Since 2004, April has been observed as Financial Literacy Month to raise awareness about the importance of financial education. Schools, human services agencies, financial institutions, and employers all play essential roles in improving the financial literacy of their students, communities, and employees.
Financial literacy simply means having the understanding, knowledge, and skills necessary to make informed and effective decisions on financial matters. Education comes in a variety of formats – workshops, newsletters, videos – and can cover a range of topics, from investing basics to budgeting to maximizing your company’s retirement plan benefit.
Employers that invest in financial education for their employees may find that employees’ have a better understanding and a greater appreciation of their retirement plan, which can boost participation and contribution levels. By participating in worksite financial education, employees may also find it easier to set realistic retirement goals.
Well-defined goals are essential for creating an effective financial strategy. The acronym S.M.A.R.T. is a helpful tool in developing your goals:
Here’s an example of a S.M.A.R.T. goal:
Financial Literacy Month is an excellent opportunity to learn how small changes can make a big difference in your overall financial picture. The financial professionals at AssuredPartners Investment Advisors are ready to help you clearly define your SMART financial goals and implement a plan to attain those goals.
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