According to Wikipedia, Financial Literacy is defined as follows: “the ability to understand how money works in the world: how someone manages to earn or make it, how that person manages it, how he/she invests it (turn it into more) and how that person donates it to help others. More specifically, it refers to the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources.”
When money is tight and worries set in our mindset changes. We start to think in the “why did I?” and “what if?” frame of mind, which not only adds negativity to the situation but also doesn’t help us escape from it. There’s no doubt that making mistakes can teach us lessons. However, if we dwell on the past and worry about the future, we’re not focusing on the present which is where we need to be in order to make positive change.
Back in March of 2004, a Senate resolution was passed designating April 2004 as Financial Literacy Month. According to FinancialEducatorsCouncil.org, every year the Senate votes on this resolution which states: “…that the President issue a proclamation calling on the federal government, States, localities, schools, nonprofit organizations, business, other entities and the people of the United States to observe the month with appropriate programs and activities.”
As part of Financial Literacy Month, we are testing your financial knowledge! Are you confident about your finances? Take our quiz to find out if you’re a financial expert or if you need a little help with some financial basics. If you need help, don’t worry – we have some tips for you.
Take the quiz!
For some of us it might be an “ugh!” For others a “yay!” It all depends on whether you owe money to the government or it owes money to you. With Tax Day approaching, there are a few deductions you might not know about that we’d like to share – hopefully, they can help change an “ugh!” into a “yay!”
Managing one’s finances can be a challenging undertaking for some people. Lack of time, not being comfortable with money and getting confused by unfamiliar terms and concepts are several reasons why some people avoid this important aspect of their daily lives.
We’ve all been there… a job loss, medical bills, credit card debt or an unexpected expense. Just one of these situations is all it could take to send us flying into a whirlwind of financial stress and worry. This ends up affecting our financial and physical well-being and is best to be dealt with on a “sooner rather than later” basis.
Before talking about the pros, cons and potential money savings a home warranty can offer, it’s a good idea to know what a home warranty actually is.
A home warranty is a contract (usually a one-year term) that helps cover the cost for the repair or replacement of many home systems and appliances. There’s quite a variety of home warranties available today, which is why researching different companies and learning about what they offer is an important part of the home warranty selection process.