I’m a firm believer that education is the key to financial independence (#FI). Fortunately, there are free personal finance courses available to us all. Why pay Dave Ramsey $130 for Ramsey Solutions’ Financial Peace University or $54 for Suze Orman’s Personal Finance Online Course when you can get similar educational information for free?
Dave Ramsey has financial counselors throughout the country teaching money-management classes through Financial Peace University. I’m sure he is making a fortune. Good for him and his wallet; good for yours? No doubt, the information is helpful to many. But, why pay for it when you can easily educate yourself for free?
Suze Orman, another financial expert more than willing to take your hard-earned money, offers a personal finance course that includes downloadable lessons. Topics such as paying off debt, life insurance products to buy and ways to invest for retirement are included. However, Orman critics often say that her advice is too generalized and unrealistic for many. If you’re struggling paycheck to paycheck, you can benefit from the free personal finance courses before paying others for general advice.
Helpful to Understand
Note that some things you’ll learn from a free personal finance course may not be applicable to you or appropriate for your current financial situation. For example, my wife and I have a Solo 401(k) which helps us save significantly more for retirement while reducing our current tax liability. Is this retirement investment vehicle right for you? It may be, but only if you own your own company and you meet the employee and other requirements.
Also note, we recently hired a financial adviser (true fiduciary, fee only based) and recommend others consider doing so as well. At least, it is well worth the fee for us given we now have more investments to manage. The advice helps us improve our retirement planning and our future taxes in retirement, both of which will more than cover the fee for the financial advice.
Free Personal Finance Courses
Since I obtained my M.S. degree from the University of Florida, the first course listed is from UF (Go Gators!). Also, it is a great course based on the reviews.
University of Florida – Personal and Family Financial Planning: This free personal finance course covers many critical personal financial management topics. It helps you learn prudent financial habits both while in school and throughout your lifetime. Created by the University of Florida, this course is for people of any age. It covers the basics, investing, managing risk, and building your own personal finance plan.
edX Personal Finance Course Listing: This is an excellent resource which lists free online courses in personal finance from top schools. Choose from many free personal financial and accounting courses.
Brigham Young University (BYU) Personal Finance Course (free): BYU’s free online personal finance course offers beginner, intermediate and advanced courses. The classes include videos and money-management assignments via a DIY approach. Topics covered include: achieving financial independence, saving strategies, stock basics and tips for achieving your long-term financial goals.
BYU – Personal and Family Finance (PFIN 070): Marriott School of Management: Personal Finance: You begin with the MoneyWise workshop lessons to help you understand basic financial principles; learn to live within your means, get out of debt, and save for long-term goals.
Learning the fundamentals of personal finance helps us all build a better future and mitigate the risk of financial failure. Taking a few free personal finance courses helps us reach financial independence sooner rather than later. Bottom line, the courses help us make better decisions when it comes to money. Learning and building wealth is fun; enjoy!
12 Free Personal Finance Courses to Master Your Money (January 2019)
Personal Capital Online Financial Software (free): I use the free version of Personal Capital software and I really like it. You can easily track your net worth and budget based on your actual expenses. The online platform also provides financial planning tips for your specific investments, savings, and so on. You can ignore the messages to speak with one of their financial planners or retain one, if the need arises.