Don’t Go It Alone! Why Financial Education Is Important

Most of us agree that saving and investing are essential. However, we don’t often discuss the concepts of interest rates, compounding interest, risk tolerance, and diversification. Financial education enables you to define your goals and create strategies to reach them. Whether you’re new to money management and unsure where to start or you’ve been investing for a few years but aren’t sure how to maximize your returns, financial education may be the answer.

Online classes and workshops are an excellent way to expand your financial knowledge and prepare for your future. Discover why financial education is essential and explore a few options for learning more.

Key Takeaways

• Financial education involves reading books, watching videos, or enrolling in a financial literacy workshop.
• Financial education is essential for reaching your goals while also maintaining an emergency fund and saving sufficient money for retirement.
• Financial workshops offer an intensive, hands-on learning experience that includes access to a vast amount of information.
• Practicing is one of the best ways to find out which strategies work best for your personal finance goals.
• Financial literacy is an ongoing process that involves regularly reviewing your goals and making necessary adjustments.
• An Infinity Investing membership provides you with access to financial resources, including calculators, videos, and training sessions.

What Is Financial Education?

Financial education is any task that expands your knowledge of personal finance. Depending on your goals and life plans, financial education may cover a wide range of topics, including:

• Reducing debt.
• Budgeting for your household.
• Planning for retirement.
• Investing in real estate.
• Funding savings or emergency accounts.
• Investing in the stock market.
• Planning for college.
• Improving credit.

Why Is Financial Education Important?

Financial education allows you to maintain a comfortable lifestyle, now and in retirement. Your daily financial decisions, including household budgeting and money management, affect your current income and investment opportunities. Certain financial strategies, such as tax planning and asset protection, help you preserve your resources. Retirement planning is essential to ensure you have the funds to live comfortably after you stop working.

Financial education can:

• Guide you in making good financial decisions.
• Ensure you have enough savings for an emergency.
• Help you reach your personal finance goals.
• Assist you in saving enough for large expenses, like a home purchase or wedding.
• Help you plan for retirement, ensuring you have sufficient funds for your lifestyle.
• Protect your assets, making sure your beneficiaries have easy access to them.
• Help you carefully manage debt based on interest rates.
• Assist you in paying down debt faster.
• Diversify risk through multiple investment types.
• Minimize fees and penalties for investing.

8 Ways To Expand Your Financial Knowledge

You can expand your financial knowledge using any of the following strategies:

Enroll in a Workshop

Workshops are a great way to increase your financial acumen while learning hands-on tips for generating passive income and preparing for retirement. Financial workshops are available online and in person, accommodating various learning styles. Because workshops are generally scheduled over a few hours or a full day, they allow you to fully immerse yourself in the lessons.

Infinity Investing workshops connect you with successful financial professionals, including real estate investors who collectively manage millions of dollars in properties. By attending these workshops, you’ll learn aspects such as how to choose the best investment properties, where to place your funds, and how to earn and live off passive income. The Infinity Investing workshops also cover tax liability, helping you prepare for and manage tax expenses.

You can also interact with other workshop attendees and build your professional network. Many workshops are set up to allow you to ask questions, which can be a great way to learn more about finance from industry experts.

Sign Up for a Financial Learning Membership

Financial learning memberships give you access to a database of financial resources. A 360 Pro membership through Infinity Investing connects you to multiple tools and resources to expand your financial literacy. In addition to educational tools, membership helps you explore specific strategies to attain financial freedom. 

One of the best parts of being a 360 Pro member is the exclusive events. If you want to use real estate to increase your wealth, try a virtual Real Estate Room, or visit the Stock Investing Room if you’re interested in the stock market. Workshops geared toward both basic and advanced learners provide options for all participants.

Read Blogs and Books

Blogs are an excellent starting point as you decide which educational resources work best for you. Reviewing free blogs related to finance also makes it easier to learn which topics most appeal to you, allowing you to take notes for further research. 

If you prefer hands-on learning, try a finance workbook, financial magazine, or printed newsletter. With an endless supply of authors and subjects, finance blogs and books allow you to learn about topics such as passive income, real estate investing, stock investing, dividend investing, asset protection, tax planning, and basic finance.

Make Finance a Topic of Discussion

Daily discussions are an excellent way to learn additional tips and tricks while expanding your financial education. Initiating a conversation with friends, family, or colleagues can bring the topic of financial literacy to the forefront. Teaching younger children the basics of saving and investing will give them the tools they need to build important financial skills, and involving them in household budgeting can be beneficial for the whole family.

Networking with other financial students is another great way to expand your skills. Sign up for workshops or share helpful videos with your business partners or family so everyone can benefit from a secure financial future. You can also join a community that shares your interest in expanding your financial education. Infinity Investing for women or multifamily property owners is two excellent options.

Listen to Podcasts or Videos

Podcasts or YouTube videos are good options for auditory and visual learners. You’ll find a lot of video resources online that address some of the most common financial topics, including asset protection, dividend investing, retirement planning, and real estate ownership. You can sign up for a free Infinity Investing membership and get notifications for new educational videos.

You can also use podcasts or videos to supplement your financial education. After you learn about new topics through workshops or books, watching a related video can help strengthen your knowledge. Podcasts and YouTube videos often host guest speakers, giving you a unique perspective on a given topic.

Practice

Putting what you learn into practice helps you determine what works and what doesn’t in your unique financial situation. Create a household budget that includes investing and retirement planning. Return to the monthly budget to determine how well you did and what still needs improvement. Become familiar with different finance calculators to help you assess your monthly income and compare it to your retirement goals.

Make sure to request your free annual credit report and use it to pinpoint specific areas for improvement. Review your retirement and savings accounts to ensure they’re still profitable. You can also write down your financial goals and create a list of short- and long-term strategies to reach them. Set aside time each week to make progress on these tasks.

Ask Questions

The more you expand your financial education, the more likely it will be that you have additional questions. When you watch videos and dive into real estate investing blogs, make a list of questions. As you expand your financial knowledge, these questions will be a great starting point for additional learning and can help you choose which workshops or investing groups to join.

Consult with a Financial Advisor

Meeting with a financial advisor allows you to ask questions and create a personalized strategy. Your financial plans should be designed around your goals, and what works for one person may not work for you.

Financial education is important when it comes to investing and planning for the future. Regardless of whether you’re new to money management or have been investing for years, most people can benefit from increased financial literacy. Sign up for a financial education workshop or a 360 Pro membership today to take the first step toward financial freedom.