Understanding your finances makes a world of difference when it comes to managing your money responsibly. Knowledge is power and the same applies when you want to feel powerful and confident about your money choices. Here are four ways you can stay educated on financial literacy for improved savings, budgeting, and investing skills.
Improve Your Financial Knowledge With Educational Content
Money talk can sometimes feel intimidating because we may not be familiar with the topic. However, seeking education on personal finances will help you become secure with your money management choices. Use resources like social media, podcasts, and more to finetune your financial literacy education.
Subscribe to Financial Content
Digital media consumption statistics show that we spend, on average, 508 minutes per day consuming media online. That is over eight hours a day – you might as well use this time wisely and pledge your time to financial content. Digital media is all around us in the form of social media, video, and more. If you find yourself diving into video, consider YouTube to seek out content that can help keep you in the know on personal finance today. There are various YouTube Channels (ours included) full of free educational information on the money topics you may wish to brush up on.
Social media is another easy way to consume educational content that can support your financial literacy. Follow accounts on socials like Instagram where you can get tips and advice on various topics ranging from budgeting and saving to investing and more. It can also help keep you up to date with the latest news and trends in personal finance on topics like credit cards, credit score advice, debt management, and more.
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Read Financial Books
While digital media is at the top of its game, a good old-fashioned book is an education-worthy option for those who prefer it. A book on financial literacy will give you a more detailed and insightful look into various financial topics from professionals in the field of money. You might find personal finance books written by professionals like accountants, financial advisors, investors, and more. Here’s a list curated by TheBalanceMoney.com for some of the best personal finance books on the market today.
| “Why Didn’t They Teach Me This in School?” by Cary Siegel | “Rich Dad Poor Dad," by Robert Kiyosaki | “The Total Money Makeover.” by Dave Ramsey |
| “The Automatic Millionaire,” by David Bach | “Broke Millennial” by Erin Lowry | “The One-Page Financial Plan” by Carl Richards |
| "I Will Teach You to Be Rich," by Ramit Sethi | “Clever Girl Finance” by Bola Sokunbi | “The Psychology of Money'' by Vicki Robin |
Listen to Podcast
As an extension of digital media content, podcasts are for the listeners. This is for the multitasker, the person on the go, a podcast is a perfect way to consume the information you need on financial literacy while you go on about your daily responsibilities. The convenience of listening to podcasts is its audio versatility. You can listen to podcasts while you commute, during workouts at the gym, while you cook dinner, and possibly even while you work (if your job allows).
Likewise, if you prefer books but don’t have the time to sit down and read, an audiobook may solve this issue. Treat the audiobook like a podcast and listen while you work or at home while you clean, or whenever you can squeeze in extra listening time.
Speak to a Financial Professional
Lastly, stay educated about financial literacy by speaking to a financial professional. It is common for banks and credit unions to provide resources and tools that can help manage your money. Some might offer services where you can speak to a financial professional like an advisor, to give you guidance on how to manage your finances and even on how to invest.
The Bottom Line
We have covered ways to stay educated on financial literacy via social media, video, podcasts, books, and by talking to professionals. It is important to stay active in your finances to build healthy money habits that can positively impact your daily comforts. Likewise, it can help you feel confident and prepared for any of life’s financial challenges that you may face.
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