All Things Financial Planning Blog

April is Financial Literacy Month


In a Presidential Proclamation on March 31, 2011, President Obama established April as Financial Literacy Month, urging all Americans to use the month toward activities that will enhance their understanding of everyday financial principles and habits. The President responding to the devastating Wall Street meltdown, wanted American families to become more informed to allow them to make better financial decisions in their lives. What will you do during Financial Literacy Month 2012?

A good place to start is There are 22 Federal Agencies that have collaborated to create and provide unbiased information about any financial area starting with creating a simple budget or spending plan. I too, recommend that financial literacy start with the basics. Even in the most comprehensive financial plans, it is first important to find out about your money – where it comes from, and how you spend it. How you spend it, most often times leads to the area of credit and debt. Irresponsible use or lack of understanding credit and debt can derail any future goals you may have, such as planning for retirement or obtaining a future mortgage. And knowing your credit score is essential.

With the launch of the Consumer Financial Protection Bureau, consumers now have a resource to learn more about credit. The bureau’s Know Before You Owe program allows you to learn about credit cards, mortgages and student loans. The bureau also offers consumers the opportunity to file a complaint should you need assistance on a financial issue. The Office of the Comptroller of the Currency is also a good source through the website’s Financial Literacy Resource Directory.

Getting a good understanding of your money and how you spend it is an important first step to your own personal financial literacy, but don’t forget your own “personal” resources of information. Take this month to review and get a good understanding of your own bank statements and the fees associated with your accounts. Review you retirement plan statements or online resources and get educated about the investment options available to you. Finally a good source for all things financial is the Financial Planning Association’s own consumer website, There you can ask a financial question that is specific to your own personal situation.

There is a treasure trove of information available to the consumer who is committed to being financially educated. As we begin Financial Literacy Month 2012, start at the beginning and fully learn about your own personal finances. Improving your financial literacy is a good investment in yourself and your financial future.

Pamela SandyPamela Sandy, CFP®
CONFIANCE, LLC, Financial & Investment Advisors
Cleveland, OH

Author: Pamela Sandy, CFP®

Pamela Sandy, CFP® is founder of CONFIANCE, LLC, Financial & Investment Advisors. Since 1991 Pamela has offered her clients investment advice and financial planning services, but more importantly a professional partnership that centers on the belief that trust is the basis of any true relationship. The firm name, CONFIANCE is the French word for trust. Her clients include professionals, entrepreneurs, entertainers, and individuals living around the country and traveling abroad. She believes passionately that the financial planning profession is essential in the lives of not only the affluent, but those everyday individuals and families faced with important financial decisions affecting their lives. Based upon her belief that the financial planning community has a role to play in advocating for America's families, in June 2009 Pamela authored a white paper entitled, A Profession at Risk. The paper presented her view that the profession must use its collective voice to represent the interests of the investing public. She serves as a board member of the Northeast Ohio Chapter of the Financial Planning Association, where she chairs the Government Relations Committee, and is a member of the Public Issues Advisory Committee, a workgroup of the Financial Planning Association, national.

2 thoughts on “April is Financial Literacy Month

  1. Start with lessons on the stock market and interest rates. Using a compounding calculator, like the one is a fun way for kids to learn how their money can grow over the years if a small sum is placed into a savings account, CD, money market account, bonds or stocks.

  2. Pingback: Does your campus culture promote financial literacy? | FAST FACTS BLOG

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