Learn a New Language: The Language of Money
- Around half of Americans don't feel very confident in managing their personal finances.
- Listen to podcasts or work with financial professionals to get a handle on your money.
- Check out FDR's resources to help you learn about controlling your debt.
Learning the language of money means developing a deeper understanding of financial literacy. It's about learning how money works, honing your money skills,, and how to make informed choices about complex topics like investing or debt payoff. Learning the language of money can help you make better financial decisions.
You can learn the language of money by listening to podcasts, working with financial professionals, or doing online research.
Whether it’s understanding how a debt relief program works, learning how to invest, or getting a grip on the various types of retirement plans, there can be a lot to learn.
Who Should Learn the Language of Money?
No matter what your financial situation looks like, you can benefit from learning the language of money. However, this skill is particularly important if:
You’re in debt. Debt limits your options because you have creditors to pay. It increases the cost of your purchases due to interest and makes it harder to live within your means because of your monthly payments. Learning the language of money can help you get rid of debt.
You don’t have a budget. A budget helps ensure you have enough money for the things you need and the things that are important to you. If you don’t have a budget or have trouble sticking to one, learning the language of money can help you change that so you'll have a roadmap for your spending
You need an emergency fund. An emergency fund can do wonders for your peace of mind and help save you financially when the going gets tough.
You want guidance for how to invest. Investing can be confusing, especially if you’ve never done it before. Get to know the ins and outs of investing so you’ll be better equipped to make smart decisions that allow you to fund your future.
How to Learn the Language of Money
It doesn’t cost a fortune to learn to speak the language of money. In fact, you can become financially literate without spending a dime. Here are some of the best free or inexpensive ways to learn the language of money.
Use the internet. Search on Google for a money-related topic that you’re unsure about or would like more information on. Check the search results to find articles created by trusted sources to learn more about the topic.
Take classes. Sign up for online financial courses on topics such as retirement planning, budgeting, or saving for college. You can also check out your local community college to see what’s available.
Listen to podcasts and radio shows. There's no shortage of podcasts and radio shows dedicated to money. These shows typically feature everyday people who want answers to their money questions. Chances are you can relate to some of them and learn from what they are or aren't doing. Check these out:
The Dave Ramsey Show
The Suze Orman Show
I Will Teach You To Be Rich
So Money
Afford Anything
Planet Money
How to Money
Work with finance professionals. Financial planners, tax accountants, and estate planners are a few of the many financial experts who could answer your questions. A financial consultant that focuses on middle-class clients could be more affordable than you think.
Talk to members of the older generation. You may have a parent, grandparent, or older friend who has gone through an event like an economic downturn or war, or who simply has a different take on how to manage money. Don’t be afraid to ask them to share their thoughts and insights so you can use their experience to your advantage.
If you want to take your money knowledge to the next level, these resources are a great way to learn the basics of the language of money.
Get Started Learning the Language of Money Today
If you don't know the language of money, making any financial decisions can become much more confusing. You could also make the wrong decisions. For example, when you're paying off debt, there's a big difference in terms of total debt paid and impact on credit score when you consider debt settlement vs. debt consolidation, even though they may sound similar.
Start using the resources available to you today to learn the financial facts you need to make informed choices. The decisions you make about saving, investing, and debt payoff will shape your future, so educate yourself today and you won't regret it.
A look into the world of debt relief seekers
We looked at a sample of data from Freedom Debt Relief of people seeking the best debt relief company for them during October 2025. This data highlights the wide range of individuals turning to debt relief.
Credit card tradelines and debt relief
Ever wondered how many credit card accounts people have before seeking debt relief?
In October 2025, people seeking debt relief had some interesting trends in their credit card tradelines:
The average number of open tradelines was 14.
The average number of total tradelines was 24.
The average number of credit card tradelines was 7.
The average balance of credit card tradelines was $15,142.
Having many credit card accounts can complicate financial management. Especially when balances are high. If you’re feeling overwhelmed by the number of credit cards and the debt on them, know that you’re not alone. Seeking help can simplify your finances and put you on the path to recovery.
Collection accounts balances – average debt by selected states.
Collection debt is one example of consumers struggling to pay their bills. According to 2023, data from the Urban Institute, 26% of people had a debt in collection.
In October 2025, 30% of debt relief seekers had a collection balance. The average amount of open collection account debt was $3,203.
Here is a quick look at the top five states by average collection debt balance.
| State | % with collection balance | Avg. collection balance |
|---|---|---|
| District of Columbia | 23 | $4,899 |
| Montana | 24 | $4,481 |
| Kansas | 32 | $4,468 |
| Nevada | 32 | $4,328 |
| Idaho | 27 | $4,305 |
The statistics are based on all debt relief seekers with a collection account balance over $0.
If you’re facing similar challenges, remember you’re not alone. Seeking help is a good first step to managing your debt.
Regain Financial Freedom
Seeking debt relief can be the first step toward financial freedom. Are you struggling with debt? Explore options for debt relief to regain control of your finances. It doesn't matter how old you are or what your FICO score or credit utilization is. Take the first step towards a brighter financial future today.
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Author Information
Written by
Maurie Backman
Maurie Backman is a personal finance writer with over 10 years of experience. Her coverage areas include retirement, investing, real estate, and credit and debt management.
Reviewed by
Kailey Hagen
Kailey is a CERTIFIED FINANCIAL PLANNER® Professional and has been writing about finance, including credit cards, banking, insurance, and retirement, since 2013. Her advice has been featured in major personal finance publications.
Credit Card Debt
