotiate debt with creditors, insight on renting versus buying a home, and career advice from real people in various industries.

In addition to their YouTube channel, Khan Academy has also partnered with Capital One to create a free online financial literacy course covering everything from budgeting basics to retirement planning. Through their expert-curated series of videos, practice exercises, and other teaching tools, learners are allowed to foster financial well-being and security.

Duke University’s behavioral finance course

Behavioral finance courses provide insights into how psychological factors influence financial decisions. Understanding biases, emotions, and cognitive errors can help individuals make more informed choices, manage risks better, and enhance their overall financial health. This knowledge also empowers individuals to navigate the complexities of personal finance with a deeper awareness of their own behavioral patterns.

You can access Duke University’s three-week online behavioral finance course via Coursera. Under the guidance of Emma Rasiel, an associate chair and professor at Duke, you will learn how to improve your spending, saving, and investing decisions for the future. This program is best suited for beginners who want to be able to interact with professors, receive graded assignments, and earn certifications for an added fee.

Everand’s E-books on Money Management

Everand is a subscription-based digital library that gives you instant access to thousands of ebooks, audiobooks, and podcasts spanning genres like self-improvement, business, finance, money management, and more. Given the array of ebooks available on Everand, here are a few recommendations for the best titles on personal finance.

Stephen R. Covey’s bestselling book, The 7 Habits of Highly Effective People, imparts valuable money management lessons as each habit can be applied to personal finance. In the book, Covey emphasizes proactive goal-setting, strategic planning, and prioritizing financial tasks.

Continuous improvement in financial knowledge and adaptive planning is also highlighted, providing a comprehensive guide for effective money management. Bill Perkins’s Die With Zero: Getting All You Can from Your Money and Your Life and Benjamin Graham’s The Intelligent Investor are also helpful ebooks you can add to your line-up.

Overall, Everand provides a simple and cost-effective way to deepen your personal finance knowledge. Compared to purchasing individual ebooks and audiobooks, which can get expensive, subscribing to Everand gives you an affordable means to attain financial literacy.

edX’s Finance for Everyone Seminar

The Finance for Everyone: Smart Tools for Decision-Making course created by the University of Michigan and taught by finance professor Gautam Kaul aims to deliver a comprehensive understanding of finance for individuals with varying levels of expertise.

Here, you can expect to learn essential financial concepts, tools, and decision-making strategies. Finance for Everyone covers budgeting, investing, risk management, and understanding financial markets.

The free, six-week course consists of weekly learning sequences comprised of short videos embedded with interactive learning exercises to apply what you’ve learned. It also includes tutorial videos akin to on-campus discussion groups where you can engage with other people taking the course.

Finance-Focused Blogs like The Money Galileo

Numerous credible finance-focused blogs offer practical tips, advice, and real-life stories that can enhance your understanding of personal finance. On this website, we have a catalog of articles on how to make money, save money, manage debt, and grow your income through investments.

For instance, our article Investing Basics for Beginners gives you an overview of how to set investment goals, various types of investments, and strategies, as well as the benefits and risks that come with investing.

Additionally, blogs are ideal for exposing readers to different perspectives and expert opinions in the ever-evolving financial landscape. Engaging with finance blogs regularly can help individuals stay updated on current trends, learn from other’s experiences, and access practical, actionable advice to improve their money management skills.

Developing healthy spending habits and making wise investments starts with building a foundation of financial literacy. The more that you learn and understand about saving, investing, budgeting, and borrowing, the better equipped you’ll be to seize opportunities to boost your financial health and future financial security.

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