Personal finance topics such as saving and investing, purchasing a property, retirement planning, the stock and bond markets, and tax-sheltering strategies are crucial to making well-informed, successful financial decisions.
Financial literacy is essential to attaining significant financial objectives throughout one's lifetime.
Obviously, we're partial to a particular finance website, but the reality is that there are a number of tools worth your time!
Here are some resources that we suggest you investigate.
Credit Karma is one of the most comprehensive resources currently available for financial literacy.
With a concentration on credit scores and financial management, this free website and mobile app provide a wealth of information and tools to enhance your financial literacy and help you accomplish your objectives.
The Credit Karma app provides:
Additionally, you can observe and compare credit card, loan, and insurance offers.
Investopedia is a comprehensive website for financial education that provides an enormous amount of information on personal finance, investing, and trading.
It provides articles, tutorials, and videos on a variety of financial topics, making it a valuable resource for anyone seeking to increase their financial literacy.
The website's primary objective is to provide exhaustive and accessible financial education, which it achieves by providing plain explanations and illustrations of financial concepts.
NerdWallet is a website that provides substantial value through its articles, tools, and reviews.
Individuals and small enterprises have access to the resources, data, and insight necessary for making financial decisions through the platform.
Excellent, well-written articles about personal finance and seemingly infinite offers for credit cards, mortgages, and other financial products are the primary forms of these elements. You can track your net worth and cash flow, and learn about your credit score on the NerdWallet app.
If you learn best via data and numbers, FINRA is a tool that offers plenty of data to sift through.
Whether the topic is about one of these topics, FINRA has loads of resources.
FINRA's financial literacy quiz is also a great way to assess your financial knowledge and learn how to improve.
Access to these studies, reports, and resources is completely free, making this a fantastic resource to share with employees and students.
WealthSimple may not provide you with educational resources, but it is a good way to get practical in managing your finances. It is a personal finance app that helps you track your expenses and long-term financial goals.
You can:
You can also set notifications on spending limits. This way if you are spending is nearing the pre-set limit, the app sends you a notification to remind you. This ensures that you stay on the budget and do not overspend.
Mint is another personal finance app that helps users manage their finances by:
However, unlike WealthSimple where you pay a monthly subscription, mint is free. The platform connects to users' bank accounts and credit cards to automatically import transactions, making it easy to track spending and budgeting.
The title of this tool says it all - you need a budget.
If you’ve done any personal finance research, you’ve probably heard of YNAB. If you've done any investigation on personal finance, you've likely heard of YNAB.
YNAB can appear intimidating to newcomers because it is similar to a training camp for your budget. Beginning the method requires a considerable quantity of effort and a high level of self-honesty regarding your financial situation.
However, some personal finance experts believe that this type of intense introspection is what will help you achieve your financial objectives over the long term.
There are so many books that teach personal finance.
Books like these are timeless resources that teach the basics of money management and personal finance.
If sitting down to leaf through pages is a major hindrance for you, you can buy audiobooks and listen at your convenience.
There are also podcasts that teach personal finance.
However. Given the popularity of social media, you have to be careful that you subscribe to the right ones lest you'll be getting the same information in a repackaged form. YouTube channels such as The Swedish Investor are a good resource to start with.
Not many people realize that you can learn the basics of money management from playing Monopoly!
Financial lessons such as these can be learned by playing the game.
Better still, you get to do it with fake money, but the feelings it evokes may be just as real as when you invest in real life.
The For Dummies book series are a treasure for anyone hoping to learn the basics of any topic including personal finance.
There are books on:
It brings down complex financial concepts into simple basic terms which makes it easy for beginners to understand. Any financial topic you are interested in, there are chances that there is a For Dummies book on it. All you have to do is make out the time and read.
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