What is Financial literacy:
Financial literacy is a set of skills and knowledge that allows the person to make the correct and most effective decisions with all their financial sources. Financial literacy is important because it helps people become self-sufficient and gain financial stability. In the world, one-third of adults understand basic financial literacy. But about 4 in 7 Americans are financially illiterate, which is over half.
Websites for Financial Literacy:
CNN’s Money 101:
CNN’s Money 101 covers over 23 financial topics through tutorials. It's easy to understand for newcomers to the subject. This is a great website to get started learning about personal financial literacy and have a better understanding.
GCF Learn Free:
This website has 90 finance tutorials from budgeting, bank, car, house, and living within your budget. All the tutorials are in detail and include the latest trends and data from Google Analytics to develop the curriculum.
This website is used to help people learn to spend, earn, save, invest, protect and borrow efficiently. The website is made by the Financial Literacy and Education Commission, as a part of the U.S. Treasury.
Yahoo! Finance Education:
Yahoo finance is a good resource for basic finance concepts like investing. This website also provides the latest financial news and resources.
Apps for financial literacy-
Invesmate courses are designed by finance experts, and they take the complicated investing problems and simplify them. The course comes with quizzes and videos. It features real-world examples to help you learn.
There are series of video presentations on personal finance. That includes taxes, accounting, interest, debt, etc. The videos explain concepts like how what impacts your financial situation and the problems that can cause it.
World of Money:
World of Money has content for everyone, and each lesson comes with videos and quizzes at the end. These lessons are taught by people who are a similar age as you.
Zogo is similar to Duolingo, but it pays you when you complete the lesson. Each lesson progresses through financial concepts, such as budgeting and building wealth. You can complete each lesson within a few minutes. It’s a good resource for those who don’t want to spend too much time learning finance.
There are many ways such as enrolling in free courses, or you can try a more hands-on approach by starting a budget and prioritizing your retirement plan. Books are great for improving your financial literacy. Learning how to manage money is not easy, it can help you build consistent habits which can make your life less stressful.
Written by Anna Li