April is Financial Literacy Month
What is financial literacy? It’s the knowledge that gives you the ability to use financial skills effectively. Financial literacy includes skills in personal financial management, investing and budgeting. Unfortunately, the most recent Financial Industry Regulatory Authority (FINRA) study done in 2018 showed that financial capability, stability and confidence have not improved over previous studies.
Does this study have you thinking about improving your financial literacy? We’ve put together a list of six free resources that can help you gain more knowledge:
- BancorpSouth Advice
At BancorpSouth, we provide our financial articles and tools to help you better manage your finances. From the birth of a child to college, home buying and finances during retirement, we cover the whole life cycle of financial education.
- How Money Smart Are You
The FDIC has 14 interactive online games to help test and educate consumers on financial education. Have fun playing games while learning at the same time!
- Consumer Financial Protection Bureau
This government agency is dedicated to protecting the consumer. From auto loans to student loans to frauds & scams and more, they offer a wide range of consumer tools online.
- MyMoney Tools
The government website MyMoney.Gov provides a long list of calculators for all different applications such as Tax Withholding, Compound Interest and Savings Bonds Future Values.
- America Saves - 54 Ways to Save Money
Some 56% of Americans are unable to cover an unexpected $1,000 bill with savings, according to a telephone survey of more than a thousand Americans conducted by Bankrate in January 2022. Don’t be a statistic. Commit to building an emergency fund through savings. Don’t know how? America Saves has 54 ways to save!