Financial literacy is essential to a financially secure future. That’s why, in 2004, US Senate Resolution 316 was passed, designating April as “Financial Literacy Month.” The goal of the resolution is to raise awareness about the importance of financial education in the United States and the serious consequences associated with a lack of understanding about personal finances.

What is financial literacy?

Financial literacy means “knowledge and competence of how to deal with money.” When people are financially literate, they understand financial topics like budgeting, savings, investing, and banking. However, this does not mean they will make the right decisions for managing their money. Financial behaviors play an essential role in one’s overall financial outcomes. Source  – https://www.financialeducatorscouncil.org/what-is-financial-literacy

How does financial literacy factor into Metrocrest Services’ Financial Empowerment program?

Financial literacy is a critical factor in our Financial Empowerment program. Before someone can change their financial behaviors, they must understand these behaviors. Metrocrest Services teaches people about financial goal-setting, budgeting, savings, debt, credit, and money management through individualized and group educational opportunities.

We know seniors have a unique set of needs, especially regarding financial concerns. Therefore, we offer tailored educational opportunities to address seniors’ financial issues, including fraud/scam prevention, managing money on a fixed income, etc.

Once the financial literacy foundation is set, people visit one-on-one with their financial coach to discuss personal goals for financial outcomes. These one-on-one coaching sessions give clients ownership and compassionate accountability for making a plan and taking action toward their financial goals.

The Financial Empowerment program is available to all of our neighbors (no matter your income level). If you, or someone you know, is interested in financial education or coaching, please call 972-446-2100. Click here to learn more. 

What can I do to help raise awareness?

Spread the word! Please share this blog post with friends and family. Also, make sure you follow Metrocrest Services on social media. We’ll be sharing tips and tricks for financial security throughout April.

Remember, it is never too early (or too late) to learn financial literacy and change your financial behaviors. If you’re a parent, consider taking time this month to talk to them about savings, banking, and/or money management. The Consumer Financial Protection Bureau has created some great financial education tools for kids of all ages.

If you are a senior interested in learning how to manage money on a fixed income, consider attending a senior financial education class. Click here for a list of upcoming classes.