Do you want to improve your financial literacy skills? Are you searching for the best resources and free online materials to help you better understand the basics of budgeting and personal finance? There are many ways to keep track of your finances and manage them better today.
If you don’t know where to start and how to search for the most relevant and updated materials, keep on reading to find more about the top 10 online sources. Learn financial literacy at dailyprosper.com and have enough information to make smart financial decisions in life.
Why Is Financial Literacy Essential?
Not many young people realize the importance of having financial literacy skills. However, the earlier you start learning about it and accumulating useful knowledge, the better you will be able to handle your personal finances and deal with monetary emergencies in the future. Financial literacy should be taught in schools so that children are prepared to cope with various situations and learn how to manage their money.
According to the 2021 study, 74% of teenagers don’t feel confident about their financial education. It means, three out of four teens need to improve their financial literacy to avoid mistakes with their personal finances.
Many students find the topic of financial education interesting and relevant. If they can’t find updated resources and useful materials, they won’t have the necessary knowledge about student loan debts and how to deal with them. Many financial coaches advise parents to teach their children financial literacy at a young age or take advantage of special resources that can be found on the web. This way, the students will learn how to budget, deal with a student loan, repay debt faster, and be accountable for their finances.
Top 10 Online Sources to Learn Financial Literacy
#1 Finance at Khan Academy
This is a great online tool for students and adults who want to boost their financial literacy skills or gain the necessary knowledge if they don’t know even the basics. Khan Academy is a useful online platform to get acquainted with financial education and boost your expertise in this field.
There is a series of video presentations on various finance-related topics on this website. The presentations cover all the topics from financial statements and accounting to taxes, inflation, and debt repayment. If you want to boost your knowledge in economics or need some expert advice on how to deal with a particular financial matter, videos and free resources from Khan Academy can help you understand this topic and answer some of your questions.
This is another helpful online source to learn financial literacy. There are eleven chapters offered by this platform. Each consumer may benefit from this online platform and these eleven chapters containing relevant information with transcripts, video lessons, quizzes, etc.
There is a wide range of topics covered by this platform. You can find updated topics and use quizzes for self-assessment to check your progress and how well you understood a certain topic. You may learn the basics of money management here as well as the difference between wealth, money, and income.
This is a website sponsored by the government. It offers free information to parents and students who need experienced advice on finance-related topics. You can visit this platform and learn about different types of financial support and assistance programs. You will be able to learn about savings, loan payments, and how to calculate your college costs. Students and recent graduates will especially benefit from this website.
This is a non-profit foundation meant to spread financial resources and educate students on different financial topics to help them prepare for adult life and avoid mistakes. This platform has been working for over 30 years. It is designed to educate young American citizens on finance-related topics and help teenagers gain the necessary knowledge to cope with their personal finances in the future. A broad range of topics and articles will help you make smart financial moves and avoid debt. If you’re carrying unsecured debt totaling more than half of your annual salary, you’re absolutely in a big trouble, better seek debt settlement to resolve the issue!
#5 Fit My Money
FitMyMoney official is another useful online platform where you can find sources to learn financial literacy. This is a relatively new website where everybody from teenagers to their grandparents may get professional advice about different financial topics. If you plan to go to college and get a degree or need more about student loans; plan to apply for a loan or use a cash app; want to calculate a personal loan, don’t hesitate to utilize this resource.
This is a free online website where you can find a course on personal finance. Every consumer can benefit from it as it was created by the AFSA Education Foundation. College and even high school students may take advantage of this free online course as a supplemental resource to their basic curriculum.
This resource is extremely useful for college graduates. Those who want to protect themselves from emergencies and get ready for adult life should read the articles and materials from this platform. There is an educational online game in which you can learn about various occupations, types of income, having kids, etc.
You can choose your identity and follow the rules to have a checking account with some cash you may use for necessities. This is an interactive tool for learning how to handle money, make wise financial decisions, and cope with money issues. The decisions you make in this game cost some cash that is withdrawn from your online account. It can be challenging to make ends meet until the end of the game.
#8 CNN’s Money 101
Do you want to learn the basics of financial education? If you need to start from scratch you can benefit from CNN’s Money 101. They offer free online tools and lessons on setting monetary goals, budgeting, and keeping your personal funds in order. All in all, the platform covers 23 topics on personal finance and you can choose the tutorial you want to read through.
#9 Yahoo! Finance Education
Are you willing to find the description of a certain financial term? This resource is right for you. You can learn about personal finance, budgeting, and investing here. Each of the topics is covered in great detail and is easy to understand. You can find the latest financial news here and professional tips from reliable and trusted sources such as the Wall Street Journal.
#10 Dave Ramsey
Everybody has already heard about Dave Ramsey. He is the creator of an educational web platform that contains relevant materials and resources including budgeting tools, insurance tips, and general financial tips. You can use a radio show, a podcast with updated articles, or online classes. There are also plenty of recommendations about mortgage and insurance companies.
In conclusion, you can use any of the mentioned free online tools and resources to learn financial literacy and become more financially fit. Making smart financial decisions means you will avoid problems with personal funds and huge debt.