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6 Ways to Improve Your Financial Education


No matter how old we get, the fall season will always bring “back to school” vibes! While we may not be in school anymore, the learning never stops. One area of education that should always be improving is financial education. Because there are always new goals to hit, there are always new strategies and insights to learn.

In the spirit of returning back to school, let’s put some focus on improving our financial education! Check out 6 ways to improve your financial education. Take each tip one at a time, or double up to get even more growth!

6 Ways to Improve Your Financial Education

#1 Take online courses related to money

Just because we’re not in college or grade school anymore doesn’t mean we can’t take classes! There are so many amazing online courses out there related to money. One of the most popular is Dave Ramsey’s Financial Peace University. Even CGS has its own online course: Money Management Mastery for Working Women!

Because there are a lot of online courses to choose from, get specific with exactly what you’re looking for. Do you need hand-holding? If so, then a course with live coaching may be more useful. Do you need a course that you can start and stop whenever you want? Find a course that can be accessed anytime.

Also, think about the budget you have for the course. Some courses are free, others are low-cost and some will be expensive. When you know what you want out of the online course, you can justify whatever price point you need to pay to get exactly what you want.

#2 Work with a money coach

Think of a money coach as a personal trainer for your finances. Having that guidance, support, and accountability to make the right decisions with your money is priceless. It’s also a great way to improve on your own financial education. 

Working with a money coach gives you direct insight into an expert or teacher’s point of view. You can ask questions, make the lessons relatable to your situation, and use your coach to help you change how you think about money.

Just like there are a variety of online courses on money, there are a variety of money coaches out there. To help you narrow down what you need, get clear on what area you want to improve in with your money. Investing and building wealth? Paying down debt? Budgeting and money management? When you know what you need, you can seek out the right coach for you.

Schedule a free financial focus call with me if you need some guidance pinpointing your financial areas of opportunity!

#3 Vow to read more personal finance books

Textbooks are an important part of education for a reason! Reading can help you learn new things or expand on things you already do know. With that being said, reading more personal finance books can help you improve your own financial understanding and literacy. 

Fortunately, personal finance books come in the form of physical or audiobooks. That means you can ingest information in a way that will stick! When you decide on the type of books you want to consume, seek out personal finance books. Check out the 5 books that changed how I handle money for a few good options to get you started.

#4 Take the time to talk finances with other people

It’s a sad fact that talking about money is still considered taboo in our society. All that means is we need to be comfortable with bringing up the topic to other people. Start with your friends and family – ask about their money goals, budget plans, or ideas on saving money.

When you take the time to talk about finances with other people you open the door to new perspectives. You also get to hear what does or doesn’t work for other people, and you can use that to your advantage in your own situation.

The initial conversations may be difficult or nerve-wracking, but all that means is you’re doing the right thing. It will get easier to have conversations about money the more you have them. If you don’t want to start with people you know, go online and get the conversation going.

#5 Monitor your spending for 30 days straight

There’s no better insight into your own finances than by tracking your spending. If you’ve never taken the time to monitor where your money goes, I challenge you to track your spending for 30 days. Every time you spend money, write it down or put it into a spreadsheet.

After 30 days, look over your information. Where did your money go? Are there changes you can make to improve your situation? What can you cut back on for the next month? When you give yourself access to your spending behavior, you can start adjusting and improving that behavior. Financial education isn’t about what others teach you, but what you teach yourself about money!

#6 Read biographies of successful people

What better way to learn about success than from people who’ve achieved it? I love hearing the stories of people who are where I want to be in the future. I’m aware that everybody’s journey will look different, but having insight into how successful people achieved their success is priceless!

You can take insights and apply it to your situation. You can also use that insight to help you make decisions you hadn’t previously thought about. Biographies are a great way to glean that insight into how people lived their lives as they worked towards the success they have today.

Related: 12 Steps to Improve Your Financial Wellness

Even small steps in the right direction can lead to major progress! Each of the tips above can help you expand on your financial education and become a more financially-conscious individual! Don’t forget to spread the word and help others grow too! How do you prioritize your financial education? Do you have any tips to share? Post a comment below to get the discussion going!

-Raya
The CGS Team

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