Financial literacy is one of the most valuable skills we can learn in life. In fact, the earlier we learn it, the bigger and more positive the impacts. But unfortunately, it’s not something we learn as standard. While the history of World War II is a mainstay in high school curriculum, most of us went through our formative years learning next to nothing about money.
On top of that, financial literacy is one of those things that humans just aren’t naturally wired for. The human brain is programmed to seek present comfort and escape danger, making principles like budgeting, saving and preparing for the future difficult to master for many of us.
Luckily, the UK has a raft of high-quality, free financial education available no matter what stage of life you’re at. From getting out of debt and managing financial hardship to learning about financial freedom and growing wealth, there are some incredible resources out there. Here are a few of our favourites that won’t cost you a penny to learn from.
If you’re experiencing hardship or struggling with paying bills and repaying debts, including mortgage debt, these supports can help you access help and a path forward. The earlier you can speak to someone, the better.
Citizen’s Advice offers free, unbiased advice on how to navigate your financial challenges. They may refer you to debt charities or local support in your region, or advise you on what your rights are with lenders and payment demands.
Step Change is a debt charity that helps people get their heads above water with their repayments. They can help you arrange a Debt Management Plan to make your repayments manageable and create a path forward to debt freedom.
The National Debtline is a free service that offers unbiased, shame-free support to those navigating debt challenges. They’ll discuss with you your options, your rights, and even help you speak to lenders to take control of the situation.
Personal finance isn’t something you learn once and never think of again. Budgeting, saving and managing money is an ongoing pursuit, and having resources to help you stay the course and navigate life’s ups and downs is key.
The UK’s favourite money expert, Martin Lewis, has run Money Saving Expert for over 20 years. His platform and newsletter share regular tips and tricks on savings and money news so you can stay on top of what’s available to make your money go further. From energy costs and managing the cost of living to finding freebies, accessing support and understanding tax and pensions, MSE is a vital resource for households across the UK.
MoneyHelper is the Money and Pensions Service consumer support service, offering free advice on money management and pensions. They offer calculators, tools and resources, as well as 1:1 appointments for specific concerns.
If you’re wanting to give your finances an overhaul once and for all, a complete course can transform the way you approach money and set you up for a completely different financial future. Here are two of our favourite completely free money management courses in the UK.
Supporting over 50,000 students so far, Rebel Finance School by Katie and Alan Donegan is a free 10-module course on achieving financial freedom. The pair both retired before 40 by learning how money actually works and building a lifestyle below their means, and now they run the free course to help others experience the same shift. Talk about good karma!
The course is completely free to join, and includes 10 modules covering everything from net worth, demolishing debt, making over your money mindset, financial communication, investing and future-proofing your finances. Sign up here.
Money Saving Expert’s Martin Lewis also has his own free course via Open Universities called MSE’s Academy of Money. Across six lessons, you’ll learn about spending, saving, budgeting, retirement, lending, mortgages, investing and taxes. You can enrol for free here.
When it comes to accessing free financial advice or free financial resources in the UK, it’s important to be smart. Beware of scams, be careful what information you share, and be wary of anything that sounds too good to be true. Scammers often prey on vulnerable people by promising ways to ‘get rich quick’ through fake investment schemes or expensive programs. Equally, free resources may appear free at first, but later lead to a further charge to access the full content. While this isn’t inherently bad — the paid content may be well worth the money — it’s important to consider your options before handing over money, and make sure you’re not being convinced to buy something you can’t really afford.
If you’re looking to take control of your finances and get on top of your money, PocketSmith is the personal finance software for all walks of life. Manage multiple currencies and multiple bank accounts all in one place to get a complete view of your net worth, household budget and financial behaviour.
Emma Edwards is a finance copywriter and blogger, on a mission to humanize the financial services industry by creating meaningful content that’s accessible and empowering. You’ll find her penning money tips at her blog, The Broke Generation, sharing financial insights on Instagram, or injecting life into content for her business clients.
