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4 Ways to Improve Your Financial Literacy Today

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Free Tools For Understanding Finances Affinity FCU Blog
By: Oscar Cordoba
Manager External Affairs & Financial Education

April 26, 2023

April is Financial Literacy Month, an annual initiative aimed at improving the overall financial health of consumers. At Affinity, our goal is to provide our members with resources and tools that improve overall financial wellbeing, and the objectives of Financial Literacy Month are closely aligned with our mission. To us, financial literacy is something to commit to every single day of the year.

Financial literacy empowers individuals to better understand their financial life, gain more confidence in their financial decisions and, most importantly, achieve financial wellbeing. It provides essential building blocks to overall wellbeing and helps avoid unnecessary financial headaches and missteps. Without this foundation, individuals are exposed to undue risk in the financial moves they do - or don’t - take.

Having a strong understanding of your financial picture starts with arming yourself with the right tools, resources, and information. Here are four moves you can make today to improve your financial literacy.

Find educational resources that resonate with you. The financial landscape is vast and there are countless resources available, making it difficult to know where to start your educational journey. Seek out sources that resonate with you, your interests, and your needs. The information should be actionable and digestible. We cover a range of financial education topics on the Affinity blog1, including credit cards, personal banking, auto loans, personal finance and more. Affinity makes learning easy and convenient through Enrich2, a financial education platform available to its members. We also recommend sites like NerdWallet3, GoBankingRates4, HerMoney5 and US News & World Report6 as other strong resources.

Leverage technology and tools. Advances in technology have made it so that any question can be answered at the touch of a button. There is a wide variety of tools, apps, and other resources available to support financial management, budgeting, and education. The Affinity mobile app7 gives our members 24/7 access to their accounts and available resources, including online bill pay, fund transfer and more, meaning they always have a clear and convenient view on their financial life.

Subscribe to financial-focused podcasts. Podcasts offer the opportunity to listen to in-depth and incredibly detailed discussions from leading experts in the financial industry. Hosts will provide actionable advice and tips on issues that truly matter to your overall financial life. Affinity’s Wellbeing and Your Wallet podcast8 is a monthly podcast featuring three of our leaders discussing trends, topics and challenges our members are facing. The hosts also offer advice on advancing overall financial wellbeing.

Follow financial experts and influencers on social media. One of the easiest ways to improve financial literacy is to connect with the experts directly. These individuals can offer insight on trends and news that impact your finances. Some of our favorites include Vivian Tu9 and Nick Meyer10. While there are a number of great influencers on social media, be sure to do your homework on any advice they provide before putting their words into action.

Committing to advancing your financial literacy is an important and worthwhile endeavor, and one that will get you closer to your overall financial goals, whether it’s buying a home, saving for your children’s college, achieving retirement dreams or anything in between.

For additional financial literacy resources and details on how Affinity helps our members achieve financial wellbeing, please visit our website.

This information is for informational purposes only, is intended to provide general guidance, and does not constitute legal, tax, or financial advice. Each person’s circumstances are different and may not apply to the specific information provided. You should seek the advice of a financial professional, tax consultant, and/or legal counsel to discuss your specific needs before making any financial or other commitments regarding the matters related to your condition.

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