5 Best Free Financial Education Resources

While I would like to believe Arrest Your Debt is the only financial education website you ever need to visit, I realize there are many other great free resources available on the internet. At the risk of sending people away from my site, I feel it is my job to make sure my readers know about the best free financial education resources on the world wide web – even if they are not mine.

This list is updated continuously with the most up to date information to keep it relevant. Whether you’re just starting on your finance journey and trying to build a budget or want to begin investing, these resources will put you on the right track.

These are some of my favorite resources, but I’m always open to new information sources. Do you know of any other great free websites? Drop me a line at ryan@arrestyourdebt.com, so I can get it added to the list!

1. Pigly

I recently stumbled upon the website Pigly, which offers a wealth of resources focused on financial education. There is a real effort to educate families about proper financial planning and children’s financial education for free!

While Pigly offers a large selection of free personal finance calculators, I wanted to point out the Inflation Calculator. On my website, I have not yet covered the impact and importance of inflation regarding retirement and financial planning.

For example, I wanted to calculate how much $1,000 in today’s dollars was worth in 1980.

Pigly’s free inflation calculator can be adjusted to calculate just about any scenario and show its impact has on our money. The results were shocking.

Based on inflation calculations, $1,000 in 2020 has the same buying power as $322.67 in 1980. In other words, if you had $322.67 in 1980, you would need to grow it to $1,000 over 40 years just to stay even!

This graphic shows how important it is to invest your retirement funds early and get compound interest working in your favor. Yearly inflation can have a devastating impact on your finances if you only put your money in a savings account.

Check out Pigly to use this calculator on your own and see the other great free resources they have to offer.

2. MyMoney.Gov

MyMoney.Gov is chartered and run by the Federal Financial Literacy and Education Commission. The goal is to offer financial education across the United States to increase financial literacy and improve the economy.

MyMoney.Gov has a large library of information about earning money, borrowing, saving and investing, spending, and protecting your income.

In addition to free financial information, the site also includes free resources such as budget templates and economic research.

3. Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau (CFPB) is a United States government agency that oversees banks and lenders to ensure they are working within the law and treating customers fairly.

While fairly is quite subjective, the CFPB offers financial education for consumers to protect themselves from predatory lenders.

Tracking money milestones in children is one of the free resources CFPB offers. There are activities, conversation starters, and printables you can use to assist your children with financial education. The financial education is tailored to specific categories to include young children through adulthood.

4. Khan Academy

As a 501(c)(3), Khan Academy operates exclusively off donations. This nonprofit organization’s mission is to provide free education and is separated into sections to assist students, teachers, and parents.

A significant focus of the Khan Academy is on mathematics. Khan Academy resources can help students get ready for upcoming traditional math classes or create basic mathematical building blocks.

The online learning environment can be taken at your own pace, whether you are an adult learner or helping your child navigate their financial and mathematical knowledge.

Knowledge in math is the foundation of sound financial literacy skills. If you or your kids need additional tutoring in math, the Khan Academy is an excellent resource.

5. Next Gen Personal Finance

Next Gen Personal Finance is a nonprofit organization with a core mission of making free financial curriculum and educators’ resources.

What I like about Next Gen is their ability to curate some of the best information and curriculum based on personal finance best practices. They are a one-stop-shop to find all the necessary resources to educate students on proper money management.

Next Gen Personal Finance is one of my go-to resources when I need additional materials for my personal finance classes. You can easily spend hours on the site perusing their free financial education resources in whatever area you want to learn more.

The Takeaway

These are my favorite free financial education resources that focus on educating others rather than profiting from them. I’m a fan of nonprofits because it takes a great deal of focus and commitment to bringing value to others to survive as a 501(c)(3).

In addition, no one knows everything or has all the answers. It’s essential to expand our horizons and look at other perspectives to give us a well rounded financial background.

Personal finance does not need to be boring, and many of these resources use engaging games to keep kids focused. With the vast amount of free financial education resources available on the internet, be sure to check out these resources before you decide to spend a bunch of money on a financial education program.

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