Financial Literacy Month
Financial literacy is the ability to understand and use financial skills, such as responsible money management, budgeting, saving, and investing for the future.
Let’s take a deeper look at Financial Literacy Month, and ways to become more financially literate. This way, we can manage our money responsibly all year long.
Why is financial literacy important?
Being financially literate is the first step in being financially fit. Consider these facts:
- Personal finance is the number one topic of argument within a marriage.
- Parents rank teaching financial responsibility to their children near the top of their parenting wish list.
- Only a handful of states require high school students to take a personal finance course before graduation.
- Poor financial literacy leads to poor decision-making, which leads to poor behavior, thus limiting the household’s ability to reach its goals.
Arming yourself with financial literacy is a crucial part of responsible money management and a financially fit life.
How financial literacy month is observed
During Financial Literacy Month, institutions, nonprofits, and human service agencies increase their focus on the importance of financial fitness through events, programs, and counseling. Find out which programs and events are available to you so you can take advantage of these opportunities.
First, reach out to your state’s department of finance, banking, or consumer affairs. Ask about possible programs. You can find a full list of these state departments here.
Finally, check out your local library to see what it has planned. Many libraries offer activities, lectures, and workshops on financial topics, like debt and credit management, for promoting financial education during the month of April.
How to observe Financial Literacy Month at home
There’s no need to depend on an outside program – you can observe at home:
- Make finance the topic of your book club. Choose a book related to money and talk about it at your virtual or in-person book club.
- Research one personal finance question each day. Look up the answer to one personal finance question each day of April, and at the end of the month, you’ll have amassed a ton of financial knowledge.
- Start reading a financial blog. There’s no shortage of blogs exploring financial topics. Browse through the most popular to find the blog that best speaks to you.
- Commit to a new financial goal. Financial literacy is all about using your knowledge to make better decisions. Use the opportunity of this month to commit to one financial goal in an area you find challenging. Choose your goal and make it happen!
Get financially literate this month and make better money decisions all year long.