How to Use Online Resources to Learn About Personal Finance

April 10, 2020

Personal finance can seem like a daunting subject, filled with complicated jargon and strategies. But it doesn’t have to be! The good news is that in today’s digital age, there’s an incredible amount of information available to help you take control of your money. This post will outline how to effectively use online resources to learn about personal finance, regardless of your current knowledge level.

1. Start with the Basics - Foundational Websites:

Investopedia: (https://www.investopedia.com/) – This is the go-to resource for financial definitions, explanations of investment terms, and articles on various financial topics. It’s a fantastic place to build a foundation.
NerdWallet: (https://www.nerdwallet.com/) – NerdWallet offers comparisons of financial products like credit cards, loans, and insurance. They also have excellent articles and calculators to help you understand your options.
Bankrate: (https://www.bankrate.com/) – Similar to NerdWallet, Bankrate provides comparisons and advice on banking, loans, and investments.
The Balance: (https://www.thebalancemoney.com/) – Offers practical tips and advice on budgeting, saving, debt management, and more.

2. Budgeting & Saving Tools:

Mint: (https://mint.intuit.com/) – A free budgeting app that connects to your bank accounts to track your spending automatically.
YNAB (You Need A Budget): (https://www.youneedabudget.com/) - (Subscription based, but powerful). YNAB uses a zero-based budgeting system, forcing you to actively allocate every dollar.
PocketGuard: (https://www.pocketguard.com/) – Another popular budgeting app with a focus on tracking your spending and setting financial goals.

3. Investing Resources:

Khan Academy – Personal Finance: (https://www.khanacademy.org/economics-finance-domain/core-finance) – Excellent free courses on investing, stocks, bonds, and more. Perfect for beginners.
Morningstar: (https://www.morningstar.com/) – Provides independent investment research, ratings, and analysis of stocks, mutual funds, and ETFs. (Some content is premium, but there’s plenty of free information).
Seeking Alpha: (https://seekingalpha.com/) – A community-driven platform for investment research and analysis.

4. Courses & Learning Platforms:

Coursera & edX: (https://www.coursera.org/, https://www.edx.org/) – Both platforms offer a wide range of free and paid courses on personal finance, often taught by university professors.
Skillshare: (https://www.skillshare.com/) – Offers courses on various aspects of personal finance, including investing, budgeting, and debt management.

5. Important Considerations:

Cross-Reference Information: Don't rely on just one source. Verify information from multiple websites to ensure accuracy.
Beware of "Get Rich Quick" Schemes: If something sounds too good to be true, it probably is. Stick to reputable sources and established financial principles.
Start Small: Begin with a focused area of personal finance that interests you, such as budgeting or saving for a specific goal.

Resources to Explore Further:

The Motley Fool: (https://www.motleyfool.com/) - Offers a lot of free financial news and analysis.
U.S. Department of Treasury: (https://home.treasury.gov/) – For official information on government financial programs.

Learning about personal finance doesn't have to be intimidating. With the wealth of online resources available, you can build your knowledge and take control of your financial future. Happy learning!