What online courses can help me improve my financial literacy

Okay, so I’m really bad with money. Like, really bad. I’m in my late 20s and I still haven’t figured out budgeting, investing is a complete mystery, and I’m pretty sure my credit score is just…sad. I’d like to actually start building a solid financial foundation for my future.

I’m looking for online courses, preferably self-paced, that can help me understand the basics of personal finance. I need something that starts with the fundamentals – like, what is a budget, why is credit important, and how do I even begin saving? Ideally, the courses would be practical and provide actionable steps I can take to improve my situation.

I’m not looking to become a financial advisor or anything, just want to be able to manage my money responsibly and make informed decisions. Free courses would be amazing, but I’m willing to pay for a quality course if it’s worth it and teaches me what I need to know. Also, a course that has some kind of community or forum where I can ask questions would be a big plus! What are some good options out there for someone at my level?

Answer

Many online courses can help improve your financial literacy, catering to different levels of knowledge and specific areas of interest. Here is a breakdown of options, categorized by provider and topic:

I. Reputable Educational Platforms (Universities & Institutions):

• Coursera: Offers a wide variety of financial literacy courses from universities around the world.

  • Examples:
    • "Financial Markets" (Yale University): A broad overview of the principles underlying the operation of securities, insurance, and banking industries. Covers risk management, behavioral finance, and the structure of financial institutions.
    • "Personal & Family Financial Planning" (University of Florida): Teaches how to create a financial plan, manage debt, save for retirement, and invest wisely.
    • "Finance for Everyone: Smart Tools for Decision-Making" (University of Michigan): Focuses on using financial tools to make better decisions in both personal and professional contexts, including time value of money, risk analysis, and valuation.
  • Key Features: Often offers certificates upon completion, may have graded assignments, and provides a structured learning environment. Some courses are free to audit, but require payment for a certificate.

• edX: Another platform with courses from top universities.

  • Examples:
    • "Financial Accounting" (Harvard Business School): Introduces the fundamentals of financial accounting, covering balance sheets, income statements, and cash flow statements.
    • "Corporate Finance" (Columbia University): Focuses on financial decision-making within corporations, including investment decisions, financing decisions, and dividend policy.
  • Key Features: Similar to Coursera in terms of structure, certificates, and pricing models.

• Khan Academy: Provides free educational resources, including comprehensive financial literacy materials.

  • Examples:
    • "Personal Finance": Covers topics such as budgeting, saving, debt management, credit scores, investing, and retirement planning.
  • Key Features: Completely free, self-paced, and accessible to all. Excellent for beginners.
• MIT OpenCourseware: Offers free access to course materials from MIT, including finance courses.
  • Examples:
    • While not specifically designed as financial literacy courses, materials from introductory finance courses (e.g., "Principles of Finance") can provide a solid foundation in financial concepts.
  • Key Features: Free access to lecture notes, assignments, and exams. Requires self-discipline and initiative to learn.

II. Financial Institutions & Non-Profit Organizations:

• Investopedia: Offers a variety of articles, tutorials, and courses on financial topics.

  • Examples: Courses cover investing basics, personal finance, and trading strategies.
  • Key Features: Offers both free and paid content. Focuses on practical advice and definitions of financial terms.

• Practical Money Skills: (Visa) Provides free educational resources and tools for personal finance.

  • Examples: Offers interactive tutorials, articles, and lesson plans on various financial topics.
  • Key Features: Designed for educators and individuals. Provides a comprehensive and easy-to-understand approach to financial literacy.

• The JumpStart Coalition for Personal Financial Literacy: A non-profit organization that provides resources and advocacy for financial literacy education. Their website offers links to various financial literacy resources.

• Financial Industry Regulatory Authority (FINRA): Offers free resources and tools to help investors make informed decisions.

III. Specialized Platforms and Companies:

• Skillshare: Offers courses taught by industry professionals on a variety of creative and business topics, including personal finance.

  • Examples: Courses covering budgeting, investing, and side hustles.
  • Key Features: Subscription-based model, allows access to a wide range of courses.
• Udemy: A marketplace for online courses, including numerous financial literacy courses.
  • Examples: Covers topics like personal finance, investing, real estate, and cryptocurrency.
  • Key Features: Vast selection of courses at varying price points. Reviews and ratings can help you choose a quality course.

IV. Categories of Courses & Topics:

To tailor your learning, consider courses covering these specific areas:

• Personal Finance Basics:

  • Budgeting and Expense Tracking
  • Saving Strategies
  • Debt Management (Credit Cards, Loans)
  • Credit Scores and Reports

• Investing:

  • Introduction to the Stock Market
  • Bonds and Fixed Income
  • Mutual Funds and ETFs
  • Real Estate Investing
  • Retirement Planning (401(k)s, IRAs)

• Financial Planning:

  • Setting Financial Goals
  • Insurance (Health, Life, Home, Auto)
  • Estate Planning
• Advanced Topics:
  • Financial Accounting
  • Corporate Finance
  • Behavioral Finance
  • Tax Planning

To choose the best online course for you, consider the following:

• Your Current Knowledge Level: Are you a complete beginner or do you have some existing financial knowledge?
• Your Specific Goals: What do you want to learn? Are you trying to create a budget, invest for retirement, or understand financial statements?
• Your Learning Style: Do you prefer self-paced learning or structured courses with assignments and deadlines?
• Your Budget: Are you looking for free courses or are you willing to pay for a premium course with a certificate?
• The Instructor’s Credentials and Experience: Check the instructor’s background to ensure they have the expertise to teach the subject matter.
• Reviews and Ratings: Read reviews from other students to get an idea of the quality of the course.