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How to Invest in Your Financial Education in 2024
Money Management

How to Invest in Your Financial Education in 2024

You have considered investing your money, but have you considered investing in your financial education? 

Albert Einstein said,

 “You can't solve problems by using the same kind of thinking you used when you created them.” 

Improving yourself financially will require you to elevate your thinking. One of the ways to do that is through education. 

How, then, can you go about investing in your financial education? That is what this article is about.

Read Books on Personal Finance

You can learn about finances from many places, as we shall discuss, but books are one of the primary sources of this information. Finance books are a treasure trove of information you cannot overlook.

Nowadays, you cannot give an excuse for not reading a book since almost every book has an audio version. You can listen to audiobooks if you do not enjoy reading.

Here are five financial books you can read in 2024. 

The Millionaire Next Door by Thomas J. Stanley

The Millionaire Next Door is a personal finance book written in the late 1990s but still holds to date. This is because the book focuses on the fundamentals of accumulating wealth: frugality, disciplined savings, and living below one's means. 

Thomas J. Stanley researched self-made millionaires and derived these lessons from how they went about their lives. This book is a good starting point for the personal finance education journey.

Rich Dad Poor Dad by Robert Kiyosaki

Rich Dad Poor Dad is one of the most popular personal finance books. The book aims to change the mindset of the reader on how they should think about money, debt, and time. 

Kiyosaki draws parallels between his father, a well-learned educator, and his Rich Dad, the father to his friend, not as educated but rich. In his contrasts, he challenges the norm and suggests practical ways of handling money to create wealth. 

This is another book that is great for beginners in finance education.

I Will Teach You To Be Rich by Ramit Sethi

I Will Teach You To Be Rich lessons are higher than the entry-level personal finance learner. Although the concepts in the book are also basic, one should be making money already. 

Ramit’s main argument is you do not have to suffer the frugality that excelling in personal finance needs. He proposes that you choose the things you enjoy and spend money on those and then cut back radically on the other activities you do not fancy.

Sethi’s book is excellent when you find that your money is insufficient to give you the quality of life you want.

The Psychology of Money by Morgan Housel

The Psychology of Money, as the title gives it away, is a book about the relationship between money and human behaviour as influenced by psychological aspects of financial decision-making.

Morgan Housel emphasise the importance of understanding one's financial goals, how emotions influence investment decisions, and explores how luck influences financial success,

The book is hailed for its practicability and insight into our money behavior.

Get Good with Money by Tiffany Aliche

Get Good with Money is a book packed with practical lessons and strategies for budgeting, managing money, saving, and building wealth.

Tiffany Aliche, popularly known as “budgenista,” draws from her experience working with people, helping them achieve financial wholeness.

These are just some books you can start reading this year. There are many more books. Feel free to explore and find a book that addresses where you're at with your finances.

Take Online Courses

To many people, learning about finances is a casual affair. They pick tips from friends, the media, and social media and try to implement them. However, taking a personal finance course may be the way to go if you want more structured and in-depth learning.

Some programs are offered online, while others are offline. A good example of an offline personal finance program is Centonomy. 

Centonomy 101

This program is designed to help individuals adjust their behaviour and cultivate wealth-building behaviours. They provide practical examples and clear instructions that one can follow. As an add-on, you will receive a NITA Certified Personal Finance Certificate upon completing the course.

Nonetheless, if physical classes do not fit with your schedule and you want a free program, you can consider one of the following programs.

Personal Financial Planning

This program by the Personal Finance Academy is designed for personal finance advisors. However, the contents of the course can benefit you if you want to learn about personal finance in detail. Some topics you will learn with this course include Introduction to Financial Planning, Developing a Financial Plan, Cash Flow Management Plan, and Savings and Investment Plan, among others.

Omoka! Personal Finance Management Training in Kenya

Omoka is another personal finance course that trains on key aspects of personal finance, including budgeting, saving, investing, debt management, taxes, and financial planning. The program aims to give you the knowledge and skills that empower you to take charge of your finances.

The program offering is preferably in person. However, they can also offer a blend of in-person and online courses.

There are many other programs out there, it would help you to research to find a program that works for your needs, your availability, and your budget.

Follow Financial Blogs and Websites

Following financial blogs and websites allows one to stay informed on market trends because they provide up-to-date market information and news to help you stay current. A good example is the Money254 Money Weekly article and Newsletter that summarises the week's news that affects your money. Keeping up with Money254 Money Weekly, you will not miss any money news that concerns you.

You also learn about investment strategies shared in the blogs and websites. Most of these are written by financial experts or finance journalists who always share great investment strategies for different people. 

One of the best websites to follow is Money254. Money254 has the best repository of personal finance content. It's content aimed at addressing financial challenges practically faced by Wanjiku, sharing practical tools and ways. Also, consider subscribing to the Money Weekly Newsletter to get curated content to your inbox weekly.

Other blogs you can follow include Zed the Financialist and Enid Kathambi.

Utilize Social Media

You can also utilise social media for your financial education. There are influencers online who share financial information that you can take advantage of. 

However, you have to be careful about who you follow online. Some people pose as experts when they are not. Unfortunately, some even go to the extent of scamming people. Therefore, you must be careful who you consider learning from on social media.

Nonetheless, there are some influencers who are established and can offer a starting place to curate your online finance content. Some of them include MoneyWise with Rina Hicks, Africa’s Pocket by Val Njoroge, and Money Clinic by Amos Ngahu.

You can also join online finance communities. Influencers such as Just Ivy usually run savings challenges that encourage people to save, among other finance-related challenges that can benefit you.

Seek Guidance from Financial Advisors

Learning is the first step toward financial education. Most of the information out there is general since it is not directed to one person. Therefore, you might want to consider working with a financial expert who will curate a personalised plan and application of the financial knowledge out there. This will have much more impact on your finances.

Wrapping Up

It is important that you not only commit to learning more about your finances. After reading the books, taking the courses, reading blogs, websites, and newsletters, and consuming social media, you have to put that into action. Make sure you are applying what you are learning. Start budgeting and sticking with the budget. Make your financial plans and ensure that you are making the plans work.

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Stephen Kimani aka KIMSpeaks is a thought leader, speaker, and writer. He is also the Founder of Living the DREAM. He is passionate about learning and teaching ideas that empower people to improve the quality of their lives. You can connect with Kimani on LinkedIn.

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