by Janice Forostiak, Marketing Department
Financial education is one of the core values of the Credit Union Movement. Personal financial literacy is more than just being able to balance a checkbook, compare prices or get a job. It also includes skills like long-term vision and planning for the future, and the discipline to use those skills every day.
In the US, we make great efforts to teach children to read and write, but we don't give their financial literacy the same attention. As a result, few young people know how to manage their personal financial lives.
This is a great time to ask yourselves: Am I saving enough money for an emergency fund, or for retirement? Life happens. And you want to be prepared for bumps in the road to avoid financial crisis. We recommend our members save 6-9 months living expenses. That's about the amount of time it could take to get another job if you were to become unemployed.
So, start now and do it regularly. Payroll deduction makes it easy, and you'll be surprised at how fast your money accumulates!
How can you become more financially literate? At Signal Financial, we promote financial literacy in a number of ways: via newsletter articles, links on Facebook to important financial tips, and now our informative blog! We also offer special savings clubs for youth to encourage financial literacy. And, our branch staff is always available to take extra time to answer your specific financial questions.
What else can you do at Signal Financial to improve your financial literacy? Encourage your children to join the credit union ... come talk with Members Financial Services about your retirement plans ... see our branch representatives about refinancing your debt ... and call us with questions about how to get started!
Take charge this month!
