How to Get a Financial Education on the Cheap

Where did you learn most of what you know about finance, money and investing? Since financial literacy is barely taught in most public schools, many people learn about money from their parents, friends or coworkers. But very often the people who teach know very little themselves.

It is important to understand why financial literacy is so important and find reputable and cheap sources to get a financial education.

Why Do You Need to Be Financially Literate?

We deal with money on a daily basis. We work most of our lives earning and saving it so we can someday retire and live off our passive income. But money can work against you just as easily as it can work for you.

Understanding basic financial concepts such as budgeting, living below your means, saving for emergencies and large upcoming expenses, investing and planning for retirement is very important if you want to be financially successful. Once you learn how money works, you will be able to make it work for you, increase your wealth, retire earlier and create a better life for you and your family.

Getting a Cheap Financial Education

Contrary to what you may think, you don’t need to go to an expensive college or university, attend seminars or buy overpriced training programs to learn how to better manage your money and make smarter financial decisions.

Here is what you can do to learn more about personal finance and investing without spending much or any money at all:

  • Read books. Books are an outstanding source of knowledge on any subject, including finance. They usually offer a comprehensive account of a particular topic from start to finish. There is a book on virtually every financial subject.
  • Follow finance blogs. Blogs are very unique sources of financial education, since they offer financial advice from real people with real problems and real solutions. The authors may not be professional financial advisors (although some are), but share how regular people deal with money problems.
  • Watch money-related TV channels. Watching CNBC or Bloomberg TV is probably not your favorite pastime, but there are tons of great television programs that can teach you about many different financial topics, from making your first budget to creating a diversified retirement portfolio.
  • Attend free classes. Many colleges and universities offer free financial classes on a one-time or regular basis. These classes vary in their content and length, but can nevertheless be very helpful. Check with your local schools, colleges or universities to see if there are any that are coming up in your area.

You should never stop learning about finance, as well as all other areas of life. Education opens new doors, possibilities and opportunities. And since most of the above methods are very cheap or free, you have nothing to lose!

How to Get Financial Aid for Your Online Education?

Time has changed and over the years education is no more restricted to pen, paper, classrooms, blackboards etc. Today when time is deemed to be more crucial than money and people in even in remote corners of the world crave to acquire education and its benefits, online education has definitely come up as a desired boon.

Online education is education via the medium of Internet that can be gained synchronously or asynchronously. At present online education is far superior from the conventional mode of learning (i.e. going to universities, attending classes and so forth) in many ways. Online education is not just a means to make judicious use of time but it is also acquiring the best possible degree in academics anytime anywhere.

Though merits of online education outweigh the classroom education in many respects, its greatest drawback is its cost. Online education is significantly expensive in comparison to usual university education. This is precisely the reason that every individual cannot dream of getting an online degree.

But with a surge in enticement for online education some universities imparting it have devised several ways to financially assist the aspirants. The foremost and ideal step in this direction is education loans and giving scholarships.

Whereas loan or arranging finance for online education is concerned the foremost step is to fill up your FASFA i.e. Free Application for Federal Student Aid. The FASFA is an application published by the Department of Education. This application gives the aspirant an idea of the kind of funding he or she is eligible for. Once the application form is properly filled and sent, wait for the confirmation. Usually receiving a confirmation letter is a matter of one or two days. The confirmation letter will brief you about the kind and number of programs you meant for you. This process is quite simple and easy to follow.

After acquiring the confirmation letter, contact the Financial Aid office of the desired college/s. The financial aid officer there will explain you the various types of financial aid packages available that vary from work-study programs to government aid. He will lend you the requisite forms for different colleges. Finally it is at your discretion which college to opt for though the officer will definitely guide you in your selection.

Once the loan application is completed, it will be sent to the school for the process of verification and processing. Usually banks do not fund the students directly but via the concerned institution. The bank sends the money at the commencement of the session.
This is helpful to both the student and the institution.

Apart from loans there are scholarship programs such as the Hope Scholarship Tax Credit that offers a maximum 100% on the first $1000 and 50% on the second $1000 spent for educational purposes. Similarly the Lifetime Learning Tax Credit, the Higher Education Tuition and Fees Deduction are other means to save money on your online educational expenses.

How Online Students Are Using Financial Aid For College Costs and Living Expenses

As a student, going to college or pursuing a career can be a frustrating affair. With there being so many issues to balance, students find the most pressing issue is finding funding for college. Without having any knowledge of the options which are available to many students assume the worst and quit before they even get started. This article will help students understand the financial options available to support an academic career and living expenses.

The most common misconception about funding college is there are scholarships and grants available to give students the opportunity to complete a degree or certification of some sort; Like all misconceptions there is some truth to this falsehood. There is a popular grant called the Pell Grant and also the SEOG grant. These grants are awarded to students through financial aid or FAFSA. What people must keep in mind when assuming they are going to pay for college buy using ONLY grants is the government normally does not provide you with enough grants to support your college education beyond an Associates Degree. In the event the student is attending college online the pell grant and the seog grant will more than likely not be enough money to cover all of the student’s college expenses for the year such as tuition and books. The reason being is the cost of education online vs. the cost of education for traditional or ground student. Convenience always cost more for the consumer so attending school online higher priced than the educational cost for traditional or ground students. The price of education regardless if you attend online or if you attend a classroom is still too high for a full time student to attend work full time and school full time. The government has compensated for the imbalanced lifestyle of the student and has approved federal funding to help the student with college expenses and living expenses.

Financial aid is a combination of three pillars: student loans, grants, and scholarships. Being approved for federal funding is two prong process and the first phase is based on how much money the student makes per year, how old the student is, if the student is incarcerated, if the student is current on their taxes, if the student is a citizen and if the student has ever committed a drug felony while receiving federal support. Since pell grants and scholarships are normally not enough money to support a full time student’s college cost most students become approved for financial aid for support. What most students do not realize is the federal government has permitted students to use financial aid money to support not only the educational cost but also their living expenses; for example, the financial aid is used to pay for dorm expenses and food expenses at colleges nationwide. When the student receives the allotted amount of financial aid for the year if the financial aid amount is more than the cost of school per year the student is able to keep the remainder to support their living expenses. In addition if the student feels he/she still needs more money to support their educational and living expenses the student can apply for a student plus loan which if approve will award the student additional funds for financial support.

Robert Kiyosaki Says There Are 3 Types of Education For Financial Success

According to Robert Kiyosaki, there are 3 types of education that are key to financial success in life.

-Scholastic education: This education teaches us to read, write and do math. This education is very important in today’s world.

-Professional education: This education teaches you how to work for money and if your smart get a job as a doctor, lawyer, accountant or other professional trades such as plumbers, builders, auto mechanics and electricians. The country is full of school that will give you this education to help you become more employable.

-Financial education: This is the education where you learn to have money work for you rather than you work for money. This education is not taught in most of our schools.

So many of our parents taught us the “Poor Dad” mentality where we had to get our education to go and work for someone else. Well, with the economy as it is right now, it is less stable having a corporate job than a work at home job. But as Kiyosaki’s “Rich Dad” taught him, “If you have a poor financial education, you will always work for the rich.”

I don’t know about you, but I am psychologically unemployable having gained the knowledge of a financial education through my Wealth Masters International system. I am no longer employable to work for money. I need to work for myself and have my money working for me. Nothing else makes sense, not even if I was broke would I go back to work for a paycheck. When there are opportunities on the internet where you can work form home and spend less time and create a profit rather than a wage the sky is the limit.

I came to realize that the direct sales system is a way for anyone to acquire great wealth. The system is open to anyone who has drive, determination and perseverance. Or as I also like to categorize it, the correct Mindset, Marketing and Mission. It doesn’t matter your age, gender, race, or popularity. The direct sales industry is about how much you are willing to learn, share and grow.

My experience with direct sale and network marketing is that people are very willing to share their newly acquired systems to make money. They become teachers of their trade and give back to the economy in a positive manner.

So let us all share what we have learned for ourselves about financial education so we can all create wealth and not work for the rich man any longer.