Financial Literacy Month - Tips for Creating Financial Literacy for Yourself and Children
According to a recent survey of individuals 13 to 21 years old, only 26 percent said their parents taught them how to manage money. Additionally, “forty-one percent of U.S. adults, or more than 92 million people living in America, gave themselves a grade of C, D or F on their knowledge of personal finance, leaving substantial room for improvement.”
April is Financial Literacy Month and Family Mint strongly believes in the importance of teaching children about money so they can understand saving, investing, credit, etc. Financial literacy empowers children to make wise financial choices, meet financial goals as adults, and improve their quality of life.
Spring is a great time to review your finances and take a look to see where you are and how you can improve. Here are some great tips and resources for improving your family’s financial situation and also teaching your kids about financial literacy.
· 360 Degrees of Financial Literacy
A FREE program of the nation’s certified public accountants to help Americans understand their personal finances through every stage of life.
· Jump$tart Coalition for Personal Financial Literacy
Jump$tart is a coalition of diverse financial education stakeholders who work together to educate and prepare our nation’s youth for life-long financial success.
· Money as You Grow - 20 Things Kids Need to Know to Live Financially Smart Lives
Recommended as an initiative from the President's Advisory Council on Financial Capability. The initiative offers 20 essential, age-appropriate financial lessons—with corresponding activities—that kids need to know as they grow.
· Financial Literacy Assistance from Banks and Credit Unions
Many banks and credit unions offer great financial resources to help you get on track financially. Check with your bank or credit union to see if they offer any of these helpful resources:
- Online budgeting tools
- Certified financial counselors
- Money management tools
- Credit report reviews
- Housing counseling
- Debt management
- Identity theft precautions and solutions
- Financial education (publications, newsletters, toolkits, podcasts, calculators, and more).
FamilyMint is dedicated to helping parents improve financial literacy through their fun, educational, intuitive, and award-winning online money management application. FamilyMint has helped thousands of parents raise money-smart kids by teaching children about financial goal setting, and forming the types of financial habits and behaviors that will lead to financial success.
40 Financial Things You Should Know by 40…
Here are a top 10…
- How to create a budget.
- How much you should be saving.
- Your net worth.
- How much you make and how much you spend each month.
- How to get out of debt.
- What your credit score is.
- How to pull a free credit report.
- How much house you can afford.
- What constitutes a financial emergency?
- What your ideal retirement should cost.