Each year, Financial Literacy Month is celebrated during April. It’s a great opportunity to educate our clients and our communities about the importance of financial literacy and saving money.
During this month, Academy Bank and many other banks, credit unions, local businesses, and nonprofit organizations around the country will step up and share messages about financial literacy. Financial Literacy Month is a national campaign by the Jump$tart coalition.
Learn more about Financial Literacy and how financial readiness can start with savings.
Financial Readiness and Financial Literacy
We learned a lot of lessons in the past several years. And one that stands out is that we must be financially ready with our savings in order to be financially literate.
We must prepare for the unexpected. We must change our behaviors. Many of us are familiar with the expression: “The only constant in life is change.” What does it mean to be financially ready? It means having a safety net and a financial cushion ready to absorb the shock of a once-every-100-years occurrence -- or another unexpected event, such as a car accident or an illness -- which is, unfortunately, not as rare.
Being financially ready and saving money starts by setting a goal. And it’s not easy. If it were easy, anyone could do it -- but it takes discipline, commitment and sacrifice. Saving money can come in many shapes and forms. Here are a few examples:
- Set up an automatic transfer from your checking account to a savings account.
- Split your paycheck automatically between checking and savings accounts.
- Enroll in a retirement plan such as a 401(k) plan.
- Round up purchases to save money with the Savings Cents program.
- Pay off high interest credit card debt to reduce finance charges.
- Review your monthly budget and decide how you can eliminate unnecessary expenses.
What other successful methods have you implemented to save money? Share with us!
About Financial Literacy Month
The Jump$tart Coalition is a nonprofit organization with the mission of providing tools for financial literacy to Americans -- especially to our youth. Financial Literacy Month began as Youth Financial Literacy Day more than two decades ago. In 2000, it expanded to Youth Financial Literacy Month, before The Senate passed a resolution designating April as Financial Literacy Month for the entire U.S.
- Money Smart Week: From Saturday, April 15 through Friday, April 21, there will be live events, focusing on a variety of topics related to personal finance.
Financial Literacy Month Is Here!
While Financial Literacy Month draws special attention to saving and financial readiness during one month of the year, we encourage our clients to save and learn about finances all year round, every year.
At a time when people are filing taxes and receiving tax returns, we know instances are on the minds of many Americans. And we’re here for you, helping you enhance your quality of life -- one financial decision at a time.