Do you want to become more financially savvy this year? Of course, you’re probably familiar with terms like interest rate and 401K. But what does it all really mean? If you truly want to take control of your financial future, you need to immerse yourself in the world of finance and educate yourself about it.
Now, that might sound extremely boring and tedious, but it doesn’t have to be. There are a number of engaging—even fun—tools, online resources, and apps that can help make you smarter about money.
Here are 4 tips to help you become more financially savvy.
Read financial blogs
Picking up a 400-page book about finances can be daunting. Instead, gain some knowledge about finances in as little as 5 minutes per day by regularly reading financial blogs.
Since there are a ton of financial blogs online, it can be difficult to know where to start. So, here are some popular personal finance blogs you can check out:
- Money Under 30 – Financial lessons and advice for young adults.
- Debt Roundup – Tips on how to save money and pay off debt.
- The Penny Hoarder – Offers advice on topics like making money from home, budgeting, taxes, and more.
- Millennial Money – This blog’s mission is to make financial freedom available to everyone.
- Good Financial Cents – Tons of articles on topics like retirement, investing, insurance, and more.
Bookmark a few of these blogs and read a couple blog posts each day. In no time, you’ll have a wealth of knowledge that will help you reach your financial goals.
Take an online course
Want to really master your finances this year? Go back to school! Don’t worry though, you don’t have to pay for an expensive course and sit in a classroom to learn how to manage your money. Luckily, there are a ton of online courses available, many of them free, that can help you learn more about managing your finances.
For example, there are a number of free financial courses on online learning platforms like Coursera and Alison. On platforms like these you can find personal budgeting and financial literacy courses for beginners as well as more advanced courses like financial accounting. Remember to check out the course description and online reviews to make sure the course offers what you need. With most of these courses, you’re able to work at your own pace so you can easily fit lessons into your busy schedule.
Use online banking
While learning about finance through blog posts and online courses is helpful, it’s also important to keep an eye on your own bank account by using online banking. Online banking lets you monitor your money on a daily basis, which is the best way to learn how to manage your money better.
The added bonus is that you don’t have to visit your bank branch and wait in line in order to view your transactions, transfer money between your accounts, or pay your bills—you can do it all from the comfort of your own home.
Download financial apps
Learn more about personal finance and budgeting on-the-go with financial apps! There are a ton of educational and fun apps you can download right to your smartphone that will help you become more financially savvy.
Mint is a great budgeting app that pulls together all of your transactions so that you can see how you’re spending your money. You can also easily create budgets and check your credit score. There’s basically a financial app for whatever financial goal you have. Want to pay off debt? Use the You Need A Budget (YNAB) app. Interested in investing? Try out an app like Robinhood. With a quick search of the app store, you’re sure to find a financial app for your needs.
Educate yourself to become more financially savvy
Education is the key to financial success. Use these tips to learn more about personal finance and you’ll be able to crush your financial goals and you can achieve financial peace of mind.