When it comes to personal finances, the benefits of education can lead to considerable economic success later in life. According to a 2024 “Investing in Tomorrow” study by Tyton Partners and Next Gen Personal Finance, taking a one-semester high school course in personal finance can result in a lifetime benefit of approximately $100,000.
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“Personal finance literacy is the cornerstone of a resilient and empowered society,” said Tim Ranzetta, Co-Founder of Next Gen. “When students take a course in personal finance, it not only sets them up for their financial future but results in so many positive behavioral outcomes as well.”
Financial literacy legislation is trending among U.S. states. As CNBC reported last year, dozens of states have authorized mandatory completion of a personal finance course before graduating high school, and “there are another 43 personal finance education bills pending in 17 states.”
Learning how to prevent revolving credit card balances and using higher credit scores to obtain favorable borrowing rates for important costs like home mortgages, auto loans and insurance account for the value being placed on this early financial education movement.
Whether it’s creating a responsible budget or recognizing what investment opportunities are right for you, early learning is essential to grow a knowledge base that you’ll use throughout your life. But what about the many Americans who never had the opportunity to study personal finance in high school and have never sought out an adult education program on the subject?
Don’t feel embarrassed about not completing a degree or being less than aware of your personal finances. Many people didn’t learn about personal finances in high school. However, it’s never too late to further your education and use it to better your earnings throughout your life. Missed chances are only missed if you avoid taking steps to learn.
Don’t discount checking in with your local financial institution sites for free, informative resources. But if you want to take a deeper dive, online learning platforms have a seemingly unlimited amount of free education classes to explore.
Here are four CNBC Select-recommended courses that will get your personal finance knowledge up to snuff.
Udemy offers thousands of course on its platform for next to nothing or free. It’s general Personal Finance 101 tutorial is free (unless you want a certificate of completion and instructor access) and offers, “Everything you need to know about personal finance in the U.S, presented through concise, engaging, animated videos,” per the site.
