In times of economic volatility, such as the current downturn from the coronavirus pandemic, many people begin to question whether they are financially prepared and able to manage their money well.
Some may figure out how to budget for the first time, especially if they are worried about lose their job. Others may find themselves trying to figure out how save their savings, investments and other assets.
Making these kinds of decisions requires a bit of financial know-how. But it can be overwhelming if you are new to money management. To help you get started, CNBC Make It has put together five free educational resources that will help you build wealth, learn to invest, understand life insurance, navigate retirement savings, and more.
It is important to note that these courses are not intended to replace professional financial assistance. It is a good idea to consult a Financial Advisor with all the big questions before making any big financial decisions.
1. “Rich future” by Planancial
Planancer is an online source for personal finance courses created by Barbara Ginty, a certified financial planner and host of the “Future Rich” podcast. âFuture Rich,â Planancial’s signature class, features seven days of quick, seven-minute videos paired with a workbook that reinforces key points and strategies. The course is taught by Ginty herself, who started her career on Wall Street before becoming CFP.
The course is designed to be a fun learning experience and allows you to go at your own pace. You can start and stop the course whenever you want.
2. âIntroduction to Life Insurance and Retirement Savingsâ by Alison
As the title promises, this Online course of the education society Alison provides an overview of the different types of life insurance and retirement savings plans. Throughout the video modules, you will learn the differences between whole and term life insurance, traditional IRAs versus Roth IRAs, and the tax implications of various types of retirement funds.
Over 6,000 students have registered for this course, giving it a 4.4 out of 5 star rating. And not only is it free, it’s fast: it should take between one and two hours.
3. âMoney Skillsâ by MRUniversity
If you are not sure whether to invest or wondering when to rent or buy, MRUniversity “Money skills” course can help. This video course includes 10 videos and exercises led by Tyler Cowen and Alex Tabarrok, both professors of economics at George Mason University. No prior knowledge is required, making it a good option for beginners.
4. âMy Financial Mountain: Understanding Your Path to a Strong Financial Foundationâ by Skillshare
the “My Financial Mountain” Classes, offered through the Skillshare e-learning platform, is aimed at anyone who wants to learn a realistic approach to money management. He walks students through everything from managing debt to budgeting to understanding how credit works.
The class consists of 13 lessons, each lasting a few minutes, and is taught by Julio Lara, a Certified Skillshare teacher.