How to Improve Financial Literacy: Ally Financial Offers Practical Tips
(3BL Media/Justmeans) – Financial literacy aims to boost an average citizen’s ability to manage personal finances more efficiently. It includes the knowledge to make the best possible decisions related to budgeting, investing, tax planning, retirement, paying for college, insurance and real estate.
Ally Financial’s Do It Right, A Community for Your Financial Well-Being has provided some useful tips on improving financial literacy through its blog “How to Get a Financial Education – On Your Terms.” The blog says that a good plan to improve financial literacy should be tailored to financial decisions an individual is currently facing. A wide range of education resources are easily accessible to help people receive a robust financial education.
Financial Literacy Books
Ally’s blog suggests financial literacy books such as GOBankingRates’ list of 31 personal finance books as a thought-starter. One may also check out Liz Weston’s favorite financial books for a recommendation, or search for book reviews on sites like Amazon, GoodReads, and Audible.
Opportunities will vary depending on one’s location, but a few good places to check out are national organizations like the Financial Educators Council or Money Management International as well as the local library.
Free College Courses
A number of open online courses are available for free. USA Today recommends five courses to check out. They range in topics from “Behavioral Finance” to “The Art of Negotiation.”
Many online tutorials and self-guided resources allow students to learn at their own pace, while providing the structure in terms of the curriculum. Ally blog recommends checking out Ally Wallet Wise for free online courses and tools, or similar sites like MyMoney.gov and CNN Money Essentials.
Many people shy away from discussing financial situations with even the closest of friends. But discussing personal finances with a trusted friend could be eye-opening. Friends can learn from each other, share tips, and figure out solutions together.
Source: 3BL Media