As March comes to an end, it’s time for consumers and financial institutions alike to start thinking about April, which has been deemed Financial Literacy Month!
For over a decade, Financial Literacy Month has been backed by many organizations including the National Foundation for Credit Counseling, Money Management International, and the United States Congress, among others. The overarching goal of Financial Literacy Month is to educate consumers on managing their money effectively.
A 2014 survey from the NFCC found that 61% of U.S. adults admit to not having a budget and 41% of U.S. adults give themselves a grade of C, D or F for their knowledge of personal finances.
These two statistics alone provide great evidence as to why there is a need for a month dedicated to teaching consumers about financial literacy. Financial Literacy Month also serves as an excellent platform and opportunity for financial institutions to connect with current and potential members or customers to offer insight, support and services to help them get on track to leading a more financially stable life.
Tell us: Is your financial institution already doing something to promote financial literacy or do you have plans to celebrate Financial Literacy Month? If so, we’d love to hear about it and feature it as one of our FI Highlights during the month of April! Simply fill out the form to be considered.