Can I Learn Financial Modeling For Free?

In the tech-centered world, free learning resources are now so plentiful that you can learn basic financial modeling at no extra cost. These tools offer a convenient way to learn beginner skills and answer common questions but aren’t capable of providing advanced training. For career preparation, experts recommend seeking vocational training from a bootcamp or finance degree. With these caveats in mind, this article provides an overview of the free learning resources for financial modeling and offers strategies for using them effectively. As a bonus, you’ll also get some suggestions for where to go once you’re ready for more. 

What Free Resources Are Available for Learning Financial Modeling?

Fortunately for you, there’s no shortage of free financial modeling content floating about the Internet these days. These resources come in many formats, and you may need to experiment to determine if one style works better for you than another (watching a YouTube video versus reading a blog post, for example). Different formats can also be useful for different purposes. Tutorials can make it easier to learn technical skills like Excel, while online forums make questions a thing of the past, and other content helps you expand your financial literacy. 

Through notable vocational schools like Noble Desktop, you can participate in online finance seminars and short courses exploring topics like the stock market. You also can access more insights through Noble Desktop’s Financial Modeling Blog and video tutorials.

You can easily find free financial modeling tools with an Internet search, but if you’re an old-school learner who prefers the tactile feel of a real book in hand, there are plenty of free reading materials available through public libraries. Beginner-friendly books to consider checking out include Mastering Financial Modeling in Microsoft Excel, Valuation: Measuring and Managing the Value of Companies, and Foundations of Real Estate Financial Modeling. 

How to Make Use of Free Financial Modeling Resources

The first rule of free learning is that there’s always more than one way to use a resource. Thinking strategically about how you integrate free learning tools into your financial modeling education can help you get more out of them and become a better modeler in the process. 

Here are a few tried-and-true strategies to get you thinking:

• Use them to get comfortable with the basics. Free tools aren’t going to give you advanced training, but they can help you master simpler financial modeling skills such as finance terminology or making a pie chart with Excel. Since these essentials are among the most straightforward financial modeling skills, you may be able to learn them without participating in a paid class.
• Using them to get more out of class. Using free tools before and after a class can help the skills you learn translate more easily and stick better. You’re more likely to fall behind during the beginning portion of a course when everything is new, but you can avoid this fate by studying free introductory materials beforehand. Afterward, you can use free materials to review concepts you learned about in class so that they stick. 
• Turn to them for answers to questions. Regardless of whether you learn financial modeling at home or in a class, you’ll run into questions as you work on projects. At times when you don’t have an instructor handy to ask, free learning content can be a big help. There are mountains of online articles and videos tackling common questions. However, if you have a more specific concern, you can always turn to forums like Reddit’s r/financialmodeling for help. 
• Use them to supplement your training. Free resources can’t teach you intermediate or advanced financial modeling skills entirely on their own, but they’re a great option for filling in holes that may be left by other courses. For instance, you might be taking a financial analytics bootcamp that covers corporate finance and Excel, but maybe you also want to know a bit about the stock market. In this situation, you can hunt down a free tutorial or video about the stock market, and your problem is solved.

Limitations of Free Resources

Despite their convenience, free content is an imperfect vein to mine for knowledge, but if you’re aware of potential pitfalls, you can use free content to your advantage. In general, free learning materials are limited to small-scope beginner topics. In addition, it’s also important to be aware that not all free learning content is of the same caliber and it ultimately comes down to you to locate good sources. 

While an abundance of free resources isn’t something you’re likely to struggle with in the Internet era, figuring out which ones are worth your time can be a bit trickier. Regardless of their claims, a large fraction of blogs and YouTube channels are created by amateurs. This presents a problem if you want to avoid misinformation and bad habits. A good rule of thumb to remember is that you’re more likely to get reliable information if you stick to free content created by reputable education and finance platforms. 

If you’re hoping to learn intermediate or advanced financial modeling skills, free resources are going to let you down. Because they tend to focus on smaller aspects of financial modeling topics, you shouldn’t expect to gain a comprehensive understanding of a topic from a free tool. Add to this the fact that you’re essentially scavenging information from disorganized sources and you end up with a spotty understanding of financial modeling. Free content’s ability to offer thorough training is further limited by its inability to provide practical experience or feedback like a live class.

Consequently, whereas these tools are perfect for getting oriented to financial modeling basics, they can’t prepare you for a career. 

What to Do After Utilizing Free Financial Modeling Resources

If you’ve tapped all you can from the free content available to you and you’re still craving more, consider joining a live financial modeling course. In an instructor-supported environment, you won’t be faced with an endless hunt for patchy information. Instead, an expert will guide you as you learn new skills, ask questions, and seek feedback. You can find live financial modeling classes in many styles and formats, making learning possible for a range of goals and circumstances. 

Short Live Classes (For Those Who Want Condensed Training)

You may have heard of short financial modeling classes being referred to as masterclasses. Typically, you can complete a short class in a couple of hours, but some classes split training into several shorter sessions. Their compact size makes them a breeze to work into a packed schedule and can result in less information fatigue.

Fitting with their length, short classes typically hone in on smaller topics, offering less overall coverage than a longer course. Beginner subjects (like Excel) are the most common topics taken up by short classes, but you’ll also find classes exploring intermediate subjects like advanced Excel and coding languages such as SQL. Before joining a short intermediate class, however, be sure to check that you’ve met all the necessary prerequisites. 

Certificate Granting Programs (For Up-And-Coming Finance Professionals)

To succeed in a financial modeling career, you need professional experience with multiple financial modeling skills, and these aren’t things you’ll get from a short class. Certificate-granting courses were specially created to help you acquire skills and experience simultaneously. These bootcamp-style programs also offer career-boosting benefits like personal mentoring, job support, and portfolio feedback. 

Available both part-time and full-time, financial modeling certificates can take you from beginner to working professional in a matter of weeks to months. In addition to being one of the quickest options for learning financial modeling, these courses cost much less than a traditional college degree. 

To meet the needs of many different finance careers, there are a wide variety of certificate courses covering different sets of skills. If you look closely, you’ll likely find that even programs bearing matching names have differing curriculums. Furthermore, these courses come in multiple delivery formats and schedule arrangements.

If you want to knock all of your vocational training out in one course, look for training courses that are aimed at specific job roles, such as Noble Desktop’s Financial Analyst Training Program. These immersive vocational courses are the most comprehensive option (outside of college degrees) and cover numerous skills. In Noble Desktop’s course, you’ll gain real professional experience as you practice creating DSF and three-statement financial models for companies. While building a compelling job portfolio in collaboration with an expert mentor, you’ll become adept at Excel, accounting, valuation, market forecasting, and financial reporting. 

You may want to work on mastering one skill at a time, in which case joining a single-topic certificate course like Noble Desktop’s Excel Bootcamp may be preferable. In a class such as this, you’ll sure up your foundation by learning how to use a standard office tool to perform various tasks. In addition to creating basic spreadsheets, you’ll learn how to analyze numerical data to generate financial models. With strong Excel skills in tow, you’ll be more prepared to take up new finance skills. If you’ve taken other financial modeling classes, taking a shorter bootcamp can help you fill knowledge gaps to compete more effectively with other job candidates. 

As a case in point, Noble Desktop’s Financial Modeling Bootcamp can serve as a final capstone course for anyone who already has intermediate knowledge of Excel. Rather than wasting additional time and funds on repeating your earlier training, you’ll break into advanced Excel and learn how to harness corporate finance techniques to your advantage. After creating complex financial models for real businesses, you’ll have developed a well-rounded skill set appropriate for entry-level financial analytics work.