207 Welcome To April, National Financial Literacy Month

April brings about new opportunities and is recognized as National Financial Literacy Month for its 19th year, and there are quite a few reasons why the designation is as important as it ever has been.

First things first, the pandemic is coming to a close, and know that it wreaked havoc across the globe. The loss of life has been staggering, and the financial impact of Covid-19 continues to be felt in every corner of the world.

In March the Federal Reserve increased the interest rates and will do so six times in 2022. In the United States, inflation has been increasing at rates not seen in the last 40 years, with the current, and the awful Russian invasion of Ukraine escalating entire financial sectors that were already teetering. Already rising fuel and energy prices have skyrocketed overnight due to the conflict and the ban placed on Russian oil imports by the United States. Households will want to learn how to combat inflation to offset some of the adverse impacts of rising costs.

We hope you will commit to increasing your own personal financial literacy. Here are a few ideas to consider:

• Check out and read a personal finance book from the library
• Tune into one financial literacy webinar a week throughout April and share what you learned on your social media pages
• Read a children’s personal finance book to your kids, grandkids, nieces, or nephews.
• Subscribe to a new blog or podcast about a personal finance topic you either love or could use help with, start with Wealth Academy Podcast.

Three Steps to Take Full Advantage of Financial Literacy Month

• Connect financial education to the discipline and teaching of your child
• Make financial literacy the topic of your book club
• Ask and research one financial question a day

Here are some reasons why Financial Literacy Matters

• Personal finance remains the number one topic of arguments within a marriage.
• Parents rank teaching financial responsibility to their children near the top of their 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 which limits the household’s ability to reach its financial goals.

Through it, all celebrate Financial Literacy Month by participating in events in and around the area where you live. Do not make it a one-time event, rather make financial literacy a lifestyle and enjoy the fruits of this all-important event. Have a great day.

Discover more about Paul's virtual Financial Fitness course at this link, it is being offered at a 50% discount throughout the month of April, learn more about it at this link:  https://bit.ly/3dbperG