Feeling Financially Illiterate? 5 Ways to Gain the Knowledge You Need

Wednesday, June 17, 2015, 6:00 AM | Leave Comment

Financial illiteracy is an extensive problem for many individuals and families around the United States. Americans collectively have a savings rate that leaves something to be desired.

Fortunately, there are at least five online resources out there for those motivated to gain the knowledge necessary to succeed in the financial marketplace.

5 Ways to Gain the Knowledge You Need

  1. Talk Radio

    Talk radio in America is known for being filled with shows on sports, conservative politics, and religion, but personal finance talk shows are also very popular.

    Shows that are produced by financial experts are crammed with information and they also take calls and emails from listeners to assist with their personal situations.

    Nationally syndicated radio shows like the Clark Howard Show and the Dave Ramsey Show are heard by millions of listeners every day over the airwaves and via iTunes and their free Android apps.

  2. Free College Courses

    There are numerous college courses that deal with personal finance and are free to take online. UC-Irvine, Yale, MIT, and Open University all offer classes on personal finance at varying levels of comprehension.

    Another solid resource is Khan Academy, which offers free education in a variety of topics including economics and finance. Khan Academy is also easy to navigate, and allows the user to learn at their own pace.

  3. Sente Mortgage Pros

    Knowing about the “why?” of financial ins and outs is a specialty of Sente Mortgage professionals. This mortgage company has created a section on their website dedicated entirely to address financial literacy.

    This resource was created to help manage your money better and help teach basic finance principles, as well as provide reference tools for various other financial practices.

    This service is invaluable to newcomers as it provides them with proper financial education.

  4. Financial Literacy and Education Commission

    Established by the Fair and Accurate Credit Transactions Act of 2003, the Financial Literacy and Education Commission was created to address the growing problem of financial illiteracy.

    The commission created the website mymoney.gov, which is full of basic finance principles, as well as calculators, quizzes, and budget worksheets to assist novices with financial education as well.

  5. National Endowment for Financial Education

    The NEFE is a non-profit organization dedicated to researching personal finance issues, and helping consumers make smart choices.

    The NEFE also created several different educational websites such as smartaboutmoney.org, which has a spending diary, a payroll adjustment calculator, and a resource library with hundreds of articles on money management topics.

Financial hardship is one of the most demoralizing circumstances that people can experience. These five free resources can help consumers become financially literate and take control of their money.

Author BIO

Meghan Belnap is a freelance writer who enjoys spending time with her family. She also enjoys being in the outdoors and exploring new opportunities whenever they arise. Meghan also enjoys researching new topics that help to expand her horizons. You can often find her buried in a good book or out looking for an adventure. You can connect with her on Facebook and Twitter.

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