Want to get smarter about money but don’t know where to begin? You’re not alone. Whether you’re curious about budgeting, investing, credit, or big-picture financial trends, there’s good news: you don’t need a degree or even a lot of money to start learning.
Thanks to the internet, public libraries, podcasts, and financial professionals, the tools to build your money knowledge are more accessible than ever. This guide will walk you through how to get started, where to find trustworthy information, and how to level up your learning as your goals grow.
Key Takeaways
- There are countless free and low-cost resources available for learning about finance.
- YouTube, podcasts, and financial firm websites are great places to begin.
- Books, libraries, and courses provide deeper learning on specific financial topics.
- Professional financial advisors and free online courses at universities can help you personalize your learning.
- The financial industry is constantly evolving, so your learning journey will never be done.
Start With Video, Podcasts, and Articles
Start your financial learning journey by searching YouTube. The popular video-sharing platform has content on virtually any financial topic you’d like to learn more about, from saving hacks for helping you buy your first car to the pros and cons of buy now, pay later (BNPL) credit services.
Best of all, the content is free and allows you to build upon your knowledge as you go. Also, be sure to check out the thousands of free podcasts that focus on financial-related topics; they are easy to download and often help break down more complex financial concepts.
Warning
Remember that the information you find isn’t specifically tailored to your own financial goals and circumstances, and that the person giving the advice may not be a licensed financial professional.
Check Financial Company Websites
Many financial services firms and mutual fund companies like Fidelity, Vanguard, and Charles Schwab offer free content, tools, and webinars. With just a little effort, you can identify and follow comments from your favorite economists, investment strategists, portfolio managers, and other experts.
Explore Books and Libraries
Don’t forget about old-school ways to build up your financial knowledge, either. The library, your local bookstore, and multiple online retailers offer literally thousands of books on every conceivable financial topic.
From financial history and Wall Street villains to hedge fund analysis and day trading strategies, there’s a book for every topic.
- For a basic introduction to sound financial concepts, you can’t do much better than “The Richest Man in Babylon”. It’s a tiny little book, written in an uncomplicated style. It also captures the wisdom of the ages in an easy-to-follow manner.
- Once you’ve covered that, the famous “For Dummies” series provides insight into everything from budgeting to mutual funds. “Managing Your Money for Dummies” and “Mutual Fund$ for Dummie$” are two titles that will help you expand your knowledge of basic concepts.
As you continue to expand your financial knowledge, you are likely to identify specific areas that you would like to learn more about. Investopedia and similar sites provide access to a wealth of information that helps readers understand financial topics, often with practical, real-world examples. How-to-start investing guides are particularly helpful, as they provide an in-depth look at a wide variety of topics.
Take a Finance Course
Thousands of in-person and online courses are available to help educate you about finance and investing. Many universities offer free or paid online courses that you can take at any time. Whether you’re learning how to invest or diving into corporate finance, formal courses can provide structure and a deeper understanding.
Build on the Basics with Books and Tools
Once you’ve got the fundamentals down, you can move on to more advanced resources.
Next-level books to consider:
- “The Wall Street Journal Guide to Understanding Money & Investing”
- “How to Money: Your Ultimate Visual Guide to the Basics of Finance” by Jean Chatzky: Covers the basics, such as budgeting, credit, investing, and taxes, in an engaging and refreshing tone.
- “Paying for College, 2023” by Kalman Chany: Includes available sources for scholarships and grants, student loan options, and worksheets
When you are ready to learn about equities, Value Line is a great research and publishing firm that provides an introduction into how you can begin to research and analyze stocks. Even if you choose not to conduct your own stock analysis, the website is worth a visit.
Make Financial News a Daily Habit
If you made it this far, you are clearly serious about your endeavor. Now it’s time to make your quest a daily habit.
- Subscribing to The Wall Street Journal will give you a daily overview of the issues impacting global business operations. The Journal also has a great Personal Finance section.
- Barron’s is another respected publication read by many professionals in the financial services industry.
There are many other top-quality publications dedicated to various aspects of the financial services world. Find one that matches your interests, and read it.
Tip
Some libraries provide access to Value Line for free. If your local library does not, then the service is available by subscription.
Talk to Financial Services Professionals
Once you have a solid understanding of the various aspects of the financial services world, it is time to talk to the experts. Financial services professionals make a living with their expertise and can help you learn about everything from managing student debt to finding a suitable mortgage for buying your first house.
Some of these topics are covered in seminars, others in one-on-one consultations. You can even pick up a thing or two just by having an informal conversation. Talk to professionals, such as financial advisors, bankers, accountants, and attorneys. They are often happy to share their general knowledge with those just starting out, especially if you show a keen interest in learning more.
Ready for More?
The CFA Institute, a nonprofit organization that offers education, a code of ethics to follow, and several certification programs (including the chartered financial analyst (CFA) and the Certificate in Investment Performance Measurement (CIPM) designations), provides access to its curriculum.
The CFA program is an extremely well-regarded curriculum. If articles with titles like Investment Performance Measurement: Evaluating and Presenting Results by Philip Lawton and Todd Jankowski capture your interest, then the CFA Institute has a reading list that you are sure to like.
Finance Is Always Evolving
The financial services field is constantly evolving and changing. Recent decades have seen an enhanced regulatory environment after the 2008 financial crisis, the rise of exchange-traded funds (ETFs), and the emergence of digital assets like cryptocurrencies.
Change is par for the course, as the industry adapts to dynamic economic conditions and changes in what investors want and how they wish to deploy their assets. Knowing how to learn about finance is just the start of your financial journey. The ever-changing industry means that you will always have an opportunity to add to your body of knowledge.
Where’s the Best Place Online to Start Learning About Finance?
YouTube and podcasts are great starting points. Type in a topic like “how to build credit” or “investing for beginners” and follow the content that resonates. Books and articles can help deepen your understanding.
What Areas of Finance Should I Learn About?
Start with what’s relevant to your life: budgeting, saving, credit, student loans, stocks, investing, and so forth. As your interests grow, branch into areas like financial planning, real estate, or economics. If you are thinking about a career in finance, think about learning about specific areas you would like to specialize in, such as investment banking or financial planning.
Should I Take a Financial Course?
Taking a financial course can help build upon an area of finance that you would like to learn more about. In some financial fields, you may be required to complete specific courses to obtain a license. If you already work for a financial services company, ask if they provide assistance in paying for a course that is relevant to your job.
Should I Speak to a Financial Advisor?
Even after you have learned about the basics of finance, it’s always a good idea to discuss your goals with a financial advisor who can tailor a course of action to meet your specific needs. They can help point out areas you may have overlooked and suggest other resources to assist in your learning journey.
The Bottom Line
Learning about finance may seem intimidating, but the hardest part is simply getting started. From online videos and podcasts to books and college-level courses, there’s a resource for every interest and skill level.
Start small, stay curious, and don’t be afraid to ask questions or talk to experts. With consistent effort, you’ll build knowledge that will serve you for life.
