The Value of Financial Education
April is Financial Literacy Month, which was created by a senate resolution in 2004 to raise public awareness about the importance of financial education in the United States. This month was conceived of to combat Americans’ struggle with financial literacy and their lack of exposure to personal finance during their formative years. The primary messaging of this month emphasizes the importance of planning for a secure financial future. It can also be a time to review your personal finances and begin to improve them. In light of Financial Literacy Month, your KerberRose Trusted Advisors are taking the opportunity to discuss the importance of financial literacy and how to raise your financial IQ.
Why Financial Literacy is Important
The importance of Financial Literacy Month is underlined by recent mandates and debates surrounding the topic, as well as some troubling statistics:
- As of April 2022, only seven states mandate a personal finance course for high school graduation. Currently, there are 43 bills in 21 states to mandate schools teach financial literacy as their own courses.
- 65% of Americans believe schools should provide financial education.
- 89% of Americans believe a lack of financial literacy leads to social issues such as poverty, lack of job opportunities, unemployment and wealth inequality.
How to Educate Yourself
While many states don’t require formal education about personal finance, it’s never too late to begin educating yourself. Improving your financial literacy skills can seem overwhelming and it is an ongoing endeavor, yet there are a few easy steps you can take to begin improving your financial health, including:
- Each month, create a budget to track how much money comes in (your income) and how much money goes out (your expenses). Consider breaking your income and expenses into groups, such as savings, rent, utilities, incidentals, etc.
- Determine a savings goal and set that amount aside each paycheck before allocating money elsewhere.
- Pay your bills promptly and consider setting up automatic debits from your checking account, bill pay apps and payment reminders.
- Regularly monitor your credit score. This will allow you to stay on top of your finances while catching any potential issues or disputes.
- Take advantage of free educational resources from websites such as the Federal Deposit Insurance Corporation’s Money Smart financial education program and Gov.
- Work with a financial professional to ensure you are on track to meeting your goals.
How We Can Help
Remember, improving your financial literacy is an ongoing process, which will set you up for future financial success. If you feel your education overlooked this important topic, it’s always possible to begin educating yourself and working towards financial health. Even if you are further along on your financial wellness journey, it’s essential to continue to educate yourself on topics, such as investing and financial planning, etc.
No matter what stage you are at, it may be beneficial for you to consider working with a financial professional, such as a KerberRose Wealth Management Advisor, to streamline your success and help ensure your understanding of financial topics. We offer a wide array of customized wealth management and retirement planning services to help you achieve your financial goals. To learn more about how we can help you, contact your Trusted KerberRose Advisor today!
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The Value of Financial Education
April is Financial Literacy Month, which was created by a senate resolution in 2004 to raise public awareness about the importance of financial education in the United States. This month was conceived of to combat Americans’ struggle with financial literacy and their lack of exposure to personal finance during their formative years. The primary messaging of this month emphasizes the importance of planning for a secure financial future. It can also be a time to review your personal finances and begin to improve them. In light of Financial Literacy Month, your KerberRose Trusted Advisors are taking the opportunity to discuss the importance of financial literacy and how to raise your financial IQ.
Why Financial Literacy is Important
The importance of Financial Literacy Month is underlined by recent mandates and debates surrounding the topic, as well as some troubling statistics:
- As of April 2022, only seven states mandate a personal finance course for high school graduation. Currently, there are 43 bills in 21 states to mandate schools teach financial literacy as their own courses.
- 65% of Americans believe schools should provide financial education.
- 89% of Americans believe a lack of financial literacy leads to social issues such as poverty, lack of job opportunities, unemployment and wealth inequality.
How to Educate Yourself
While many states don’t require formal education about personal finance, it’s never too late to begin educating yourself. Improving your financial literacy skills can seem overwhelming and it is an ongoing endeavor, yet there are a few easy steps you can take to begin improving your financial health, including:
- Each month, create a budget to track how much money comes in (your income) and how much money goes out (your expenses). Consider breaking your income and expenses into groups, such as savings, rent, utilities, incidentals, etc.
- Determine a savings goal and set that amount aside each paycheck before allocating money elsewhere.
- Pay your bills promptly and consider setting up automatic debits from your checking account, bill pay apps and payment reminders.
- Regularly monitor your credit score. This will allow you to stay on top of your finances while catching any potential issues or disputes.
- Take advantage of free educational resources from websites such as the Federal Deposit Insurance Corporation’s Money Smart financial education program and Gov.
- Work with a financial professional to ensure you are on track to meeting your goals.
How We Can Help
Remember, improving your financial literacy is an ongoing process, which will set you up for future financial success. If you feel your education overlooked this important topic, it’s always possible to begin educating yourself and working towards financial health. Even if you are further along on your financial wellness journey, it’s essential to continue to educate yourself on topics, such as investing and financial planning, etc.
No matter what stage you are at, it may be beneficial for you to consider working with a financial professional, such as a KerberRose Wealth Management Advisor, to streamline your success and help ensure your understanding of financial topics. We offer a wide array of customized wealth management and retirement planning services to help you achieve your financial goals. To learn more about how we can help you, contact your Trusted KerberRose Advisor today!
The Value of Financial Education
April is Financial Literacy Month, which was created by a senate resolution in 2004 to raise public awareness about the importance of financial education in the United States. This month was conceived of to combat Americans’ struggle with financial literacy and their lack of exposure to personal finance during their formative years. The primary messaging of this month emphasizes the importance of planning for a secure financial future. It can also be a time to review your personal finances and begin to improve them. In light of Financial Literacy Month, your KerberRose Trusted Advisors are taking the opportunity to discuss the importance of financial literacy and how to raise your financial IQ.
Why Financial Literacy is Important
The importance of Financial Literacy Month is underlined by recent mandates and debates surrounding the topic, as well as some troubling statistics:
- As of April 2022, only seven states mandate a personal finance course for high school graduation. Currently, there are 43 bills in 21 states to mandate schools teach financial literacy as their own courses.
- 65% of Americans believe schools should provide financial education.
- 89% of Americans believe a lack of financial literacy leads to social issues such as poverty, lack of job opportunities, unemployment and wealth inequality.
How to Educate Yourself
While many states don’t require formal education about personal finance, it’s never too late to begin educating yourself. Improving your financial literacy skills can seem overwhelming and it is an ongoing endeavor, yet there are a few easy steps you can take to begin improving your financial health, including:
- Each month, create a budget to track how much money comes in (your income) and how much money goes out (your expenses). Consider breaking your income and expenses into groups, such as savings, rent, utilities, incidentals, etc.
- Determine a savings goal and set that amount aside each paycheck before allocating money elsewhere.
- Pay your bills promptly and consider setting up automatic debits from your checking account, bill pay apps and payment reminders.
- Regularly monitor your credit score. This will allow you to stay on top of your finances while catching any potential issues or disputes.
- Take advantage of free educational resources from websites such as the Federal Deposit Insurance Corporation’s Money Smart financial education program and Gov.
- Work with a financial professional to ensure you are on track to meeting your goals.
How We Can Help
Remember, improving your financial literacy is an ongoing process, which will set you up for future financial success. If you feel your education overlooked this important topic, it’s always possible to begin educating yourself and working towards financial health. Even if you are further along on your financial wellness journey, it’s essential to continue to educate yourself on topics, such as investing and financial planning, etc.
No matter what stage you are at, it may be beneficial for you to consider working with a financial professional, such as a KerberRose Wealth Management Advisor, to streamline your success and help ensure your understanding of financial topics. We offer a wide array of customized wealth management and retirement planning services to help you achieve your financial goals. To learn more about how we can help you, contact your Trusted KerberRose Advisor today!