Financial Literacy: Part 1

April is Financial Literacy Month! So even though you probably won’t read this until you’ve decompressed from the busy season, we thought it’d be a good idea to remind CPA’s, and those working on becoming a CPA, of the importance of spreading the word on financial literacy.

While the current economic crisis has reminded us of the importance of financial literacy, it can still be a daunting subject. We don’t expect CPA’s to verse the entire world on the intricacies of economic policy, but the wealth of knowledge CPA’s posses should not be limited to clients and colleges. The basic principles of personal finance apply to everyone, despite age or income, and who better than the trusted financial authorities to inform their friends and communities about healthy financial practices.

We’ve come up with 3 simple things you can do to spread the word on this important topic and we’ll be introducing them separately over the course of the coming weeks. First step:

Know Your Resources
The AICPA has tons of information available for people of all different ages and different stages in life. 360 Degrees of Financial Literacy contains guides and advice on everything from setting up a retirement plan to putting a household budget together. The Feed the Pig campaign goes another step further to suggest and encourage lifestyle choices that encourage a savings plan and planning financially for the future. They even have a campaign targeted to teenagers to instill good financial habits at an early age.

So be aware of the resources that are out there, so much work has already been done for you. You just need to know where to point others. Here are some additional resources:

Federal Reserve Education

US Government’s My Money
Jump Start Coalition for Financial Literacy

What are your favorite Financial Literacy Resources or Campaigns?

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