Knowledge and Insights

In an age where few things are still taboo topics, we need to recognize how life-changing it can be to talk about and learn about money. In 2004, Resolution 316 was passed in the U.S. Senate, recognizing April as National Financial Literacy Month. The recognition is an attempt to improve personal financial well-being and reduce the stigma attached to talking about personal financial health.

Today, Americans carry more than $2 trillion in consumer debt and 30 percent of consumers report having no extra cash. With these startling figures, how will a third of the country’s population break the cycle of living paycheck to paycheck? Financial concerns don’t just remain closeted for the individuals affected. The International Foundation of Employee Benefit Plans says more than 20 hours of productivity are lost per month for financially stressed employees. That’s nearly 300 hours per year!

Employers with successful financial education programs have found financial education doesn’t need to be time-intensive or sophisticated in order to be effective. 84% of employer offering financial education held programs during normal work hours (think ongoing lunch-and-learns). Methods also included in-person classes, newsletters, emails, workbooks, online resources and courses, free personal consultations, and more. Many steps have been taken to improve the lives of employees over the last hundred years and financial education is the next big step toward the future of hard-working and happy employees.

National Financial Literacy Month is a great time to learn a few new techniques to add to your personal financial tool kit to help you as you navigate the year. This April, we’ll be expanding on last year’s 30 Days of Financial Literacy and focusing on financial deep-dives. These topics will include quizzes, worksheets, and a few different points of view to help you get your finances on track.

Some of the topics we’ll cover in April:

• Assessing your financial situation and dedicating yourself to making a change
• Calculating your net worth and making your money count
• Setting priorities and reducing debt
• Setting ranged financial goals, and more!

Visit Mercadien Foundation during April to get on track and in charge of your money!