Happy Financial Literacy Month!
April is Financial Literacy Month, which means it is a fantastic time to review your finances and get a clearer picture of your current financial situation! You might be thinking, “That sounds like a lot of work…” But there are many small steps you can take to better understand debt, credit scores, and a variety of other factors that determine your financial situation.
Set a goal for yourself.
You might want to cut down on spending or start working on building an emergency fund. Whatever your goal may be, develop a week-by-week plan to help you accomplish that goal. Some helpful goals might be:
- Reviewing your credit score and working to reduce it
- Cutting spending on such things as groceries or entertainment
- Building an emergency fund
- Reducing your debt
- Developing your estate plan
- Budgeting for summer vacations
Not sure where to start? Consider using the stoplight system to analyze your bank statements. The analysis allows you to easily see spending and saving patterns, cut old or outdated subscriptions, update passwords on any financial accounts, and clean up old financial documents.
Take advantage of free education.
The non-profit Money management International is offering free financial webinars every day during the month of April. Some upcoming classes include Budgeting (April 12), Creating Wealth (April 13), and Put Your Debt on a Diet (April 19).
Additionally, to stay up-to-date on financial news and advice, like ELM3 on Facebook!
