At PayDayLoansOnline we firmly believe that the ability to proper handle all forms of credit, including loans, is an essential part of any person’s financial education. Loans are a day-to-day reality for most people with the most common amongst them being mortgages and credit cards but with many other financial products around to choose from. The ability to know when and when not to take out a loan is therefore an essential part of sensible money management.
Bearing all of this in mind, many people are shocked to hear that depending on the criteria you use as few as 24 states provide any form of financial education at all through the public school system. This means that in order to receive any form of financial education, children and adults will need to embark on self-directed study consulting books and other information products written or produced by reputable experts.
With more and more self-improvement speakers entering the market, many of them commenting explicitly on financial matters with what may be conflicted or self-contradictory advice seeking the financial education you need can be harder than it would at first seem. To help deal with this problem, the US Treasury established the Office of Financial Education in 2002 with the aim of improving financial literacy across the country. One of the services they offer is the Sherman Award for Excellence in Financial Education which seeks out and draws attention to genuine experts in the field of personal finance.
There are also a wide number of private non-profit organizations who seek to improve the state of financial literacy in the US, including the Council for Economic Education and the Jump$tart Coalition. Both of these organizations push for better provision of financial education in schools throughout the country. Part of this includes choosing financial products and learning when it is appropriate to consider taking out credit.
It is also possible to hire an independent financial adviser who will give you advice that is unbiased towards any particular financial product. The downside to hiring one of these, however, is that they are generally quite expensive and only a viable option for those with a relatively high level of disposable wealth. For the average person in the street this sort of one-on-one expert advice is out of reach. As a result, the most cost effective way to seek out a financial education for many people will be to go to a library and study the basics of personal financial management.
Books on how to handle your money frequently make it to the top 10 of the New York Times Bestseller list and these can be of varying quality. However, for those without the time or the inclination to study the issue in depth they often provide just the sort of common sense advice that they need. There are many of these on the market for you to choose from as you begin your financial education. However, much of this advice is common sense and many people understand it intuitively without ever having to read a book on the topic.