Formal education will make you a living; self-education will make you a fortune. ~ John Rohn
Is there anything funner than earning money?
Well, I can think of one thing: Learning. Fortunately, the enjoyable activity of educating yourself often leads to an increase in income.
Dollar for dollar, my Bachelor of Science in Business Administration was the best investment I’ve ever made. But I can’t go running back to school every time I want to add to my existing skills or pick up a new one. Even a semester at a community college can cost thousands of dollars. Ain’t nobody got time for that.
So, what’s a gal to do?
Read a Non-Fiction Book. (I’m Not Kidding. Read an Actual Book.)
Obtaining a book and not reading it is about as helpful as going to the gym and not working out. Yet our bookshelves are cluttered with unread works. Our e-readers are stuffed with volumes we were excited about for all of 5 minutes.
Blogs are great.
Magazines are awesome.
Newspapers are wonderful.
But there’s something about a book. In 200 pages or so, you climb into the details of a specific subject matter that can’t possibly be covered in a 750 to 1,000 word article.
You can borrow a book from a friend, rent one from the library, grab one off your forgotten bookshelf, or – I struggle to even suggest it – buy one from a bookstore. (Yuck. I feel like I need to take a shower.)
I don’t care how the book in question comes into your possession. Just get one and read it – from start to finish.
Listen to a Podcast
I am shocked – SHOCKED I say – by the number of people who’ve never heard of podcasts.
They’re A.M.A.Z.I.N.G.
The great thing about podcasts is that you can listen to them on-the-go. Download your faves (for free) from iTunes or LearnOutLoud.com, upload onto your MP3 player, and get moving.
My favorite ways to devour a podcast is while performing a mundane task that doesn’t require too much brain power, e.g., commuting, cleaning, or exercising.
Volunteer
Giving back doesn’t have to be a totally selfless act. Really. It’s okay to get something out of volunteering besides the warm and fuzzies. Even when you’re helping other people, you can help yourself.
Why not help yourself to the development of a skill you can provide to a paying customer?
I’m astounded by the level of knowledge and professionalism possessed by my fellow volunteers. Additionally, program coordinators and directors of many nonprofit organizations are a wealth of information.
Find ways to get involved by searching websites such as VolunteerMatch or United Way. You can also visit your local chamber of commerce’s website to search for nonprofits that focus on areas you’re interested in.
Watch a Video
After Steve Jobs dropped out of Reed College, he continued to drop in on classes that peeked his curiosity at his alma mater.
Nowadays, you don’t have to risk being revealed as an education stealing leech at your local university. At anytime and, practically any place there’s an internet connection, you can sit in on a virtual class taught by a professor at a world class institution.
Although I appreciate the organization and ease of navigation on Khan Academy, Udemy (partially free), and Academic Earth, YouTube EDU seems to be the most comprehensive. Just try not to get distracted by funny videos of fashion models falling on catwalks.
YouTube is also a great source for how-to videos produced by amateur masters – everyday folks who are insanely gifted at their craft.
Although not free at all, Craftsy offers affordable, high quality video tutorials about – what else – crafts: crocheting, knitting, quilting, jewelry making. Many courses are only $7.99. You can use the information on this site to save money on items you make yourself or make some extra cash by selling your wares.
As an added bonus, Craftsy is ripe for pinning. (For those who are late to the party, “pinning” is bookmarking a site/image on the popular social networking site, Pinterest).
Attend a Class Offered on SkillShare
Sadly, SkillShare isn’t free. 🙁 But unlike many of the other sources I’ve mentioned, it provides you with a chance to get in on real face-to-face interaction with members of your local community. If you were so inclined, you could advertise a class you teach yourself on the website.
Currently, SkillShare is only available in the U.S. Sorry, Canada.
What free or inexpensive strategies do you use to acquire additional knowledge or skills?
Shawanda Greene is a free thinking, frugal gal whose only vices are boxed wine, lip balm and money grubbing. You can find more of Shawanda's musings at 
itunes U! You made my day! I never realized this existed until I read this article. I am taking some courses next year at the graduate level, and although there are no specific pre-requisites, they do recommend you have some courses in psychology. I never did in my undergrad, so I’ll just listen to some of the courses for free instead!
I’m a big fan of the How Stuff Works podcasts. I go through phases where I listen to them on the daily, and I learn so much random stuff. I have a whole arsenal of useless information that I pull out, and people are always amazed at how I know it. Not that it ever serves any purpose, but it is interesting.
Everything can be found online. Depends on the industry, though, I guess.
Seriously, do they not have bachelor’s degrees in business/commerce in the States? I find it bizarre that everything seems to fall under Science (I’ve heard of people with a BS in journalism – WTF?)
Out of curiosity, what do employers think of self-acquired skills and taking online courses? Do they acknowledge them, or do they not believe in self-taught material? I remember a study a while back that said people with online degrees are generally badly prepared once they’ve finished their degrees.
I’m guessing people with online degrees are less prepared than those who’ve received traditional degrees because of the university they attended. Many traditional universities still don’t offer degrees entirely online. I wouldn’t be surprised if a lot of online degree holders received their degree from some shady, for-profit university.
Whether companies care where you got your degree from will likely depend on your job. For instance, I’ve known several IT professionals who have degrees from non-traditional colleges. Everyone I’ve worked with in the accounting profession received degrees from old fashioned universities. After you teach yourself a new skill, you should demonstrate to a current or prospective employer that you’ve acquired a new skill. For a current employer, that should be easy. Just start implementing your news skills where applicable. For a prospective employer, you can point to what you’ve done on previous jobs or freelance projects. Some interviewers will ask you really technical questions to test your knowledge of a particular area. If your responses are acceptable, you might convince them to give you the job.
Shawanda, excellent post and I bookmarked a few of your links.
I’m approaching 60 and I love learning now more than I ever have. I’ve been a blue collar worker all my life, but after watching Khan, I think I may want to attend college for a Chemical Engineering degree.
I just ordered a microscope and bought a welder yesterday for metal-working. I’m going to turn my garage into my own little laboratory.
What is great about the internet is that it’s win-win. Thank you for sharing.
Thanks, Michael!
Your interest in chemical engineering gave me an idea. Before deciding on a college major (or even a college), parents should force their high school kids to “attend” several virtual classes offered on websites like Khan academy. It’s better than sending your 17 or 18 year old off to school with no real sense of what their interests are.
Podcasts really can be terrific. I used to listen to them during my commute and it was a great way to turn what is normally wasted time into productive time. Though not PF related, my favorite podcast is Radiolab, which discusses everything from science to philosophy in an easily accessible way. I’ve gotten tons of conversation starting topics from listening to that podcast.
Around the Washington, D.C. area, where I live, it certainly doesn’t hurt to know what’s happening in politics. Since I refuse to pay for cable, I listen to the commercial-free podcasts of my favorite political shows. Of course, there’s no video for a lot of them, but I don’t need it. I just want to listen in on the witty commentary.
The Suze Orman Show is available for download, video and all, on iTunes. Again, no commercials.
Great tips – I would never have thought of volunteering as a way to update skills, but it makes perfect sense, not to mention looks great on a resume as well. Also, they’re not free, but you can sometimes also find inexpensive courses at your local community centers, which could be a good way to connect & network with others having the same goals/interests.
Great point. There are adult education courses offered throughout my county. They’re open to anyone, but residents receive a discounted rate. I keep telling myself I’m going to enroll in a course, but I can’t decide which one to attend. Too many good choices!
Just a reminder……If no one bought books (actually paid money for them)the authors would not be paid for their work. I’m not saying it’s bad to borrow or rent but please don’t slam those who pay money for someone’s hard work. You, as a writer, should understand that.
If I slammed people who paid for books, I’d be slamming myself. And that’s just nasty.
However, I don’t buy books from bookstores. They’re too expensive. I’m Team Amazon and Team ebooks all the way. Even though I borrow a lot of books from the library, I spend hundreds of dollars on books per year. Actually, I think I might have a bit of a problem. There must be a Facebook group for people who read 10 – 15% of the books they purchase.
I make a killing off reading non-fiction and watching youtube video’s. YouTube has definitely saved me when my sub par google search skills failed. My favorite on the list is volunteer. I’m increased a lot of skills that way as well.
Isn’t YouTube awesome? I learned how to style my hair due to the generous contributions of YouTubers. The trick is to actually do something with the information you learn.
When it comes to volunteering, I don’t understand why unemployed people don’t spend more of their time working for charities. It fills a gap in your resume, you network with other professionals, and you can learn skills that make you more marketable. It’s win/win all around.
I’ve learned a lot by reading books and newspaper! Now that everything is “free” on the internet, you can get a lot of information on several topics.
Another trick is to register to courses paid by your employer. Several companies have programs where you can update your skills for free. So far, I’ve taken Excel class, English class, my security course along with my CFP and MBA!
That’s pretty cool that your employer offers that benefit. I’ll bet many companies would pay for employee training if you made a compelling case for how it benefits the company. My former employer used to pay for my CPE courses. If they wanted a CPA on the team, it made since to help me keep my license active. Even though the company paid for my CPE courses, I still tried to negotiate a good deal. And I let them know that.
I think it’s smart from employers to pay for your employees’ training. I’ve been a good and loyal employee for the past 9 years and having all my courses paid was definitely one of the reasons why I’m staying!