Recently, Miss Money Box went back to school. She went to money school.
Through the power of social media I was introduced to Paridhi Jain. Paridhi is a fellow personal finance nerd and the founder of an education company called SkilledSmart.
When Paridhi began researching what would become SkilledSmart’s ‘Get MONEY smart’ course, she really got a grasp of the extent of financial illiteracy in Australia, “I found that most financial education is held by people who work in the industry,” says Paridhi.
“There wasn’t really anywhere you could go for a practical education unless you wanted a degree in it. It’s silly because you can learn just about everything else: how to sew, how to knit, how to exercise…but how to manage your money? There’s no school for that.”
So, realising that Paridhi and I share a very similar money mindset, when she invited me along to check out the Get MONEY Smart course, I said yes.
What you’ll learn
I have to admit, I was a little bit confident going into the weekly sessions. I am Miss Money Box after all! But I came away with a more in-depth understanding of personal money management as well as financial services and systems in Australia.
Lessons covered debt, tax, superannuation as well as my most favourite subject – investing. What I loved as the weeks went on was watching my classmates really start to grasp personal finance – especially some of the scarier concepts such as buying shares, bonds or property.
Each class is taught by a financial professional. Class lessons and materials have been designed via interviews with financial planners and experts. Paridhi stresses that in coordinating the course, she has been at pains to make the content as objective as possible.
How you’ll learn
Each lesson focuses on learning practical skills that you can use yourself to work on your own finances.
By the end of the first class, I’d been given the tools to set up my own personal income statement and balance sheet. To my shame, this is something I’d never done in a very serious way before.
It was rather enlightening to see where exactly I was spending my money (so much food). I was then able to automate my bills so that I know exactly what I’m spending from week to week.
I also learned a fair bit about my least favourite finance topic, insurance. Fun fact: Miss Money Box doesn’t go nuts for every aspect of personal finance.
By the end of the six-week course, everyone in the class seemed to have a genuinely positive outlook on their financial futures.
One of my female classmates even got started in investing by buying shares in an Exchange Traded Fund. For those of you that know me, you’ll know how bloody excited I was to discover this.
For finance novices or people who want to get a better understanding of money, I honestly can’t recommend Get MONEY Smart highly enough.
Get MONEY Smart runs in Sydney, weekly in the evenings over 6 weeks. The next session starts on 20 March.