Putting time and effort into learning personal finances can greatly improve your financial situation. I have listed out three ways to improve financial literacy below.
Consume Good Content
Pay attention to what you are consuming. If you intentionally read and listen to good sources, you can learn financial behaviors that will positively impact financial behavior. Below are several of my favorite sources:
faithfi.com - There are frequent articles and FaithFi also does a radio show/podcast with Rob West where callers can call in with financial questions. Hearing how Rob responds to questions that come up will give you ideas for your own situation.
studentloanplanner.com - Travis sends out a weekly Thursday email that I definitely always read. He obviously sends pertinent student loan information but is delving into other financial topics as well.
awealthofcommonsense.com - Ben frequently uses charts and data to communicate good financial behavior. They are short, quick and "a wealth of common sense."
irahelp.com - These are the IRA and other retirement account experts. They frequently write short articles that are educational in nature to help readers learn about a variety of topics.
kitces.com - If you want highly advanced information, this is where you go.
Take a Class
Taking a class could be as formal as attending a class at a local college but could also be something like attending a Dave Ramsey Financial Peace class. The Financial Peace class has helped thousands of people improve their financial picture.
Work With a Professional
Part of the benefit of working with a financial coach is simply what you will learn through the conversations you have. For example, you may learn about a tax idea that not only helps you this year but for several years or even decades. If you are interested in working with a financial coach, you can take the first step today.
Financial education is readily available to those that want to put in the effort to learn. This is one area of education that pays.
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