Financial Literacy Month is not only a celebration, but also a challenge to take care of your finances as best you can. This month can be your opportunity to review your finances and take a concerted approach to improve them. But what’s the origin of this important month?

Financial Literacy Month was first recognized in the US in April 2004 to highlight the importance of proper financial practices. This month is designed to raise awareness for financial best practices and to encourage people to learn about the ways and techniques that can help them become financially smart and achieve financial comfort.

In fact, there was a governmental effort behind instituting this month to commemorate financial literacy. The National Endowment for Financial Education initially established Youth Literacy Day as a day focused on promoting financial literacy amongst high schoolers. The United States Congress then became highly supportive of the idea of Financial Literacy Month in 2003 when the Senate and House of Representatives appealed to President George W Bush to recognize April officially as Financial Literacy Month.

Subsequently, the United States House of Representatives passed a law that was in favor of the objectives of Financial Literacy Month. This bill also requested the President to direct the Federal Government, schools, localities, and non-profit organizations to put Financial Literacy Month into practice.

The reason financial literacy has an entire, federally recognized month dedicated to it is because your financial health can make the difference between meeting your life goals or struggling to come close to them. Although money can’t buy happiness, a solid understanding of financial best practices can surely help you construct a comfortable lifestyle where your happiness can flourish.

Building healthy financial habits and educating yourself on how best to meet your money goals is the first step to a solid financial strategy. But financial literacy alone may not be able to get you that retirement and financial security you dream about. A comprehensive retirement strategy can be the difference, so contact one of our financial professionals to get started.

 

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Source: https://nationaltoday.com/financial-literacy-month/