In recent years, “finfluencers” have gained massive popularity on social media sites like TikTok, with the hashtag #FinTok garnering more than 4.7 billion views on the platform. These influencers, often giving out quick and engaging financial advice, are especially appealing to Gen Z. However, a study by the CFA Institute revealed a concerning issue: only 20% of finfluencer content recommending investments includes proper disclosures, making it difficult to determine the accuracy or biases behind the advice.
While TikTok and other platforms can be convenient, the lack of sufficient oversight on financial content can lead to disastrous outcomes, such as misguided investments or poor money management decisions. Until more regulations are in place, a safer approach is to turn to trusted digital resources that offer expert advice on personal finance. So, below, we’ve compiled a list of the four top digital resources for mastering money management.
Khan Academy’s financial literacy course
Khan Academy has been a reliable source for students seeking clear and simple explanations of subjects like math and science since 2008. Now, with support from Capital One, Khan Academy has expanded to offer a comprehensive financial literacy course. This course covers essential personal finance topics such as negotiating debt with creditors, weighing the pros and cons of renting versus buying a home, and understanding investments and retirement planning. The course is organized into self-paced units, breaking down complex financial concepts into manageable lessons. Whether you’re new to financial literacy or looking to refresh your knowledge, this course provides an invaluable foundation for making informed financial decisions.
Everand’s money management ebooks
Everand is a subscription-based digital library that gives users access to a wide selection of ebooks and audiobooks in genres like business, self-improvement, and finance. One key benefit of using ebooks to learn about money management is the expert advice and comprehensive strategies provided by authors in the finance industry. Two standout finance and money management ebooks on Everand include Chris Voss’s Never Split the Difference and David M. Rubenstein’s How to Invest. In How to Invest, Rubenstein, a veteran in private equity, distills more than three decades of experience to give readers insights into the world of venture capital, real estate, hedge funds, and more. His ebook covers topics such as crypto, ESG investing, and endowments, providing a well-rounded foundation in investment knowledge.
Personal finance blogs like Financial Panther
Another excellent resource for financial advice is personal finance blogs. These blogs provide a wealth of practical tips, personal anecdotes, and real-life stories that can help readers better understand the ins and outs of personal finance. Here at Financial Panther, we cover everything from achieving financial independence to maximizing bank account bonuses and side hustling. In our previous post , for instance, we explained how side income can benefit long-term financial planning. Regularly engaging with personal finance blogs not only helps you stay up-to-date with evolving financial trends but also gives you access to actionable advice that can enhance your money management skills.
NerdWallet’s podcast
For those who prefer learning through audio, NerdWallet’s Smart Money podcast is an excellent choice. In each episode, NerdWallet experts tackle real-world financial questions, helping listeners set and achieve financial goals. In one Smart Money , the podcast hosts, Sean Pyles and Sara Rathner, explore common behavioral biases such as loss aversion, the gambler’s fallacy, and framing effects. They outline strategies for overcoming these biases, including aligning investments with individual time frames and risk tolerances, and avoiding frequent monitoring of market changes. With practical tips on navigating the emotional aspects of investing, Smart Money is a valuable resource for improving financial decision-making.
Whether it’s taking a course on Khan Academy, exploring ebooks on Everand, reading personal finance blogs, or tuning in to the Smart Money podcast, these resources offer expert guidance to help you take control of your financial future.
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