5 ways to start your Financial Education practically for free

When hearing ‘financial education’ many people think of boring accounting classes and long lectures or that only people in that field should learn about finance. No, if money affects your life (which it does to everyone) you should have a financial education. How many times do students complain that they don’t understand what taxes are, what retirement really is and how you should save up? It’s frustrating when all they are told is earn good grades and you’ll get a job. What if you don’t want a job? What if you want to travel the world and earn money at the same time? To try different ways of getting an income, you must learn about what an income is and how it can be generated. You don’t want to end up loaded with bad debt and stuck in the rat race. So the answer is a personal financial education. Here are some ways to get started:

  1. Books

It doesn’t matter if you don’t like reading. These are not stories, they are education materials. Set one hour a day to read, to learn. And they will motivate you. Although the best books will have a cost, try buying them as an eBook for Kindle or Phone. In the long run, the cost of high quality books will be nothing in comparison with what you earn from their education. For a list of recommendations visit my Reading page.

 

  1. Life Game

An interesting way to find out whether you can exit the rat race. On this page of Robert Kiyosaki’s website is an online board game, where you play against other online players to ‘beat’ the rat race. This means doing different activities such as investing, paying off debt and earning enough passive income to pay your bills. As in real life, unexpected costs such as babies, events and bankruptcies can happen to you.

 

cashflow financial education

  1. Investing game

Have you always thought investing is super risky and simply a game of chance? Think again. After reading investing books, you learn that if you know what you’re doing, you will mostly earn a profit. If you want to try it out but don’t want to lose any money, try Google Finance where you enter the ‘simulated’ market with fake cash and can try buying and selling shares on the stock market.

google finance financial education

 

  1. Online courses

If you go on Udemy or coursera you will find plenty of Financial Education courses, whether it’s accounting, investing or just learning how to manage your own money.  It’s more interactive and is simpler than going to a class. I’m currently following one on how to earn a passive income by building websites. The step by step description with examples makes it much easier to understand and follow.

udemy courses financial education

 

  1. Ask someone

If you have a family member or a close friend who is an accountant, tax lawyer or just very knowledgeable, try asking them. It’s free and they have first-hand experience with it. Invite them out to dinner and simply ask them what you want to learn. They can then give you additional tips to continue educating yourself.

These first 5 methods are mostly free and don’t take a lot of effort. Once you enter the world of financial education you will be astounded by how little you know, and will probably find some of it interesting. As you get the ball rolling you will get more ideas on efficient ways to earn money, ones which require less effort and more enjoyment.

And if not, there is no harm in trying!

 

Building 10 SEO websites

Mike Omar’s plan is based on using Google to earn money. If you’ve heard of SEO, then you know what this means. He started earning big money when he figured out how SEO worked and how it was used to increase traffic on a website.

When you look up something in Google, for example, ‘Build a treehouse’, the results turn up in order of importance. The first result is what Google thinks will satisfy your search the best. If you write an article which ranks high up on the search results page, people are much more likely to click on it, meaning more traffic and therefore more income. So the big question is, how do I rank high on the page? Search-Engine Optimization (SEO).

By introducing specific keywords into you articles and following other SEO tips, you can get your website to rank high on the results. However, will you ever rank higher than Apple for the keyword ‘iPhone’? Very unlikely. As a simple blog writer, the catch is to find keywords which are not too popular but which are still frequently searched for, so you can actually get high on the first results page.

iphone google search

gap year google search The numbers below the search box won’t turn up on your results page; I have a great extension called Keywords Everywhere showing the average amount of searches each month.

To determine whether you could rank for a certain keyword, you first have to see what the competition is like. The ‘strength’ or ‘power’ of a result on the search page is called the Page Rank, or Page Authority. I have an extension called MozBar which tells me the PA of each result. The higher the PA, the stronger the wesbite.

gap year page authority

As I said before, although ‘gap year’ is not searched as often, powerful website have the first few results

gap year jobs europe page authority

‘gap year jobs europe’ is a keyword I could rank for. However, only 90 people a month search this term. Is it really worth it?

On Omar’s website is a formula he uses to calculate how much money ranking high for a certain keyword will earn you, so you know if a keyword is worth it or not. After that, his plan is pretty simple. Find 10 completely different keywords or niches that you are interested in, and make a website for each one. Then, for each website, find minimum 10 keywords which are related to the main one and for which you could rank high on Google’s main page. For example, ‘gap year’. Ranking high for ‘gap year’ is pretty hard since the high ranked websites have a high PA. Through Keyword Research using Google Adwords (will explain in another post), you find words such as ‘gap year jobs europe’ or other similar terms for which you could rank pretty high.

After that, you roughly write a good quality article on each ‘high-ranking’ keyword you found, meaning your articles will rank high over time and so will your website, earning you a decent income.

There are some other technicalities which are all thoroughly explained in Omar’s plan, but this is the general idea. It means putting in a lot of work for about 6 months or so and then leaving each website to earn traffic on its own.

After going through the entire video lessons, I liked the idea and I thought it could gain me a ton of website and article-writing experience, whether it was a success or a fail. So I started some research and so far have an outline for one website. Not only can I rank high for the keywords I found, but the main topic is something I have experience in and which I enjoy: gap years (used in the example). The research is pretty time-consuming and monotonous, but I am willing to try it out.

I will keep this post updated!