Are there platforms one could visit daily to boost their financial literacy and build wealth? Yes! We will show you some of them in this guide.
Everyone deserves to know the financial market works. From learning about stock trading to gold investment and EFTs, you need to have some financial knowledge. Interestingly, financial literacy doesn’t stop at those, as it also covers debt, loans and how to make investments.
If you have desired to learn more about finances, especially as it pertains to managing your money, we will be glad to help. In this article, we detailed the top seven (7) platforms you may want to check out in 2023 to master your finances.
What is Financial Literacy?
It is the ability to decipher how finances or money works in general. With the knowledge of this, any individual can make sound decisions on how best to invest money, save money and manage debts.
Here is a list of the top websites or platforms we believe will help you become financially-literate:
1. Financial Aid
The best time to start seeking financial literacy is at a young age. The story has been told many times of how Warren Buffet began investing on time and many of his investment principles are long-term. So, if you learn about finances on time, it should help you start on time and live a financial stress-free life as you age.
Thus, students stand a better chance at becoming financially-literate and there is a platform that would help them get better at that. The name is Financial Aid.
According to the information on the website, “Financial Aid helps students and their families pay for college.” This is one of the best platforms that will open your eyes to the financial opportunities that come with paying your tuition, transportation and accommodation.
Here are some of the benefits of using this platform:
Loan Consolidation
You will learn more about how to consolidate your loans, especially if you have a hard time paying back as and when due.
Financial Aid has a product called the Loan Consolidation Calculator. It helps students to compare the interest rates, the monthly payments and the overall costs of their current loans with the specifications of the consolidated loan options.
FAFSA
The Free Application for Federal Student Aid (FAFSA) is a yearly financial aid for college students. You can learn more about how it works and the eligibility options.
2. Banzai
This is one of the best financial literacy platforms targeted at students, especially students in both the middle and high schools.
The outstanding attribute of Banzai is that it is a personal platform that helps the students cum users to get real-time, customized financial solutions.
From the website, we could see that the following financial tools are available:
Banzai Library
This is a dedicated online library of courses and relevant materials that helps students get better at:
- Using the 50/30/20 financial rule
- How to use credit cards for payments.
Financial Curriculum
This is a dedicated curriculum that helps students to become better financial planners. As a student, you will get access to interactive courses that teach you the basics of:
- Debt
- Savings
- Budgeting
3. GCF Learn Free
You can learn about finances almost for free when using the GCF Learn Free platform. The platform contains materials on virtually all aspects of finances, including but not limited to budgeting and savings.
We like the following features best:
- The platform makes most of the learning material in the form of tutorials to walk you through the learning processes faster.
- The curriculum is constantly updated, as per the latest trends in the financial markets.
- GCF Learn Free also sets quizzes for the users to test their comprehension of the tutorials.
4. Ramsey Solutions
Founded by Dave Ramsey sometime in 1992, Ramsey Solutions has become one of the best financial literacy platforms one can turn to.
Dave Ramsey made it into an online resource where people from different parts of the world can access content on different aspects of finances.
Whether you are looking to learn how to save money, how to partition your budgets, invest your money or hedge against inflations, you can be sure to find the resources on this site.
We would like to highlight some of the outstanding financial education resources on the platform:
EveryDollar
With the tagline, “tell your money where to go,” EveryDollar is a dedicated resource that helps you make better investment decisions.
By using it, you can track your expenses, see where you spend the most money and be able to settle your recurring bills on time all from one mobile application.
14-Day Money Finder
This free tool helps you to learn how to grow your income every month. It also keeps you on your toes to actualize that goal with daily emails and notifications on the next steps to take.
College Savings Calculator
This is dedicated college students who are looking to gain financial literacy. With the College Savings Calculator, you get to determine how much to save for the duration of your college education.
5. Yahoo! Finance Education
Yahoo, one of the leading Search Engines, also has a resource for financial literacy. It is called the Yahoo! Finance Education.
Here are reasons why it is reliable:
- The platform teaches the basics of finances, such as personal finance options, budgeting and savings.
- You will also have access to the latest financial news and materials, especially from reliable platforms like Wall Street Journal.
6. How The Market Works
Sometimes, a bulk of your financial decisions are influenced by what happens in the market. When stocks begin to crash, people panic and want to withdraw their funds. Likewise, when the financial market picks up, people tend to invest more money.
To make a better prediction of the forex market, you need to gain financial literacy from one these platforms. The platform called How The Market Works is what you need to get started.
It is ideal for students who want to learn about:
- Stocks
- Bonds
- ETFs and;
- Mutual funds
7. The Motley Fool
Tom and David Gardner, two brothers who are passionate about inspiring the world about financial literacy founded The Motley Fool.
The Motley Fool is one of the platforms thousands of people visit to boost their financial literacy. On this platform, they learn a couple of things about how to get better at their finances.
At the core of the financial resources on The Motley Fool are:
- Broker Guide: this shows you where to find brokers in your location.
- Investing advice
- Financial news and guides
Wrapping Up
Becoming financially-literate does come at some expense. From spending time and money to losing a couple of money in the process, it is a path many people don’t want to take. But if you can use one or more of the platforms in this article, you can be sure to make less mistakes as you attain the highest levels of financial literacy.
