Angelique Ruzicka shares five ideas for how you can improve your financial knowledge and possibly boost your income.

Boosting your income, especially during a pandemic, can feel nigh on impossible, especially when costs are going up and you’ve been told there’s no potential for increases from your employer any time soon.

But the truth is we can all do with a bit of education, especially when it comes to our finances. If we dedicate some spare time in 2022 to brushing up our financial acumen, not only could it teach us a new skill we could use for life, but it could also make or save us money.

Here are five things you should consider doing in 2022 to sharpen your money-making nous and improve your bank balance.

1. Study to be a teacher

You could take a course to teach children English overseas. You don’t need a university degree – a TEFL qualification is globally accepted and will enable you to teach English abroad.

A TEFL qualification can be obtained relatively quickly. According to The TEFL Academy, the course can typically be completed within four to six weeks if done full time.

The course could cost you around R7 000, and while this can seem quite a big upfront payment, your future earning potential can be significant, depending on where you go.

According to the TEFL Academy, teacher salaries in Mexico average R28 000 to R46 000 a month, Spain R15 500 to R22 000 a month, and in Argentina teachers can earn between R14 500 and R22 000 a month.

You can also save on the course cost if you’re prepared to wait for key sales events. Last year, The TEFL Academy slashed 70% off its fees on Black Friday.

2. Take a free financial course

1Life’s Truth About Money course will teach you how to get out of debt and build your wealth. The financial education course is offered digitally and takes eight hours to complete. It costs R2 599 through Boston City Campus, but if you apply via truthaboutmoney.co.za, it’s free.

The course can be completed at your own pace and will also offer you lifelong access to online financial tools, information, and support after you finish the course.

“One of the things we stress is that it doesn’t matter how much you earn but becoming financially independent depends on how much money you keep,” says Hayley Parry, money coach and facilitator at 1Life’s Truth About Money.

The Franc app also offers a seven-part course for free that can help you to brush up on your financial knowledge. It covers themes and explainers like ‘Saving and Investing’, ‘Capital Growth and Income’ and ‘Understanding Interest’. Just click on ‘Academy’ from the top menu to access the course.

3. Read a book

There are plenty of books around that could help you brush up on your financial knowledge.

Brendan Dale is the author of ebook ‘How to pay off debt’, which retails for $12.50 (around R200).

Dale says: “This downloadable book takes you through the eight steps of paying off debt. It’s practical, manageable, and completely personalised to the reader’s unique circumstance.

“The book takes the form of a workbook with each chapter requiring specific outcomes before moving on to the next. The value is in working through the steps yourself, taking the knowledge, using the worksheets, and implementing real change in your finances.”

City Press columnist and financial journalist Maya Fisher-French’s book Money Questions? Answered! provides a comprehensive guide to all your money questions.

Maya shares her vast knowledge and uses her ability to explain financial concepts in an accessible manner to answer the most common questions she receives around managing money.

She also shares her own money journey from finding herself unemployed, with a new baby and a massive overdraft to financial security.

Don’t forget ensuring that your children improve on their financial knowledge too. Books like Mrs Spiggles and her Money Tales, (R200) by Jean Archary; Nala and the Invest Piggy Bank by Gugu Sidaki (R60) and More than Enough and Little by Little by Christina Castle are a good place to start.

4. Do a WordPress course

Ever wanted to create your own blog that you can make an income from? There are plenty of online courses out there that are free, but there are many that can set you back thousands of rands. According to WordPress, hiring a professional consultant can cost between $50 to $100 an hour (R789.75 to R1,579.51).

Scour the web for reputable courses that you can do for small fee or for free. WordPress itself offers The Blogging Basics course for $49 (R774) for the year, while vloggers like Tyler Moore offer free WordPress courses on YouTube.

5. Learn a second language

Some studies claim people make better decisions when they learn a language other than their mother tongue, while others say it can boost your memory.

According to language learning app Babbel, it can also lead to more job opportunities and boost your income. So not only do you become smarter if you learn another language, but you can become richer too.

App Duolingo teaches you to speak another language for free, but there’s a premium option where you pay a monthly fee to get an ad-free version.