Getting financially educated on a tight budget

Pinch hitting for me today is BHB mentee Anton Ivanov, an aspiring financial writer, a successful investor and a zealous entrepreneur. He is extremely passionate about helping others become financially independent and shares his financial knowledge at Dreams Cash True. You can follow his updates on Twitter, RSS or Facebook. 

Chances are you came to this blog in hopes of learning how to better manage your finances (and to have some fun along the way!)(Jana’s note: emphasis on fun. Fun comes first. Learning is tucked inside the fun. I’m clever like that). Many of us understand the importance of money and the need to get financially educated. Unfortunately, finance is barely taught in public schools. It’s possible to graduate high school and even college without learning much about making smart financial decisions.

A lack of a financial education can be a recipe for disaster because money management skills are essential for a successful life. At the same time, pursing a college education in business or finance can be expensive! Fortunately, there are 4 great ways to get a financial education without running your wallet dry: the internet, television, books and free classes.

The Internet

Believe it or not, but the internet is not just for checking Facebook 20 times a day and watching funny cat videos (Jana’s note: It’s not. Seriously. Reading Buzz Feed comes way before Facebook and cat videos). It’s a wonderful place to get financial knowledge for free (not counting your Internet bill, which you already pay anyway).

Finance blogs are a great start – they offer many personal finance and investing tips from people just like you. With so many blogs out there, you are sure to find an author who writes about the exact same financial problems you are facing. Plus, they can be both entertaining and educational to read.

There are many other websites that offer tons of free finance knowledge. Huge knowledge databases, such as Investopedia, offer free articles, dictionaries, various calculators and tools. Or you may want to check out some financial forums if you prefer to interact and discuss things with others.

Good Ol’ TV

Yes, it may be hard to change the channel when your favorite TV show is on. But since many of us spend so much time in front of the TV anyway, why not make that time at least a little productive?

There are many TV programs and channels that will teach you about money. They are likely already included in your cable plan and won’t cost you a penny. Check your TV guide for Mad Money and Squawk Box on CNBC, Taking Stock on Bloomberg TV or watch CNN and Fox for regular business and finance news (Jana’s note: I prefer quality programming like any show hosted by Gail Vaz-Oxlade or Extreme Couponing on TLC. Only high brow stuff for this chick).

Books

I like to take a break from staring at computer and television screens once in a while, and maybe you do as well. A great pastime is reading books – not only can it relieve stress, but it can teach you everything you ever wanted to know about money and finance.

There are many awesome finance books that cover a wide range of topics. It doesn’t matter if you a financial expert or a complete beginner – you are guaranteed to find a book that will be useful to you. You can buy most paperback editions for less than $20, get them even cheaper for e-book readers, or get them free from your local library. You can find a great list of finance books to start with here.

Free Classes

While it’s not common, some colleges, unemployment centers and non-profit organizations offer free finance classes. They can be a perfect opportunity if you prefer a traditional classroom setting and like to interact with other students (Jana’s note: some offer online classes as well. We have a nonprofit in my state that has both traditional classes and online ones but the online classes aren’t as heavily advertised. You have to carefully read the booklet and, ironically enough, the website, to find that out).

Check the websites of your local colleges, universities, unemployment centers or other non-profit organizations for any upcoming classes. They tend to fill up quickly, so register early! Even though you won’t be paying tuition, you may have to buy the textbooks, so be sure to read the details in the course description.

And there you have it! Forget expensive college degrees – next time you are looking for some financial wisdom, you know where to find it.