April is National Financial Literacy Month in the U.S. It’s a time when nonprofits, government organizations, financial institutions, and other groups unite to promote financial literacy.
Here at Remitly, we’re committed to ensuring people have access to the information and resources they need to make smart financial decisions for their unique circumstances.
Below, we’ve rounded up some of our guides and tips to help you brush up on the basics or plan for a more significant financial move, like starting a business.
Read them in honor of Financial Literacy Month, and follow their advice to grow your personal finance knowledge and get on the path to better financial health.
1. How to Make a Budget in 4 Steps: Your Guide for 2024
Having a budget can be one of your most valuable tools to make your money go further. It’s the key to being savvy and efficient with your money.
While it can take time to figure out how to create a budget that works for you, doing so can provide you with a solid foundation for financial success and stability.
Covering topics like understanding different budgeting tactics (zero-based budgets, 50/30/20, or pay-yourself-first) and the tools to help you stick to your budget, this guide is a great personal finance resource to get you started.
2. How to Wire Money Online Safely
With the rise of online banking and digital money transfers, wiring money digitally has never been easier, but with that ease comes bad actors and scammers who often target young adults, older people, and immigrants.
Those who fall victim to scams can suffer poor financial outcomes, including losing their hard-earned money.
With the prevalence of scams, being able to spot risks is an important part of being financially literate.
For Financial Literacy Month, refresh your knowledge of protecting yourself from scams with a few additional steps, like two-factor authentication and opting for a data connection instead of shared Wi-Fi.
3. What is Inflation? A Quick Guide
Inflation remains high, and the average cost of living has increased, shrinking the purchasing power of families across the country.
You probably notice it when shopping for groceries or filling up the gas tank. But how is inflation defined, exactly? What causes it? We’ve got your answers in this guide.
4. Spring Cleaning with Your Finances: 6 Steps for a Fresh Start
Between creating or refreshing your family’s budget, utilizing budgeting tools, or setting up automatic payments to reduce late fees, you can make many adjustments to strengthen your financial foundation over time.
Check out more strategies to “spring clean” your finances with a few small tweaks.
5. Beginner Investing Guide: What You Need to Know
Whether you’re funding a retirement plan or you want to save for your child’s education, investing helps with long-term financial goals. Investing money today can help you build more savings over time, but it can feel overwhelming to start.
In our guide to beginner investing, we break down the process, jargon, and tools to help simplify investing and get started.
Other ways to build your financial knowledge
Many nonprofit organizations and government agencies offer financial education and financial literacy information online.
To help you increase your financial capability, we’ve created this roundup of helpful resources related to spending, credit and debt, banking, insurance, saving, and investing.
Spending
Whether you’re creating a budget in honor of Financial Literacy Month or looking for ways to shop smarter, these resources will surely come in handy.
Budget Worksheet
Created by the Federal Trade Commission (FTC), this handy worksheet makes creating a budget a whole lot easier. Simply download the PDF file and fill in the blanks to produce a plan that can help guide your spending.
Consumer.gov
Also from the FTC, this site provides valuable financial information related to managing your money, taking on debt, and identity theft protection. This personal finance information site is easy to explore, and it delivers facts in a way that is simple to understand, even if you’re new to financial management.
BBB AdTruth
Advertising can help you learn about products and services, but sometimes, advertisers take advantage of people’s lack of education, making bold claims that just aren’t true. This can lead to people investing their hard-earned income in disappointing purchases.
To help make consumers aware of these deceptive advertising methods, the Better Business Bureau created the AdTruth site. Visit it for an education on how to separate fact from fiction when you encounter ads in your daily life.
Consumer Advice: Shopping
In its Consumer Advice: Shopping hub, the FTC publishes articles on various topics, from hiring different types of professionals to understanding different financing methods. Check out the latest articles or use the search function to discover information about specific subjects related to shopping and your finances.
Credit and Debt
Debt is an important part of personal finances. While taking on some debt can help you accomplish goals like owning a home or a car, having too much can cause financial strain.
These resources can help you make more informed decisions about debt and assist you with paying off credit cards and loans.
Consumer Financial Protection Bureau
The website of the Consumer Financial Protection Bureau (CFPB) shares a wealth of information for consumers about debt-related topics. Visit the site to learn more about auto loans, credit cards, credit scores, mortgages, payday loans, and more.
Consumer Advice: Buying and Owning a Car
If you’re getting ready to purchase a vehicle, check out this financial education page put together by the FTC. It shares advice on everything from understanding car prices to comparing auto loan financing options.
AnnualCreditReport.com
In the U.S., you’re entitled to one free credit report each year. Checking yours can help you spot errors and fraud while giving you a clearer picture of how much you owe.
AnnualCreditReport.com is the official site authorized by the U.S. government to provide free annual reports. On the site, you can request your report, learn how to read it and find out what to do if you notice errors.
Credit Smart
If you’re hoping to own a home in the future or are in the process of looking for one to buy, the Credit Smart website from Freddie Mac is a valuable resource. The financial education site explores a range of topics related to homeownership and can help you make an informed decision about mortgages.
National Foundation for Credit Counseling
Credit counseling can provide a solution for people who are struggling to repay debts. The National Foundation for Credit Counseling explains what it is and its benefits on its official site. In addition, the website has a search feature to help you connect with experienced counselors in your area.
Banking
Opening a bank account is an important step for people hoping to become more financially literate and secure. These sites can assist you with opening accounts and understanding more about financial institutions like banks and credit unions.
HelpWithMyBank.gov
The Office of the Comptroller of Currency manages this site, which is filled with financial education information related to banking. Visit it to learn about different products your bank or credit union may have and to learn what to do if you ever have a dispute with your financial institution.
FDIC
The Federal Deposit Insurance Corporation (FDIC) protects you from loss if your bank ever experiences financial problems. On this site, you can learn more about FDIC coverage and determine how much of the money you have on deposit is covered.
Insurance
Insurance helps protect you from financial loss, so having the right type in place is important for your finances. The following websites can help you begin your education on all things related to insurance.
National Association of Insurance Commissioners
The National Association of Insurance Commissioners (NAIC) provides plenty of insurance advice and has a search tool that allows you to find licensed insurance companies in your area.
Healthcare.gov
If you need health coverage, visit Healthcare.gov to explore plans that can cover hospitalization costs, doctor’s visits, prescription medications, and more. The site also provides detailed information about health insurance terminology to help you compare plans.
Insurance Information Institute
The Insurance Information Institute (III) is a nonprofit organization dedicated to insurance education. On its site, you can find a wide range of buying guides and statistical information related to different types of insurance.
Saving for the future
Setting savings goals can set you up for a brighter financial future. The following websites include resources related to everything from opening a savings account to saving for different types of goals.
Social Security Administration
The Social Security Administration (SSA) provides authoritative retirement planning information. Using the calculators on the site, you can determine whether or not you’ll one day be entitled to social security benefits and get an idea of how much you’ll need to save to live comfortably once you retire.
America Saves
Whatever your financial objectives, the Consumer Federation of America’s website can assist you in developing a strategy to meet them. Select your savings goal to discover articles and handy tools to get started.
Retirement Savings Tool Kit
This downloadable guide from the Department of Labor can assist you in starting your retirement planning. It’s available in multiple languages, making it useful for immigrants.
StudentAid.gov
Financial Literacy Month is the perfect time to start thinking about saving for college for yourself or your children. The U.S. Department of Education’s website will explain various financial aid programs and introduce you to the subject of student loans.
Investing
If you’re hoping to invest in securities for your future, explore these sites during Financial Literacy Month. They provide an introduction to important investing topics and give you advice on how to invest wisely.
Treasury Direct
Treasury Direct is the online home of the U.S. savings bond programs. Visit the site to learn what bonds are and how to purchase them.
Investor.gov
The U.S. Securities and Exchange Commission (SEC) created the Investor.gov site as a financial education guide for beginning investors. Head there to get an overview of investing so you can make informed decisions about where you put your money.
Just for kids
Getting an early start with personal financial literacy can make a big difference in the lives of children. These websites are dedicated to teaching kids about things like the importance of saving and borrowing wisely.
Econ Lowdown
Econ Lowdown offers a wealth of information for schools and parents looking to educate high school students about financial topics.
Money Matters
Money Matters is a financial literacy program created by the Boys and Girls Club of America for high school students. Program versions are available for schools and at home, and you can access information about both on this website.
American Bankers Association
The American Bankers Association has multiple financial education programs for children and teens. Visit this site to discover financial education activities that are great for Financial Literacy Month and the rest of the year.
Financial Literacy Month FAQs
Have questions about Financial Literacy Month? Read on for answers.
What is financial literacy?
Financial literacy is the term for knowledge of personal finance topics. Being financially literate can help you secure your financial future, support household financial stability, and improve your overall well-being.
What is National Financial Literacy Month?
National Financial Literacy Month is an annual event that seeks to promote financial literacy among Americans. It’s a time when many organizations host financial education workshops and courses, and people are encouraged to take steps to increase their financial literacy.
What is the history of Financial Literacy Month?
National Financial Literacy Month began as Youth Financial Literacy Day, an annual event that strongly encourages the nation’s youth to learn how to manage money.
After seeing the success of schools running financial education programs for Youth Financial Literacy Day, people began pushing for an event expansion.
Some wanted to make the day a full month dedicated to financial education for the nation’s youth. Others thought expanding the celebration to promote financial literacy among adults and kids would be better.
In 2003, Congress adopted National Youth Financial Literacy Month. Then, President Barack Obama twice proclaimed April to simply be National Financial Literacy Month, shifting the focus to financial education for people of all ages.
Growing your financial literacy is a journey
Financial literacy is an ongoing process; there’s always more to learn about financial health and wellness. No matter where you are on your financial journey, make this April Financial Literacy Month when you prioritize your finances, better manage your spending, and learn more about topics that interest you.
For many immigrants, sending money back home is an important part of their personal finances, and Remitly is here to help with a money transfer service that is fast, easy, more transparent, and more affordable. Download the Remitly app to learn more.