Next week is national money smart week, a national effort to help raise financial literacy across the country. Research has proven that people are more financially secure when they develop a strong foundation of financial skills. Being money smart starts with foundational principles and builds upon this basic knowledge. No matter one’s stage in life, there is the opportunity to develop your financial IQ.
Numerous studies have proven that children who get a basic understanding of financial concepts early in life are much less likely to have financial difficulties later in life. It may be surprising how many opportunities that parents have to teach their children about financial matters early in life.
We have heard them our whole life and some even try to live by them, but do we really know what they mean? Understand how we can put some of these financial words of wisdom into practice can be very helpful for long term financial success.
A credit score is a concept that most consumers don’t fully understand and often don’t realize it is used more than just by financial institutions. Understanding what a credit score is and how it is used can be extremely important. It is also important to understand the difference between a credit report and a credit score.
People who are in financial distress typically don’t realize there is a problem until it is too late. Like many of life’s difficult situations early detection is the best way to avoid serious consequences. Knowing the warning signs and the financial behaviors that can lead to financial concerns is the best way to keep your finances on the correct path.
The IRS is estimating that over 100 million people will receive a tax refund in 2016 out of an estimated 150 million tax returns to be filed. Chances are pretty high you will receive a tax refund so the next question is what will you do with it?
The month of March provides a few unique ways to save money and is also a good time to review a few of the prior months’ financial activities. Making the right choices can lead to big savings on your spending activities.
The current market conditions can certainly make us all a little nervous about investing and perhaps lead us all to question our strategy. Following a few basic tips can be helpful in these turbulent times.