13 Free Online Classes on Personal Finance (2024)

FAQs

How can I teach myself personal finance? ›

Listening to podcasts and reading books about specific areas of finance that interest you help break down more complex financial topics and speed up the learning process. There are also many paid and free courses out there that offer courses in different areas of finance and investing.

Personal finance basics include budgeting, saving, investing, managing debt, and understanding credit.

Students who are required to take personal finance courses starting from a young age are more likely to tap lower-cost loans and grants when it comes to paying for college and less likely to rely on private loans or high-interest credit cards, according to a study by Christiana Stoddard and Carly Urban for the National ...

#1 Don't Spend More Than You Make

When your bank balance is looking healthy after payday, it's easy to overspend and not be as careful. However, there are several issues at play that result in people relying on borrowing money, racking up debt and living way beyond their means.

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

The five C's, or characteristics, of credit — character, capacity, capital, conditions and collateral — are a framework used by many lenders to evaluate potential small-business borrowers.

The 10% rule, often mentioned in personal finance discussions, recommends putting (yep, you guessed it) 10% of your income toward savings and investments. It's a simple way to encourage financial responsibility and help you build a solid financial future.

Step 1: Take an inventory of your finances

To get started, take out some paper or open a document and list out your: Major assets, such as an estimate of the equity in your home, car, checking accounts, savings accounts, retirement accounts, and investment accounts.

If you want to learn how to make smart financial decisions, save more and delete debt, you're in luck. Today there are plenty of online personal finance courses you can use to sharpen your money-management skills.

Topics covered include personal financial planning; money management; tax strategy; consumer credit; purchasing decisions; insurance; investing in stocks, bonds, mutual funds, and real estate; retirement; and estate planning.

Why don't they teach personal finance in school? ›

High schools might avoid teaching personal finance due to several reasons, including the perceived lack of relevance to students' current lives, the gap between financial literacy and financial responsibility, and the practical constraints of traditional teaching methods.

The reasons that most people struggle financially will vary on the individual case but can include a lack of financial literacy, a scarcity mindset, self-esteem issues leading to overspending, and unavoidable high costs of living.

Attaining financial security can be a daunting task, but it isn't unachievable. It requires a great deal of discipline, setting goals, and making sure you stick to them. If you start early enough—say, in your 20s—and follow the steps listed above, you may become financially secure by the time you reach your 30s.

At What Age Do Most People Become Financially Independent from Their Parents? There's no one-size-fits-all answer to this question. Some people begin covering all their own living expenses starting from age 18. Others become financially independent in their 20s or 30s.

As with most teaching jobs, you must go through some level of education to become a personal finance instructor. However, there are different paths you can take to meet the qualifications. There are certification courses to become a certified financial education instructor.