April is Financial Literacy Month. Every year state and federal agencies, financial institutions, non-profit organizations, schools, and businesses take part in efforts to highlight the importance of financial literacy and the need for financial education. This national campaign promotes financial wellness and the importance of money management.
Financial education helps individuals learn how to earn, borrow, spend, invest, and save money wisely. Financial education is needed for both youth and adults to have a secure financial future. Adults who are financially educated are better prepared to make substantial financial decisions such as buying a house or financing an automobile. These skills are key to achieving short and long-term financial goals that improve one’s financial well-being.
Financial education is the first step in becoming financially literate. Financial literacy is the knowledge, skills, abilities, and behaviors needed to make good financial decisions. These decisions are instrumental in achieving financial security. With over fifty percent of Americans living paycheck to paycheck, the need for financial education is increasingly evident.
Here are a few financial education resources to improve your financial literacy.
- Spending and saving: https://www.smartaboutmoney.org/Courses/Money-Basics/Spending-And-Saving
- Credit scores and credit reports: https://www.consumer.ftc.gov/articles/0152-credit-scores
- Debt and credit: https://www.smartaboutmoney.org/Courses/Money-Basics/Credit-and-Debt
- Financial well-being: https://www.smartaboutmoney.org/Courses/My-Financial-Well-Being-Plan
- Investing: https://www.smartaboutmoney.org/Courses/Money-Basics/Investing
- SMART financial goals: https://www.smartaboutmoney.org/Portals/0/Worksheets/NEFE-smart-about-money-activity-SMART-Goals-Worksheet.pdf
- Budgets: https://www.consumer.ftc.gov/articles/pdf-1020-make-budget-worksheet.pdf
- Savings: https://americasaves.org/
- Mindful Spending worksheet: https://www.smartaboutmoney.org/Portals/0/Worksheets/NEFE-smart-about-money-activity-Mindful-Spending-Worksheet.pdf?ver=2016-10-12-164324-227
- Spending Detective worksheet: https://www.smartaboutmoney.org/Portals/0/Worksheets/NEFE-smart-about-money-activity-Spending-Detective-Worksheet.pdf?ver=2016-10-12-164328-537
References National Financial Educators Council (2021, April) Retrieved from https://www.financialeducatorscouncil.org/financial-literacy-for-adults/ Smart About Money Worksheets (2021, April). Retrieved from https://www.smartaboutmoney.org/Tools/Worksheets Federal Trade Commission (2021. April) Retrieved from https://www.consumer.ftc.gov/ America Saves (2021, April). Retrieved from https://americasaves.org/