If you are like most people, you can do a little better with your money. Just like anything else, it is difficult to improve without first learning how. If you look online, you can find a multitude of personal finance personalities large and small. A world of resources exists online and in bookstores. Let’s talk about how you can improve your financial literacy and become more equipped to take charge of your financial future.
Defining financial literacy
“Financial literacy” is a big scary word that basically just means you understand basic financial principles. This term encompasses things like basic investing, saving strategies, debt management strategies, and bill paying. These are concepts everyone is capable of learning and understanding with relative ease.
So, what are some of the different platforms you can use to increase financial literacy?
There are many ways to learn basic financial concepts. Many fantastic personal finance experts write books. Here are a few:
- Total Money Makeover by Dave Ramsey;
- Everyday Millionaires by Chris Hogan;
- Your Money or Your Life by Vicki Robin;
- The Simple Path to Wealth by JL Collins;
These are just a few to get you started. An important note: you do not have to buy these books. They can be found at your public library. If you do not find them there, check out a used book store in your town or online such as www.thriftbooks.com.
Blogs are still as relevant as they have ever been, and plenty of trusted experts use blogs as a platform. Some of the more popular and useful blogs are:
Those are just a few examples of blogs that can help you on your path to financial literacy.
Podcasts are huge these days. They are accessible through all sorts of podcasting platforms like Spotify, Podcast Addict, YouTube, iTunes, etc. Many of the authors and blogs that were mentioned above have podcasts as well, but here are few that have not been mentioned:
- Planet Money
- Radical Personal Finance
- The Fairer Cents
- Money For the Rest of Us
- Smart Passive Income
- The Mad Fientist
Podcasts are a great way to improve financial literacy on the go.
Why you should improve your financial literacy
Learning more about personal finance does not have to be a scary proposition. There are tons of online groups on Facebook, Twitter, Instagram, etc. full of people just like you that want to improve their financial lives. It can be exciting and fulfilling. Financial literacy can improve your relationship with your spouse and others.
Financial stress causes divorce, stress, anxiety, depression, and more. You can be healthier mentally, physically, and socially by taking control of your own financial well-being.
If you are facing financial trouble and you are being harassed by creditors, or you are considering bankruptcy to get a fresh start, you need the skills and experience of a licensed attorney. The Debt Relief and Education Foundation was built to help people with low income get the fresh start they deserve. Contact us today for a free consultation and get yourself on the road to financial freedom.