Modern financial education: Integrating Classic Texts and Modern Tools Using Finelo as a Case Study

Nowadays, having a financial education is no longer an option, but a necessity, without which it is difficult to survive in the capitalist world. Previously, to get a full-fledged financial education, you had to go to universities, and spend a lot of time and money, but now, thanks to the constant development of informatization of education and the strategic implementation of digital transformation of education, online education is booming. As an important form of online education, online courses are an important force in reforming traditional forms of teaching and learning. I also want to note that a deep understanding of macroeconomics is not necessary for studying finance, not to mention if you just want to practice financial management and make your first investments. However, I strongly recommend that you spend some time understanding the basics of how the economy works.

Here I want to share an idea or a guide on how to combine traditional education and fundamental books on economics and online courses to get the most out of it. As an example of an online platform for learning finance, I will take Finelo. 

We will start with the famous video by Ray Dalio, which is called "How the Economic Machine Works", it the author will briefly explain how the economy works in simple terms, using and describing the following concepts: trade, markets, central banks, monetary policy, fiscal policy, debt, collateral, credit, interest rates, inflation, deflation, productivity, business cycles, deleveraging, recessions and depressions.

Next, we will turn to the Finelo app, where we can get acquainted with the terms and concepts shown in the video in more detail and try to understand how various financial mechanisms work using real cases of large companies. The platform will allow you to consider each concept separately and explain key points in simple terms using real-life examples that are understandable for beginners.

For those who want to delve even deeper into the concepts of macroeconomics, you can refer to the textbook Olivier Blanchard "Macroeconomics".

Learn basic financial knowledge to manage your wealth. Let's move on to the Finelo platform, where we can study material that covers stocks, bonds, dividends, markets, brokers, exchanges, bubbles and the basics of the history of financial markets. The course explains things clearly and concisely. Thanks to this course, you will get a basic understanding of finance.

The next step should be to gain practical experience. The best way is to open a stock account and invest your own money, but for beginners, this is a reckless and risky step, since most likely you will simply lose your money the first time. Instead, use a stock exchange simulator, like on the same Finelo platform or find another one that suits you, there are enough such tools available.

To improve your understanding of the market, its reactions and investors, I recommend reading the book by Robert J. Shiller "Irrational Exuberance". It not only describes in detail various types of investments but also reveals the topic of human psychology in investments. Let me remind you that the author is a Nobel Prize winner, and his works are worth listening to.

This is just the beginning of your learning, but starting correctly is a very important step. You still have to study various kinds of material and topics to understand the mechanisms of the economy sufficiently. And there is still more to learn in practice. Do not forget to study aspects such as Risk Assessment and Regulation before moving on to practical things. Learning platforms will always help you with this.