Do you consider yourself financially literate? According to a study by S&P Global, 57% of American adults are financially literate, ranking the U.S. 14th in the world. April is considered Financially Literacy month! Increase your financial understanding today!
Whether you’re a financial guru or consider yourself a newbie, here’s 3 ways to make a difference in your finances this April!
Pick & Learn
- Always wanted to understand how taxes work? Now’s the time to do so! Pick a financial topic and learn as much as you can about it for the month of April! If taxes aren’t your thing, pick another topic such as a mortgage, investing, annuities, and the list goes on. While you most likely won’t be an expert, you can feel more confident on your next financial decision!
See Where You Stand
- A lot can change in a year, from a new car payment to moving across the country, April is a great time to see how your unique circumstances have changed. Determine where you stand and see if you need to pivot your finances to better support your journey.
Create Long-Term Financial Plan
- While planning year-to-year when looking at finances is good, creating a long-term financial goal is great. Determine major financial goals such as purchasing a home, assign a cost, and develop a time horizon. Beyond financial goals, look at investments and portfolio volatilities to make sure they coincide with your current and future financial goals.
Financial Literacy Month is a great excuse to take extra time on finances and make sure you are on the right track toward your retirement and lifestyle goals. While these tips are a great start to any planning, speaking with a financial professional will help you get a better understanding of your unique circumstances and what is best for your goals.
Content derived from www.investors.com, www.autopayplus.com , and www.money.usnews.com
Disclosure: This information is provided as general information and is not intended to be specific financial guidance. Before you make any decisions regarding your personal financial situation, you should consult a financial or tax professional to discuss your individual circumstances and objectives.
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