5 Ways To Increase Your Financial IQ

1. Books and Magazines
Whether it’s traditionally bound books or digital content, books and
magazines are a great way to grow your financial knowledge.
Books like the “Total Money Makeover” and the “Intelligent
Investor” can educate investors on everything from getting out of
debt to picking winning investment strategies. For a couple of
dollars, you can learn practical tips and techniques that will
improve your finances and benefit you for the rest of your life. You
can also get tips from magazines like Kiplinger’s on topics such as
getting out of debt and how to earn extra income. Reading is a
great way to increase financial literacy for both adults and
children. So, head to your local Barnes & Noble or visit
Amazon.com and start reading!
2. Seminars
Attend a local finance seminar. There are a ton of free financial
seminars that offer a range of helpful hints. You can find these at
your local bank or credit union. There are also seminars at arenas
and convention centers with big name speakers like Suze Orman
or Dave Ramsey . You may be inspired by seeing one of these
personal finance gurus speak in person about everyday financial
problems. These seminars do cost money, of course! Be sure to
stay away from some of the fraudulent “free” promotions at these
seminars; companies sometimes will use high pressure sales
techniques to force you into buying expensive company products.
3. Online Websites
Do you want to learn about personal finance for free? Then be sure
to check out online personal finance websites and blogs. Sites like
Free Money Finance, MoneyNing, and Wise Bread are great online
resources to start. I may be somewhat biased, but Money
Crashers is a great site to start learning the basics as well! There
is a ton of useful money saving tips and reviews of financial
products. Also take a look at finance forums in which you can gain
valuable information from other users. What are you waiting for?
Start googling!
4. Television Shows
I recently wrote a post about the best TV shows for learning about
money . While financial television programs alone will not make
you financially responsible, they can be valuable learning tools.
You can learn quite a bit from the life lessons of other people. I
suggested that television watchers check out Dave Ramsey, Suze
Orman, and Jim Cramer. Money Crashers readers had a great
suggestion and threw out the TV show, Clark Howard of CNN. I
watched a few of his clips and agreed. Take a few minutes each
day and flip to CNBC, Fox Business, Bloomberg, and CNN to learn
while you watch!
5.Smartphone Applications
It may seem ludicrous but your smart phone can help you save
money. In a previous post, Erik detailed some of the top financial
iPhone apps . Apps like Mint.com, Save Benjis, and Shopping List
will help you create a budget and save money on purchases.
What other ways do you know of to increase your financial IQ?