Do you know what a unit trust fund is? Do you know why credit card debt is especially bad? If not, it may be time to do some homework and improve your financial literacy.
South Africa is one of the least financially educated nations to take part in current global studies of financial competencies.. Notorious for high levels of national and consumer debt, this is a nation with money problems at a national and personal level. While a shaky political landscape, rising costs of living, a weak currency and a recession are not helping matters, it is widely believed that low levels of financial literacy are in part responsible for the high levels of personal debt shouldered by many South Africans (amongst the highest levels in the world).
With an educational system which is currently struggling to help students achieve a passing grade in mathematics, it’s little wonder that financial knowledge is still barely included in syllabuses, with little or no teaching of the subject in South African schools.
The Government may not be doing much to improve financial literacy and awareness in the country, but there are plenty of organisations working to teach the population more about finance. If your own financial know-how could do with some brushing up, we’ve share some helpful resources which could teach you more about money…
The Johannesburg Stock Exchange (JSE) offers free seminars to the public, which will teach you all about investing your money, the stock exchange and nurturing your wealth responsibly. If you’re keep to take a more informed approach to growing your finances,these seminars could be a good place to start.
If you live in Johannesburg and want to learn more about money, signing up to the JSE’s mailing list by checking “Power Hour Free Investment Seminars, Learning Modules and Newsletters” option under “Keep Updated With Us” on the Individual Investors tab will equip you with all sorts of useful knowledge. Subscribe and keep your eye on your inbox to stay abreast of upcoming seminars.
This free online resource is full of essential lessons about key aspects of finance, from budgeting and saving, to debt and investments. You’ll find lots of very helpful information in these bite-sized videos covering the difference between “good debt” and “bad debt”, budgeting tips, savings options and much more besides.
These free online courses may not be specifically tailored to South African students, but they will teach you a lot of fundamental financial basics, with courses on everything from basic financial literacy, to accounting, managing debt, venture capital, financial reporting and even niche topics like cryptocurrencies. Explore the online resource today to find a lesson which plugs a gap in your financial knowledge!
Have you discovered any more great resources for learning about finance? Share blogs, sites, courses, seminars and more below to help other readers get financially savvy.