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It's Financial Literacy Month!

What is National Financial Literacy Month?

In 2004, the U.S.Congress designated April as National Financial Literacy Month, also known as National Financial Capability Month. Each April, Federal and State agencies, credit unions, schools, nonprofit organizations, businesses, and other entities observe National Financial Literacy Month to raise awareness about the importance of financial literacy education in the United States and the consequences that may be associated with a lack of understanding about personal finances.

Why is Financial Literacy Important?

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Financial literacy is key to understanding how to save, earn, borrow, invest, and protect your money wisely. It is also essential to developing short- and long-term financial habits and skills that lead to greater financial well-being.

Becoming financially literate could be as simple as:

  • Using a budget worksheet to determine which expenses are flexible or fixed, as well as,
  • Ensure you have enough emergency savings to prepare for unexpected expenses; or
  • Pulling your credit report once a year to make sure the information is accurate, complete and up-to-date and you are not a victim of identity theft.
Shared from www.mycreditunion .gov

Chattanooga First Federal Credit Union is here to help you become more financially literate by sharing helpful tips and tools!

Alese Maples