First of all, we are delighted to join with KeyBank again to offer Financial Literacy classes during the next three months. Let us know what topics might be useful for you!
Financial Literacy includes understanding budgeting, saving, investing, and the ability to find, understand, and use resources and information to help you make important decisions about your personal finances. Five topics that serve as a good road map for managing your money are:
1. Earning, The topic of earning is learning to live within your means and pay for your lifestyle without excessive debt.
2. Saving and Investing, Saving and investing is knowing where your money is going each month. If your employer offers 401K plans or other retirement plans, take advantage of them. Cutting out optional expenses for things you can live without and putting that money aside in a savings account or investing it.
3. Borrowing and managing your debt, borrowing and Debt management is reviewing and comparing interest rates before applying for a loan, and making sure that if you do take out a loan
that you can still live within your means.
4. Spending and planning, Spending and planning means shopping for the best value. When purchasing something, consider whether it is a need or a want and is the purchase is within your means. There are two types of budgeting plans, the first is the 50-30-20 budgeting means putting
- 50% of your income towards needs,
- 30% towards wants
- 2% towards savings.
The second budget plan is 80-20, you “pay yourself first” or set aside 20% for savings, then use the remaining 80% for your needs and wants.
5. Protecting your assets. Protecting is creating an emergency fund by putting money into a savings account after all of your expenses have been paid. Even if it is a little money that you are putting Into a savings account will help you become financially stable.
We wish you good health and
much happiness.
SEPTEMBER
RESOURCES
A few more resources for our UNPHC EdX topic of the month: Financial Literacy
Online Financial Literacy Platforms & Tools
Consumer Financial Protection Bureau (CFPB)
Free downloadable tools—worksheets, handouts, audio guides—covering auto loans, credit, debt collection, housing, savings, and more. Resources tailored to specific groups.
Link: https://www.consumerfinance.gov/consumer-tools/educator-tools/adult-financial-education/tools-and-resources/
FDIC – Money Smart
Comprehensive suite of financial education materials, including lesson plans, data tools, and consumer resources.
Link: https://www.fdic.gov/consumer-resource-center/money-smart
Office of the Comptroller of the Currency (OCC) – Financial Literacy Resource Directory Curated directory linking to federal and nonprofit financial education programs, publications, and tools.
Link: https://www.occ.gov/topics/consumers-and-communities/community-affairs/resource-
directories/financial-literacy/index-financial-literacy-resource-directory.html
Banzai. Free, interactive platform teaching real-world finance and life skills through hands-on modules.
Link: https://banzai.org/
InCharge Financial Literacy
Free financial education materials for kids, students, and adults in community workshops. Visual, interactive resources.
Link: https://www.incharge.org/financial-literacy/
Money Fit (by DRS)
Free tools, workshops, budget calculators, podcasts, and financial wellness programs.
Link: https://www.moneyfit.org/resources/
GCFGlobal.org (Goodwill Community Foundation)
Free self-paced tutorials in life, math, reading, and job skills. Available in English, Spanish, and Portuguese.
Link: https://edu.gcfglobal.org/en/
Federal Reserve Education (FRE.org)
Hundreds of free educational resources such as lesson plans, videos, and webinars on personal finance and economics.
Link: https://www.federalreserveeducation.org/
SaverLife: Nonprofit fintech platform helping low-income families build saving habits with gamified challenges, financial insights, coaching, and cash prizes.
Link: https://saverlife.org/
