The past few years have been financially challenging for many people. Between the pandemic, inflation, and broader economic factors, feeling stressed or overwhelmed about money is understandable.
However, there are productive ways to respond during difficult times that can lead to long-term stability and recovery. The key is to invest in yourself through education and skills building.
Developing your human capital—the knowledge, talents, and abilities you possess—is one of the smartest investments you can make. While formal education is not accessible or desirable for everyone, there are many affordable and effective alternatives to build your skills. The more you are able to offer in terms of expertise, problem-solving, and providing value to employers or clients, the more financially secure you will become.
Rather than being discouraged by the present circumstances, take control of your future by equipping yourself with self-education. This guide will provide tips and resources to get you started.
Investing in your personal and professional growth is the key to unlocking your full potential and long-term financial recovery.
1. Formal Education
Formal education through colleges, vocational schools, and trade schools can be a great way to invest in yourself for long-term financial recovery and growth. Though tuition costs can seem daunting, there are many affordable options, as well as financial aid and scholarship opportunities.
Community colleges and state schools offer quality education at a fraction of the cost of private universities. Look for accredited programs in fields with strong career prospects. Science, technology, engineering, and math (STEM) degrees are in high demand, as are healthcare, business, and trades like plumbing or electrician work.
Vocational and trade schools focus on career-oriented skills and usually take less time to complete than a four-year degree. Many trades pay well and have thousands of job openings. Research options like medical assistant, dental hygienist, mechanic, welder, computer technician, HVAC, or cosmetologist programs.
Once enrolled, take advantage of career counseling services to help choose your program and land a job after graduation. Seek internships and network in your industry. Join professional associations as a student member. With careful planning, formal education can set you on a path to financial recovery and success.
2. Online Courses
Online courses offer a convenient and affordable way to continue your education and build new skills from the comfort of your own home. With the rise of e-learning platforms like Coursera, edX, Udemy, and LinkedIn Learning, anyone with an internet connection can access high-quality courses and programs from top universities and experts around the world.
Many online course providers offer financial assistance options, discounted memberships, and even free courses, making them ideal for those facing financial hardship. You can learn at your own pace, on your schedule, and often for a fraction of the cost of traditional in-person courses. Whether you are looking to gain qualifications, expand your skillset, or simply learn something new, online courses allow you to invest in yourself and your future career opportunities.
Some popular affordable and flexible online learning platforms to consider include:
Coursera: Offers over 4,000 courses, including specializations and degrees from top schools. Financial aid is available.
edX: Features 2,000+ courses from 140 institutions. Many courses are free but verified certificates have a fee.
Udemy: Access over 183,000 video courses starting at around $20 each. Frequent sales and deals are available.
LinkedIn Learning: Monthly subscription with thousands of business, technology, and creative skills courses.
Online learning removes barriers of time, location, and money. With so many high-quality courses available online, there's never been a better time to invest in yourself and your education.
3. Public Libraries
Public libraries offer a wealth of free resources for learning new skills and enhancing education. Most libraries provide free access to books, ebooks, audiobooks, magazines, newspapers, and more that allow you to self-study subjects of interest. They also frequently host free classes, workshops, lectures, and other events focused on skills building and professional development.
For example, many libraries offer free computer and technology classes to help people gain digital literacy. You can learn essential skills like using Microsoft Office programs, coding, web design, social media, and more at your local library. Libraries also provide access to research databases, online learning courses, and language learning software for free.
Beyond digital skills, libraries host workshops on topics like financial literacy, job searching and resume writing, entrepreneurship, arts and crafts, and other practical skills. They bring in knowledgeable speakers and teachers to share their expertise at no cost. Libraries also have spaces to study, practice skills, and work on projects.
Taking advantage of free public library resources is an excellent way to invest in yourself and build skills without spending money. Anyone can access these resources just by getting a free library card. Public libraries make self-education accessible for all.
4. Local Community Centers
Local community centers often offer a wide variety of low-cost or free classes and programs for adults looking to gain new skills and knowledge. From computer skills to language classes to financial literacy programs, community centers provide accessible learning opportunities right in your own neighborhood.
Many community centers receive public funding and grants that allow them to subsidize the cost of adult education programs. While each center's offerings will vary, some common affordable learning options may include:
- Basic computer and technology classes - Learn essential digital skills like using a computer, browsing the internet, email, Microsoft Office programs, and more.
- English as a Second Language (ESL) - Improve English communication skills through group or one-on-one ESL classes.
- Financial literacy - Gain money management skills through budgeting, credit, investing, and other personal finance programs.
- Job training and career development - Acquire skills needed for a new career path or to advance at your current job.
- Health and wellness - Take nutrition, fitness, or mindfulness classes.
- Arts, crafts, and hobbies - Explore and develop your creative talents.
The low barrier to entry at community centers makes them an accessible way to build skills. Be sure to check upcoming class schedules and register early, as these affordable programs often fill up fast. Investing time in learning something new through a community center is an inexpensive way to invest in yourself.
Finally, libraries and community centers can be great spaces for networking for job opportunities and entrepreneurial connections.
5. YouTube
YouTube is home to millions of free educational videos on every topic imaginable. You can find tutorials, how-tos, lectures, demonstrations, and more. It's an invaluable resource for picking up new skills and expanding your knowledge.
Some things to keep in mind when using YouTube for learning:
- Look for videos from established educational channels, organizations, or instructors to ensure quality. Avoid random one-off videos.
- For technical skills, search for "tutorials" to find step-by-step walkthroughs.
- Sort results by view count to surface more popular and vetted videos.
- Check the comments section under videos to see what others are saying about the quality.
- Use YouTube's subtitles and speed controls to optimize your learning experience. Slowing down videos can help comprehension.
- Create a playlist to organize videos and courses on a subject. This allows you to learn at your own pace.
- Consider getting a Google account to like videos and subscribe to channels so recommendations improve over time.
With a bit of digging, you can find videos teaching anything from programming to painting, car repair to taxes. While no substitute for real hands-on training, YouTube provides free access to knowledge that can expand your skills.
6. Podcasts
Podcasts are a great way to learn new skills and information for free while commuting, exercising, cooking, or doing other daily tasks. By subscribing to podcasts on topics you want to learn about, you can passively absorb knowledge just by listening.
Some podcasts function like audio courses, taking you through lessons step-by-step. Others feature interviews with experts and thought leaders across industries. Look for highly rated podcasts in personal finance, investing, career development, management, marketing, technology, and more.
Podcasts are available on all smartphones and can be downloaded for offline listening. Search on platforms like Apple Podcasts, Spotify, Google Podcasts, Stitcher, and more to find podcasts in your desired learning areas. Consider listening while driving, cleaning, walking, cooking, or doing other hands-free activities to make the most of your time.
With thousands of free podcasts available today, you can build your skills and knowledge on a budget, just by pressing play. Consistent listening will add up over time, helping you recover and thrive financially.
7. Professional Certifications
Adding professional certifications in your field can significantly boost your skills and make you more attractive to potential employers. Many certifications can be obtained for low cost or even free through online courses and exams.
Some popular certifications to consider:
- Project Management Professional (PMP) certification for project managers
- Six Sigma certifications for process improvement skills
- Human Resources certifications through HRCI
- Information Technology certifications like CompTIA A+
- Bookkeeping certifications through AIPB
- UX/UI certifications for designers
- TEFL/TESOL for teaching English
- Google Analytics certification for digital marketing skills
When researching certifications, look for ones that are widely recognized and valued in your industry. Find out what exams or prerequisites are required to qualify. Then make a plan to study and sit for the exams.
Adding reputable certifications to your resume and LinkedIn profile will help you stand out from other applicants and highlight your commitment to ongoing education in your field. The investment of time and money to obtain certifications almost always pays off in improved career prospects and earnings potential.
8. Apprenticeships
Apprenticeships provide paid on-the-job training and are an excellent way to learn new skills or transition to a new career. Many apprenticeships don't require any prior experience and provide a stipend while you learn.
Apprenticeships are available in many fields like construction, manufacturing, healthcare, IT, and more. Programs typically last 1-6 years and upon completion, you'll have the experience and credentials for a skilled career.
Some key benefits of apprenticeships:
- Earn while you learn. Get paid for on-the-job training.
- Gain qualifications and certifications. Apprenticeships provide recognized credentials.
- Hands-on training. Develop skills through real work experience.
- Mentorship. Work alongside and learn from experienced professionals.
- No student debt. Apprenticeships are funded by employers and government programs.
With an apprenticeship, you can gain the skills, experience, and connections to advance your career, without going into debt. They provide a learn-by-doing approach to prepare you for in-demand jobs. Apprenticeships are an affordable path to increase your earning potential while being paid to learn.
Conclusion
Investing in your education and skills can be one of the best things you can do to achieve long-term financial stability and recovery. Though it may require some sacrifice in the short-term, dedicating time and resources to improving your knowledge and abilities pays dividends in the future.
The most important things to remember are to choose affordable learning options, focus on skills that are in demand and will increase your earning potential, and stay motivated through the process. Formal education, online courses, public libraries, community centers, YouTube, podcasts, certifications, and apprenticeships are all great ways to build your skills.
With the right education and expertise, you'll be able to increase your income, job security, and career prospects. Though the process takes time and effort, investing in yourself is one of the wisest investments you can make. The payoff comes in the form of greater financial freedom and stability down the road. Don't be afraid to invest in your greatest asset—you!
