Did you know that April is National Financial Literacy Month? That’s right, there’s a whole month dedicated to increasing financial literacy. I like to think that around here it’s a 24/7 financial literacy marathon, but a lot of media outlets and finance blogs will be joining forces over the next few weeks to bring financial information to the masses.
One of the best resources will be the Financial Literacy Month website presented by Money Management International. Each year, MMI helps put together a great collection of articles, information, and tools to help people learn more about their finances and begin to make better decisions with their money.
Financial Literacy Month is the perfect opportunity for individuals and families to change their financial situation by learning about important financial matters like creating and managing a budget, paying down debt while saving for emergencies, and creating achievable financial goals.Â Here at Generation X Finance, we care about your financial future. We are committed to bringing you the financial education you need to reach your financial goals.
The following five steps will help you on the path toward financial wellness:
- Make a commitment.Â Changing your relationship with money is not an easy task; it takes hard work and a strong commitment. Visit FinancialLiteracyMonth.com and take the pledge to start on the path toward financial security.
- Assess your financial situation – A simple quiz can help you understand your current financial position.Â Knowing where you are today will help you determine the best path toward meeting your financial goals.
- Get organized – Getting your financial house organized is a great way to begin on a clear path toward financial wellness.
- Set priorities â’ Understanding the difference between needs and wants will help you establish financial priorities and set realistic goals.
- Live on a budget â’ Spending less than you earn is easier said than done, but a solid budget is the most important element of any successful financial plan.
This year, MMI has partnered with a number of financial websites and blogs to help bring this information to the masses and I’m proud to be a part of this effort. Starting April 1st and over the following 30 days, you’ll be able to take the 30-Step challenge and read tips from participating sites. Â In the meantime, you can do your part to help spread the word about Financial Literacy month by writing about it or talking about it on Twitter. They are using the hash tag #FLM to help highlight this event.
Author: Jeremy Vohwinkle
My name is Jeremy Vohwinkle, and I’ve spent a number of years working in the finance industry providing financial advice to regular investors and those participating in employer-sponsored retirement plans.