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How to Avoid Bankruptcy: Financial Literacy

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April is Financial Literacy month. Introduced by the National Endowment for Financial Education (NEFE) more than a decade ago as an activity of its High School Financial Planning Program; NEFE turned Financial Literacy Day over to Jump$tart to promote. Though targeted at youth, almost anyone seeking financial literacy can benefit from the wealth of financial literacy information available on Jumpstart.org.

The definition of financial literacy published in the National Standard for K-12 Personal Finance Education, by the Jump$tart Coalition, is: “the ability to use knowledge and skills to manage one’s financial resources effectively for lifetime financial security.”

This applies to everyone at every stage in life. It is never too late to get some financial smarts. But if you have kids, do them a favor and point them in this direction: The Jump$tart Coalition’s 12 principles. I’d be willing to bet adults will pick up a few pointers as well.

The Jump$tart Coalition Education Committee designed these principles to keep financial literacy a priority year round. Each principle is linked to the National Standards in K-12 Personal Finance Education. April’s topic was Understanding Taxes and in the coming months, they will be covering Financial Services, Credit Reports, Insurance Awareness, Understanding Credit and Investing.

Learn more about each principle by joining Jump$tart at 3 pm ET the second Tuesday of each month on Facebook Live. 

If you are already in over your head and are seeking financial alternatives, contact a certified bankruptcy attorney to get some options before it is too late. Call Jim Cossitt at 406-752-5616 to schedule a consultation.

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