National Financial Literacy Month, and How it can Help You
Established in 2004, National Financial Literacy Month is an annual holiday that emphasizes the significance of financial literacy and the importance of financial education. In this post, we will define the history behind the holiday, practices to strengthen your funds, and valuable resources to increase your financial literacy.
What is National Financial Literacy Month?
As described by the Federal Emergency Management Agency, “Many people have experienced the challenges of rebuilding their lives after a disaster. In these stressful circumstances, disaster savings can help individuals, families, communities, businesses, and organizations bounce back quicker and start the road to recovery. The best way to prepare for a natural disaster is knowing the risks of where you live and saving for the unexpected. Here are a few tips to help you start, and strengthen, your emergency savings fund and budgeting:
- Prepare for the risks where you live. Personal financial planning helps families prepare for disasters both big and small.
- Create a rainy-day fund. Consider saving for disasters by setting aside money for unexpected costs including hotel stays, food, gas and insurance deductibles.
- Check your insurance coverage. Having insurance for your apartment, home or business property is the best way to be sure you will have the necessary financial resources to help you repair, rebuild or replace whatever is damaged.”
The History of National Literacy Month
Financial Literacy Month was proclaimed on April 1, 2021, holding events by organizations advocating the education of financial literacy among adults and young adults within the United States. Founded by The Jump$tart Coalition in 2004, the Holiday has long been proclaimed by the White House with joint resolutions accompanied and promoted alongside the U.S. Department of Education. Up until 2021, no U.S. president signed a declaration indicating the proclamation of National Financial Literacy Month: President Joe Biden officially commenced this proclamation on March 31, 2021.
Proclamation of National Financial Capability Month
iLendingDIRECT is passionate about empowering our clients, as well as future clients, with education allowing one to have understanding of their car loan/s and refinancing capabilities. Through our nationwide network of financial partners, iLendingDIRECT empowers clients by locating lower APR rates, reducing monthly auto loan payments, and often offering customers the opportunity to skip a payment . The concept of helping others is what iLendingDIRECT was founded upon: educating consumers with knowledge of how to improve their financial future is one way we plan to continue our promise.
Resources to Utilize for National Financial Literacy Month
iLendingDIRECT thrives by empowering our consumers with financial literacy, working with a multitude of clients daily. Below are valuable resources for your use to take the next step in your financial literacy:
- FDIC Consumer News – Tips on credit cards, loans, bank accounts, scams, money management, and more.
- Money Smart – An FDIC education program designed to assist individuals outside the financial mainstream understand their potential financial success by creating successful banking relationships.
- MyMoney.gov – Designed to teach Americans the basics of financial education, ranging from balancing your check book to investing in your 401k.
What would you do with an extra $132* in your pocket?
