Have you ever wondered what the percentage of financially literate people in our population is?
Sure, most people seem to be earning a good amount of money every month,
but in the real sense have nothing truly tangible to show for it. That's because a good number of us
have masked our financial illiteracy with fancy jobs. In a bid to change up this narrative,
in todays video, practical wisdom has listed down some places anyone can find financial knowledge if
they ever need it. So stay tuned to find out the orthodox and unorthodox places we came up with.
Number 1. School To start us off we will
suggest the most orthodox places you could find any type of knowledge. Schools as institutions,
have offered an array of knowledge for centuries now. Even though initially many didn't see the
need to teach people about financial literacy, they are warming up to the idea and a good
number offer financial courses now. You could do a quick search for some of the schools that offer
financial education in your area. The good thing about enrolling for a financial course in school
is you get the benefit of direct interaction and guidance from a lecturer. Who can help navigate
you through your journey one on one. Also, this kind of source offers a bit more of a structured
learning opportunity because they usually start from point A-Z. The good part is that even though
you'll need to have the cash to pay for this course some institutions do offer them for free.
Number 2. Books Dr. T.P Chia,
once said books are the passport to all kinds of knowledge, intelligence,
and wisdom. It’s should be no surprise that books are the second on our suggestion list
of places you could get financial education. But only if you're dedicated, this means that
you'll have to set up at least 1 or 2 hours every single day to enjoy a financial book.
The more consistent you are, the better your chances are at learning a thing or two.
I'd like to give you a list of my personal list of books that got me ahead in my financial journey,
but I'll leave that to the experts. Simply look through your search engine to find
lists of financial books suggested by scholars, the rich, or even lecturers.
On the downside, however, you'll have to be your own teacher
if you decide to go with the books. You'll need to create a schedule,
teach, test, grade yourself to see whether or not you're moving in the right direction.
Number 3. Newsletters When it comes to subscriptions,
we can't deny we all have more than enough to fill a whole basket or even two. But if you want
to move further in life financially, you have to ditch all those movie screening subscriptions;
or trade them in for more meaningful ones like financial newsletters. And because anyone with
a phone can whip up some articles giving financial advice, you have to be very keen
on who you listen to. The best advice comes from professionals in their area of expertise.
Some newsletters come with free books and articles that target different specs of finances. With this
form of education, you're more flexible to change and progress upwards in your journey.
As for the cons, well basically there are a lot of hearsay writers with no
proper credentials whatsoever, so stay alert!
Number 4. Social Media Social media has become the hub of
everything in today's society. You can sell, buy, teach and learn through this platform very easily.
And you'd be a fool not to take advantage of such channels. From Instagram, you could
explore for people who are like-minded as you. Others have even formed groups through whatsapp,
messenger and Facebook where they share financial knowledge. They have proved to be such great
sources of financial education. Another great social media platform has been YouTube. Where a
good number of financial YouTubers have created an environment where anyone can have access
to financial education. Be It personal finances, budgeting, investment, business finances and more,
you can't miss what you're looking for on YouTube. Just like our channel where we provide you with
amazing financial content every other day. Number 5. Podcast
Because the internet gods were merciful to us, a guru somewhere came up with podcasts.
And those of us who are too lazy to read through a whole book in hours, are eternally grateful.
I'd like to believe that podcasts were specially made for people who has to work long shifts,
and still live a life, to get spare time to read a book. As long as you have an internet connection,
you can learn on the go or even in between coffee breaks. My biggest advice would be
that it's important that you avoid the trap of just hearing what the speaker is saying
to you through your earphones but instead, truly hear their words.
Think of podcasts as sessions with your therapist. Where you have to be present in
order to get the benefit of all those sessions. Number 6. Magazines and online publishers
Financial knowledge is everywhere, but only those who seek it will truly get it. Magazines
and online publishers have more than gossip and trends, because from the very same sources you
can enlighten your financial education. Bearing in mind the importance of having financial education,
many people who don’t prefer bulking finance books flourish their knowledge from magazines.
It might seem obvious that books are way more resourceful on financial knowledge than magazines,
but given the right financial magazines, they just might be
as important. If you don’t like walking around with bulky magazines and books, you can as well,
learn a thing or two from the online publishers. Besides Kiplinger and the financial times,
there are a ton of efficient personal bloggers who deliver important information on the same.
Number 7. Group forums
My teacher once said if you want the best advice ask, it from a wise man.
I bet you'll get about ten times better advice when you pull together a group of wise folks.
That's why group forums are believed to be the best source of financial education out there.
These forums provide a conducive environment for brilliant ideas to be shared and acted upon. No
matter how small the forum, ten people can benefit greatly from the information shared by one or two
financially literate speakers. Think of it like a book club, each person can take turns picking a
topic and everyone is tasked with finding out as much about it as possible. After which you have
a forum and discuss what you learned. This will challenge each person to think outside the box.
This can also be a really good way to get kids to learn about finances at a young age. You could
even spice it up by doing a whole financial capital asset pricing model (capm) or debate.
Number 8. Apps
With the Zen generation, so much has changed especially for the 80's and 90's kids. Things
like we have on the internet have taken not only interactions to the next level but also education.
There have been app startups on basically everything. They're like the new robots or
something. Which means that you could find a couple of apps on play store or apple store
that offer financial education. This means you don't have to go to a class when you can learn
on your phone. Just download a financial education app like zogo, mint or, you
need a budget. You won't believe how effortless getting a financial educator is after doing so!
Number 9. Banks Who would be a better
source of financial knowledge if not the one who prints out currency. It's obvious that they'd have
crucial information on financial knowledge. They could open up your eyes to the options you have on
savings and investments. You just walk into your registered bank or whichever bank you're eyeing,
go to the customer care desk. From there you'll get all the information that you need or will
be redirected to a financial consultant. Because it's only the chef who can let
you in on the secret ingredient they use, banks are the best sources of financial information.
It doesn't matter what age you are, their most important requirement is that you're ready to
take the first step. After which they'll find you the best person within their institution to
hold your hand. You also don't have to worry about being conned out of your money as long as you keep
all transactions transparent. Number 10. Mentors
If you still subscribe to the classical old fashion way of acquiring your knowledge,
then you'd be a fool not to be jumping on the mentorship bandwagon. Basically, a mentor of
finance should be one who's already taken the steps you'd wish to take in your financial life.
They've tried and tested almost every trick in the book. Which is an asset worth the time
and effort to build. Also consider someone you actually have a good interaction with,
and they can see your vision from your point of view. Do not pick friends to be
your mentors as it becomes harder for them to call you out when you're out of line
and you'll need that a lot. By doing so, you'll be able to move up the financial ladder faster
without giving up your own authenticity. They'll help stir the wheel with you
towards the right direction and on to the finish line which is financial freedom.
Number 11. Family People say that the beginning of good
manners always starts from home. There's also no better place to strengthen roots like at a home.
And the greatest source of life lessons children learn are from their parents. Think about the most
essential life skills like brushing your teeth, being taught the importance of savings, who do you
think taught you those? I'd credit my mother for the job well done in making sure I'm a pleasant
human to be around, even my charms come from her. But ultimately, my father molded into who
I am today. He was very much like "the rich dad" in Robert Kiyosaki's book the rich dad poor dad.
Because he opened up his financial life to us at a very tender age. Over the weekend before shooting
some hoops at the end of the month we'd come up with a monthly budget which we worked around.
He was very open about investments and savings and during vacations he'd show us how the smart
financial work paid off. I don't think I've looked at money the same way since I was 12. That's why
for me family is the greatest source of any and all financial education in a person's life.
I hope you learned a thing or two and will take the chance and learn and grow your financial
knowledge. Just ten people could change the statistics of the world's financial literacy.
I hope you're going to be the 1% that brings about those changes. If you're afraid that
these are untested theories, I'd like to ask if you know the story of how Warren Buffet
became one of the richest men in the world. Also remember the renown Robert Kiyosaki I believe that
his family specifically his two fathers helped him get ahead financially. These aren't just miracles.
They’re tried and tested methodologies that actual people used and they worked to their benefit.
So, thank you all so much for watching, and before you go, remember to subscribe to the channel,
and leave a like for that YouTube algorithm. With that being said,
have a great day and see you all in the next one!