During financial education month, credit unions, financial institutions, nonprofits, and other agencies increase their focus on the importance of financial literacy through events, programs, and counseling. This goal goes beyond helping people learn more about finances—it aims to help them actually improve their personal and household financial stability and success.
Why is Financial Education important?
- Personal finance remains the number one topic of argument within a marriage.
- Parents rank teaching financial responsibility to their children near the top of their wish list.
- Only a handful of states require high school students to take a personal finance course before graduation.
- Poor financial literacy leads to poor decision-making which leads to poor behavior and limits a person’s ability to reach their financial goals.
Benefits of Financial Education
- Ability to make better financial decisions
- Effective debt and money management.
- Better suited to achieve financial goals.
- Cost savings.
- Budgeting to create a correct balance among the basic uses of money.
- Borrowing responsibly to avoid the stress caused by debt.
How to Get Started
- Check out and read a personal finance book from the library.
- Take a webinar and share what you learned on your social media.
- Open a teen savings or teen checking account at Baltimore County Employees Federal Credit Union for your young adult (ages 13-17) to help them learn to manage their own money.
- Visit our Financial Education page to watch videos on money, banking, identity theft and fraud prevention and more!
- Read a children’s personal finance book to your kids or grandkids.
- Subscribe to a blog or podcast about a personal finance topic you either love or could use help with.