How Can I Be More Financially Literate?

  • Financial Advice
  • April 22, 2019
  • FCU Team

We live in the age of instantaneous information.

From science to literature, news and politics, to entertainment and sports, we have almost immediate access to high-quality information.

When it comes to money, it’s no different.

Since April is Financial Literacy Month, it is a good time to find out where you can get credible information regarding your finances. It’s important to stay up-to-date on what could be impacting your money. Whether its tricks on saving cash, or info about global markets impacting economic trends on the macro-level, understanding all aspects of finance is important. 

It’s also important to remember that while financial education might be available almost anywhere online, you must always be wary of people out to scam or steal from you. In other cases, while the intent is not always malicious, there are plenty of instances where online articles and information are just flat-out wrong. Because of this, it’s a good idea to be cautious and not take everything at face value.

As the old saying goes, you can’t believe everything you read.

Resources that come from real financial institutions are usually credible, as the information they provide is most likely vetted for accuracy. You can typically trust known and recognizable institutions to provide correct information based purely on their reputation.

Likewise, websites that provide consistently accurate information may also be useful resources. You should initially read from unaffiliated financial resources with a skeptical eye, but with a large enough sample they can and should earn your trust by being correct time-and-time again.

How Do I Become Financially Literate?Make sure that you also read reviews and comments left by other users on the site. This shouldn’t be the only way to measure a site’s credibility, as comments are unable to be verified, but if dozens or hundreds of users are all leaving positive reviews, it is likely a good indicator of their reliability for information.

Our financial education partners at Balance provide a fantastic resource with a variety of financial information. They provide tips on a wide range of topics, such as how to budget, ways to get out of debt, the best way to maximize your tax return, and plenty of subjects that fall in between. For simple tips from Balance on how to master your money during Financial Literacy month, click here.

Our other partners at eFraud also have great resources for dealing with fraud, staying safe from potential scammers, and protecting your money. Take a look at their article on what to do if you suspect you’re the target of a phishing email.

Florida Credit Union also provides its own set of resources to keep members financially savvy. Articles like this published on FCU's blog webpage, like the one on better ways to manage your credit cards, are great sources of advice, tips, and ideas to stay on top of your finances.

Not to mention, our branches all have teams of specialists that can provide you with a personal financial assessment. For more information on this service, stop into your local branch or call us at 1-800-284-1144.

 

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