Boost Your Financial IQ: Top Resources for Financial Success

Becoming financially literate is absolutely essential if you want to become financially free and boost your financial IQ. Research shows that there is a strong correlation between poor financial literacy and bad debt, which means that the better educated you are about managing your money and improving your financial IQ, the more likely you’ll be able to maintain a good credit record.

There are plenty of excellent online resources to help you educate yourself, and many of them are completely free. Check out a few of them here:

FinLit SA

A group of charitable sponsors founded FinLit SA, an online knowledge base for financial literacy, with the goal of enhancing financial literacy education and raising awareness in South African society.

There is plenty of free information to be found on FinLit SA. Additional valuable insights can be found in the paid courses. Fortunately, what makes FinLit SA different is that the paid courses are extremely affordable and accessible to all. The average price for one of their courses is only R40.

Just One Lap

Just One Lap is another fantastic free online resource for anyone wanting to learn more about how to manage finances. 

The website offers detailed information on everything to do with financial literacy, from the most basic knowledge around money skills and debt management to advanced teachings on stock market investments and tax strategies.

Well-known financial expert and media personality Simon Brown launched the website in 2011 with the goal of improving the financial well-being of South Africans from all walks of life.

The website offers webinars, articles, podcasts, explainer videos, and the best part? It’s all completely free.

Streetwise Finance

The insurance company Hollard is the sponsor of Streetwise Finance, which provides free training in basic financial literacy with an emphasis on the South African context. 

You can find several self-paced courses on this website intended to assist the average South African in leading a healthier financial lifestyle and engaging more meaningfully in the economy.

If you work through all the courses successfully, you can even earn yourself a certificate declaring you financially literate.

If you want one-on-one personalised guidance on overcoming debt and developing healthy financial habits, contact us at Zero Debt today. 

FAQs:

1. What is financial literacy and why is it important? Financial literacy refers to understanding financial concepts like budgeting, saving, debt management, and investing. It is important because it enables individuals to make informed decisions about their money, avoid bad debt, and achieve financial independence.
2. How can FinLit SA help improve my financial literacy? FinLit SA offers free and affordable online resources, including articles and paid courses, to help improve your financial knowledge. It focuses on educating South Africans about managing money, preventing debt, and making sound financial decisions.
3. What kind of financial topics does Just One Lap cover? Just One Lap provides resources on a wide range of financial topics, from basic money management skills to more advanced subjects like stock market investments, tax strategies, and debt management. All resources are free and easily accessible.
4. What is debt consolidation, and how can it help me? Debt consolidation involves combining multiple debts into a single payment. This can simplify your debt management, reduce interest rates, and help you pay off your debts faster, making it an effective way to regain financial control.
5. Can debt counselling help me if I’m financially struggling? Yes, debt counselling helps those struggling with debt by arranging a structured, affordable repayment plan with lower interest rates. It can prevent creditors from taking legal action against you while ensuring you regain financial stability.
6. Are financial literacy courses from Streetwise Finance free? Yes, Streetwise Finance offers free self-paced courses focused on improving financial literacy, specifically in the South African context. You can even earn a certificate after completing the courses.
7. What are some key steps to improve my financial habits as a newlywed? Key steps include creating a joint budget, prioritising and consolidating debts, and setting both short- and long-term financial goals. These actions help maintain transparency, improve savings, and reduce financial stress in a marriage.
8. How can Zero Debt help me manage my debt better? Zero Debt provides expert services such as debt counselling and debt consolidation, helping individuals manage their debts, lower their repayments, and avoid legal action from creditors. Contact Zero Debt for personalised financial guidance.