When To Consider Courses in Personal Finance
If you’re one of the many individuals aspiring to improve your personal financial management skills, then you may be glad to know that there are many opportunities for you to do so. The Great Recession that occurred not too long ago has led many experts and institutions to offer personal finance courses to those who are interested.
Despite this unfortunate event, many people in the United States continue to fall short in terms of financial literacy. A survey performed in 2014 revealed that only 57% of Americans are financially literate.
Economic volatility — especially after the recent pandemic — has many people questioning whether they can manage their finances well into the future. The good news is that there is still a way to resolve this dilemma.
Taking personal finance courses can lead to lower debt delinquency rates and better average credit scores in individuals. That’s why the best time to consider getting financial education is at a young age.
However, this doesn’t mean it’s already too late for adults out of high school and college. This just means that they need to follow certain guidelines, so they can learn how to handle their money successfully.
Tips To Make the Most of Personal Finance Courses and Picking the Right One
Consider the following tips when deciding which personal finance courses to take:
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Choose an experienced educator: A good financial instructor is someone who is not only well-trained but has the experience to back up their teachings. Learning from those who know how to handle their money is essential if you want to succeed.
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Assess the education materials: You should ensure that the financial education materials and sources provided during the coursework were developed by experts. For instance, you want a savings expert to teach you how to manage your bank accounts.
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Choose appropriate courses: Make sure you select a personal finance course that matches your needs. If you’re just starting out, it’s best to choose a class that focuses on the basics, such as budgeting, understanding credit scores, starting your 401(k) plan, or learning about purchasing your first house.
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Pick relevant classes: Similar to the advice above, you want to select classes that are in line with your current level of knowledge and experience.
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Assess results and feedback: You want to choose personal finance programs and classes that share their outcomes with the public. Showing proof that attendees were able to apply their teachings in real life can be a good indicator that their courses work.
Additionally, many course offerings are available for students to take in-person or online. There are plenty of high-quality, free resources on the internet or through local nonprofit organizations that can help people on a tight budget.
This brings us to our next section.
Free Personal Finance Courses You Can Get Online
Many people looking to learn how to manage their money better are in financial distress. That’s why we’re gladly sharing a few personal finance courses that you can get online free of charge.
Money Fit Academy
Free personal finance courses and resources to help individuals build their financial skills.
All courses are taught and presented by personal finance expert, Todd Christensen and are conducted in a variety of formats.
Resources include access to free live webinars, budget and other financial calculators, financial courses that provide certificates of completion, and more.
Future Rich Signature Course
Planancial — an online personal finance resource created by certified financial planner Barbara Ginty — offers the Future Rich signature course designed to help individuals invest in their future.
The course provides seven days of free financial strategies, professional finance tips, inspirational videos, and personal stories.
Introduction to Life Insurance and Retirement Savings Course
This course will provide learners with an in-depth look at how life insurance works. It will also discuss the different types available and everything they need to know about traditional Individual Retirement Accounts (IRAs) and Roth IRAs.
Through the modules, students will learn about the differences between whole and term life insurance compared and the tax implications that come with various retirement funds.
My Financial Mountain Course
The personal finance course, My Financial Mountain, is another free course that is provided through Skillshare, a popular online learning platform. This class teaches students how to approach handling their money realistically.
It provides advice on how they can manage debt, establish their own budget, understand how credit works, and more. This free course is made up of 13 lessons and is taught by certified Skillshare instructor, Julio Lara.
Conclusion
As you can see, there are many free personal finance courses that you can get online. There are also many nonprofit organizations that offer money management classes for free.
Although the best time to consider getting financial education is at an early age, adults still have many resources available to get started.
If you’re struggling with your finances at this time, consider completing personal finance courses that you feel you’ll benefit the most from. There are many free options that can give you a good head start on a better financial future.