The best finance degree for the 21st century is increasingly becoming a moot point, as many graduates find their skills have been diluted by the rise of online financial management software and financial education marketing platforms.
A recent report from the National Center for Education Statistics found that financial education students have been pushed out of the classroom by the proliferation of financial apps and online financial planning tools, but are increasingly turning to online resources like the Better Financial Management Institute (BFMI), which claims to offer students “financial independence, financial planning, and access to a comprehensive education.”
The BFMI offers online financial education that includes the creation of personalized financial accounts, personalized budgeting, a comprehensive financial education portfolio and portfolio tracking, and a detailed and up-to-date assessment of your finances.
The website even has an app that allows students to monitor their own finances and their peers’ finances and make money decisions.BFMIs founder, Paul Hovind, told Mashable that his site has been a boon to financial education since its launch in 2015.
“We have had students come from across the country, from all backgrounds, from across all income levels, all backgrounds,” he said.
“The BAM is a platform that helps students understand what they can do to improve their financial health and get more money for themselves.
Students can use the platform to track their finances, and if they are looking for the right college or career, the platform is a great place to start.”BFM I launched with a pilot program of 200 students and 500 mentors across 10 states, with Hovend saying that it has now grown to more than 1,000 students and has over 1 million downloads.
Hovend said that his company offers a “high-quality, high-impact program,” but added that he hopes to expand beyond just providing students with an online financial course.
“I think a lot of people are struggling with financial management,” he explained.
“They have to work to make ends meet, and financial planning is a key skill.
We have the tools to help them better manage their money.”
In addition to financial planning tips and tools, Hovon told Mashup, the site offers a comprehensive list of financial resources that students can access online, including the BFM I College of Business, Business Finance and Investment, and the BAM Institute.
Students can also take courses on the topic of financial education, including a four-week course titled “Financial Planning 101” that is designed to teach students about the basic concepts of financial management.
Hovall told Mash it is a “very interesting course.”
“We don’t have a lot to offer them,” he added.
“I think there are a lot more courses that are designed to be more interactive.”
While there is some evidence to suggest that students may have been underprepared for the financial world after graduation, the BFAI has a strong track record of helping students improve their finances through financial education and self-assessment.
It has also been credited with helping more than 5,000 American students improve financial health.
According to Hoval, the college has been instrumental in helping students navigate the online world, from financial planning and portfolio management to the creation and maintenance of a comprehensive portfolio.
“There is a lot going on in the world of financial planning,” he told Mash.
“We are working with our alumni and partners to create a financial education for every student that has a financial need.
We are working on a platform to help every student become an expert financial planner.
We see students as a resource, not just an asset.””
The BFA is a good place to get involved in financial planning because the content is comprehensive and very clear,” Hovin added.”
It helps you understand the fundamentals of investing and investing well, and also helps you to be able to plan a strategy for the future.
It’s very interactive.”
Follow Ryan G. on Twitter at @ryangwong.