It’s always a great time to educate others on Financial Literacy—and it’s especially urgent for today’s youth. Financial literacy is critical given the uncertainty in which this generation was raised. In order to get the ball rolling for those seeking financial stability, here are five simple financial literacy tips that can lead to some measure of peace of mind.
Financial Literacy Hacks
- If you do not know your credit score, go figure out what it is.
- If you have no idea how much you spend, it is time to track your spending. There are tons of apps that you can use on your phone to do this.
- Double down on your emergency fund (have a year’s worth of expenses in case you ever find yourself without an income for the next year.)
- Set goals. Ask yourself, “What do I need money for in the short-term, mid-term, and long-term?”
- Pick the thing that bothers you the most right now and make a plan for it (e.g. if you have a lot of debt, now is the time to find a way to clean up your debt.)
Interested in additional hacks? Tracy Byrnes and I discussed a handful of useful hacks for Financial Literacy during an edition of #TalkandTaste on Instagram Live!