April is Financial Literacy Month!

April is Financial Literacy Month!

April 03, 2024

Knowledge is having the right answers. Intelligence is asking the right questions. Wisdom is knowing when to ask the right questions.- Unknown

 

Let’s face it, a lot of us are uncomfortable with our level of financial savvy.  When you add emotions, and emotional intelligence to the intellectual knowledge needed to make sound financial decisions even the most equipped investor can get overwhelmed.  April is financial literacy month and we at FWMG challenge you to up your financial knowledge keeping these 2 things in mind.

 

  • Talk about it.

 

It’s ok to talk about money.  It’s ok to ask questions.  Seek information, clarification, and feedback from a professional you trust.  Talk to your children about your money story and things you’ve learned along the way.  Ask them about their budding story.   Not only do these kinds of conversations build relationship, and community, but they also serve to teach.  They teach information (what is compound interest?  What does your credit score mean), and they teach people about themselves emotionally.  Having these conversations helps people identify what is important to them, and internalize information about who they are and their internal decision making process.   This leads to financial, physical, and intellectual prosperity and well-being.

 

  • It’s ok to make mistakes

 

You will make mistakes.  Everyone does.  Albert Einstein said “A person who never made a mistake never tried anything new.”  We at FWMG hope you try new things often.   We hope you experience life fully.  Becoming proficient at something requires experience and experimentation.  Experimentation is an extremely effective way to generate and analyze information, and is an important part of increasing knowledge and literacy. 

 

This April do one thing to increase your financial literacy.   Google that financial term you’ve been fuzzy about.  Have that conversation with your kids about taking on student debt to finish your post graduate studies.  How did you come to that decision?   What did it feel like for you?  As always, if we can be of support, please reach out.  We love talking about compound interest!!

 

Happy Spring!

Your Family Wealth Management Group Team