|
Guest Writer
April is National Financial Literacy Month, a time to focus on the importance of financial education and improving our financial literacy skills. With the impact of the pandemic still affecting the economy and many individuals struggling to make ends meet, it’s more crucial than ever to prioritize financial wellness.
Here are three actions you can take to advocate for and improve your financial wellness:
Educate Yourself on Financial Literacy
Financial literacy means having the knowledge and skills to manage your money effectively, make informed decisions about spending, saving, and investing, and avoid financial pitfalls. However, studies show that many Americans lack basic financial literacy skills, leading to poor financial decisions and high levels of debt.
Take the time to educate yourself on financial literacy, regardless of your income level. Start by understanding the fundamentals of budgeting, debt management, credit scores, and investments. There are plenty of free online resources and tools available that can help you improve your financial knowledge, such as personal finance blogs, podcasts, and books.
Consider taking a financial literacy course or workshop at your local community college or community center. Many organizations offer free or low-cost financial education programs, and you can learn valuable skills that can help you achieve your financial goals.
Practice Good Financial Habits
Once you’ve gained some financial literacy, the next step is to put that knowledge into practice. Good financial habits can help you build wealth, avoid debt, and achieve financial stability over time.
Here are some key financial habits to cultivate:
Advocate for Financial Literacy
Financial literacy is not just an individual issue; it’s a societal one. Lack of financial literacy can contribute to economic inequality, as those with lower incomes and less education are more likely to face financial hardship.
Encourage financial literacy in your community by:
Financial literacy is a critical skill that can help you achieve your financial goals, build wealth, and avoid debt. By educating yourself on financial literacy, practicing good financial habits, and encouraging financial wellness in your community, you can make a positive impact on your own finances and the lives of those around you. Let’s celebrate National Financial Literacy Month by taking action toward improving our financial futures.
P.S. – Did you know Cleveland will have its own Wealth Wellness Weekend this summer? Mark your calendars for July 21-23! Visit www.phebefoundation.org or follow @thephebefoundation on Instagram to stay up to date.
Affirm: I can be the change I desire.
By Ron Calhoun The City of Cleveland’s efforts to establish a resilient information technolgy (IT)…
Fairhill Partners 12200 Fairhill Rd Cleveland Saturday, July 20, 2024 9:00 - 2:30 p.m. Free…
By Sandra Kluk If you are passionate, committed and dedicated to taking an active role…
By Obie Shelton The heat was on, but the rain held off as more than…
This website uses cookies.