It's Financial Literacy Month: How educated are your clients?
By Lauren McNitt
April is Financial Literacy Month, and it’s a great time to do your part to educate your clients on how to build a stable financial future.
Americans as a whole are at a serious disadvantage when it comes to planning for a secure financial future, according to the 2012 Financial Literacy Survey released this month by the National Foundation for Credit Counseling and the Network Branded Prepaid Card Association.
For instance, the survey found:
- 56 percent of U.S. adults admit they don’t have a budget
- One-third of Americans don’t pay their bills on time
- Two in five say they are saving less now than a year ago
- 25 percent of individuals who do not have non-retirement savings said if they did begin to save, they would start by keeping their savings in cash at home
Some suggestions for how to take advantage of Financial Literacy Month to educate your clients:
- Make a list of helpful tips for your clients on, for example, saving for retirement, ensuring they have enough life insurance, tax reduction strategies, or ways for them to begin educating their children about financial responsibility.
- Send out an e-newsletter with these helpful tips.
- Write a blog with the same tips and share it on your Twitter, Facebook, and other social media pages.
- Create a free Webinar that your clients can refer back to at any time.