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Friday November 24th 2017

Get Financially Literate for Free

When an individual wants to become financially literate and he doesn’t have any money to do it, he can find several proven ways to obtain this invaluable knowledge for free. This is one of those rare moments when free and convenient meet in the same place.

Take Free Online Personal Finance Courses

There is a plethora of major universities and colleges including Yale, Rutgers and Utah State who offer online financial courses for free to anyone who simply logs onto their educational sites. Some of these courses are basic and consist of only one study module, while others teach aspiring students the most advanced aspects of finance, economics, taxes, accounting, and government financial regulations that anyone could ever wish to learn about.

The more advanced courses require studying online for between several weeks to a couple of months while the beginning courses can be mastered in a a matter of hours or only a day or two. No matter what the level of intensity of the financial education being offered for free online, these are exceptional opportunities for people of all ages to learn the ins and outs of the complex but fascinating world of finance.

Study Free Internet Financial Websites

Sites such as CNN and MSNBC online as well as Money magazine and Forbes all offer free online financial instruction on their websites. Fledgling students can learn related finance topics such as business administration, how to start up a small business, the tax advantages of forming a corporation, macro and microeconomic principles and fundamentals of investment management. Some of this free material goes so far as to teach online students information that top mutual fund and hedge fund managers actually know.

They really go into depth and don’t hold back. As long as the online student is willing to learn and absorb the financial information, it’s all here for him. It’s great for teens, college students, parents, and even grandparents who all desire to learn more about the intricate and fascinating financial world. Many of these sites offer these free learning opportunities as an academic adjunct to what readers of their print version magazines can learn or what viewers of their cable and satellite TV stations can learn if they watch consistently. The free information also helps build up potential readers and TV station subscribers as well.

Read Finance Books from Local Library

Despite the ever present Internet and it’s boundless array of financial information, ambitious individuals of financial informational learning shouldn’t overlook the absolutely free resources of their local, public libraries. The nonfiction stacks have shelf after shelf of both older and up-to-date books on finance. Many are second third, and fourth editions since they’ve become so popular over the many years they’ve been in print. These may be college textbooks or consumer trade versions.

They can be read in the library or taken out to be read in the comfort of one’s own home. It’s all up to the individual financial learner. And with libraries, these books can be renewed again and again if the initial information is not fully absorbed the first or second time before the due date when it needs to be returned. But the amount of free financial information here is simply overwhelming.


Financial Education and the American Student

Finances are a sore subject for a good majority of Americans. Full grown adults have little clue how to handle their finances on a daily. This is a contributing factor to the slugging economy we are faced with today. The problem can be relieved through simple education. In fact, public and private school systems across the country have begun mandatory financial education in high school in the hopes that more of the next generation will become financially conscious as they grow into adults.

Financial Education Programs

This is not a new concept. Some states have been implementing mandatory financial education for a number of years and more are joining the list each year. In 2007 a survey indicated that seventeen states required their high school students to take a mandatory economics class in order to graduate. A recent survey has found that now twenty-one states require an economics course in high school. The number of states requiring a personal finance courses has increased from seven to thirteen. Thirty-four states now have personal finance content standards. This is up from twenty-eight. Five states now require an entrepreneurship course in order to graduate as well.

Why Aren’t Kids Learning?

All this extra education doesn’t seem to be working though. Financial literary test scores have not increased in the last decade. The reason why kids are having a hard time learning the content is unclear. Many people believe that the children are fully capable of understanding the material; educators are simply unable to teach it well. Only thirty-seven percent of teachers can even say they understand the material. This is the ratio of teachers who have taken even one personal finance course in college. Only twelve percent of teachers have even bothered to take a course on how to teach personal finance to kids.

The general consensus is that teachers are more concerned with their own financial conditions rather than teaching their students. Most teachers did not get into teaching for the purpose of teaching kids how to balance their checkbooks. They have little desire to teach finance to their students.

Take Responsibility for Your Child’s Education

Our education system has been falling behind for years. It is no secret that we are far from the best country in education. Fifteen year old students were out performed and scored lower than twenty-three other countries and education systems in mathematics. The same students ranked nineteenth out of sixty-five in science. Studies have shown that the average American kid is at the bottom of the barrel in terms of received education not just in finance but across the board. The education system is failing our children. As parents, it is up to us to teach our kids about personal finance. Otherwise, they may fall victim to the same poor financial practices that plague our generation.