The Top Four Resources for Financial Literacy [2021]
2020 left most American adults feeling financially vulnerable, so it comes as no surprise that many people are seeking out the top resources for financial literacy. But with a world of information at our fingertips, how do we decide what’s a top resource for financial literacy and what’s simply lingering among the valuable information in the Google search results? A quick search for the question, how do I start learning about personal finance, retrieves 3.5 billion results in less than a full second. We’ve done the digging to make the top resources for financial literacy easier to find.
Spotloan’s Suggestions on Resources for Financial Literacy
1. Online Courses to Aid in Your Financial Education
NAFSA is a national trade association dedicated to improving the welfare of sovereign nations. A major aspect of their initiatives include promoting responsible financial services. They offer self-guided e-learning courses on things like how to build and maintain credit, how to create a budget, and more. Specifically, using their easy-to-access financial education platform, you can take introductory courses on topics such as the following:
- Checking accounts
- Credit cards
- Emergency savings
- Budgeting
- Estate planning
- Retirement
- Investments
There are hundreds of courses on the site to choose from. Smart About Money is another provider of online courses. This one offers free and customizable financial education. They cover financial areas like earning, emergency funds, financial well-being, healthcare, housing, retirement and other life transitions, transportation, and money basics.
2. Best Financial Literacy Books
In any area of life and learning, books are an excellent resource for gathering information and gaining insight, and financial literacy is no exception. Financial advisors have been recommending books on personal finance to their clients for decades as an easy and relatable way to learn about money.
On top of being convenient and easy to access, books are also extremely affordable options for financial literacy. You can buy them used, borrow them from the library for free, or download their ebook versions with whichever app your library uses, also for free. Most libraries work with Hoopla or Libby to provide their customers with free ebooks and audiobooks, as well as other useful resources. But there are thousands of books on finance, so if you’re looking for the best place to start, here are a few of the most popular off of the list of the top 10 books that improve your financial literacy:
- The Richest Man in Babylon
- The Only Investment Guide You’ll Ever Need
- The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money
- The Behavior Gap: Simple Ways to Stop Doing Dumb Things With Money
- Happy Money: The Science of Happier Spending
3. Listen to Podcasts to Aid in Your Financial Literacy Education
If you prefer listening over reading, you can tune in to some financial literacy podcasts to help your financial goals take shape. From kick-starting your savings to retirement planning, there’s something for everyone, and many of the most popular financial literacy podcasts are hosted by financial experts that have written books, blogs, and websites you can follow along with, too.
For learning about investing, try InvestED. For passive income and entrepreneurship, start with Smart Passive Income or The Tim Ferriss Show. Financial literacy podcasts have been rapidly growing in popularity in recent years, so there are plenty of options out there to sift through.
4. Browse Personal Finance Websites
Websites are another excellent way to learn about financial literacy for free. Personal finance websites cover every topic you could think of, from living more frugally to retiring on time or early, investing in real estate to putting your kids through college, and evaluating mortgage lenders to grocery shopping on a budget.
The Spotloan financial education page contains nearly a hundred different articles on budgeting, emergency savings, mindful spending, cutting costs, and other important financial topics.
You can identify other great articles on different lists of the best personal finance websites:
- The Penny Hoarder
- Wise Bread
- Entrepreneur
- ChooseFI
- New York Times: Your Money
