Financial literacy month takes place in April of every year. First I’m going to share a little story about the power of financial literacy, then I’m going to share some resources to get you started on observing the month.
The Concert of a Lifetime
Monday, I went to the concert of a lifetime. Elton John and Billy Joel on the same stage. Our seats were about $215 each (after TicketMaster fees), but we sat in row S about 300 yards from the stage with a perfect view. We sat in what I like to call the “financially comfortable, middle-aged” section. And it was fantastic! 3.5 hours of nonstop music – all our favorites.
Was it the most frugal choice? No, of course not. It was cheaper than going to see Sir Elton in Vegas, but not cheap. However, we were completely comfortable spending that much money because of the performers. We were also able to pay for the tickets without creating credit card debt or delaying other financial goals.
A few years ago, we wouldn’t have been able to attend the concert without incurring credit card debt. Now that the debt is gone, we’re free to manage our money wisely, and still make room for the occasional splurge. Are you motivated to learn to manage your money yet?
What Is Financial Literacy?
Financial literacy isn’t knowing how to count money or knowing what a checking account is. It’s knowing how to manage money and taking control of your spending. This month, look to two resources for most of the information you need to take control of your money again.
The official Financial Literacy Month website features a fantastic 30-step process to teach you everything you need to know about managing your money. If you work through one simple step each day, you’ll be on your way to a lifetime of wise money choices. They also have an informative blog and you can sign a pledge to become financially literate – whether that means learning to budget or learning how hedge funds work.
The FTC launched a new website called Money Matters. This is your one-stop resource for important financial information like how to watch out for employment or housing scams, how to manage credit cards, and how to deal with debt. The FTC is here to protect you, the consumer.
If you want more resources, check out my list of recommended books and websites.
My pledge for this month is to learn more about the home-buying process because I’m in the process right now. I’ll be sharing everything I learned after I close on the house.
What do you pledge to do for Financial Literacy Month?