April is Financial Literacy Month and Americans, including myself, are pretty woeful when it comes to their knowledge about personal finance. According to a USA Today article 46% of Americans are in constant financial insecurity. Part of that financial insecurity is not only income because plenty of people receive windfalls and/or make a lot of money and are financially insecure but that insecurity comes from a lack of knowledge. So in honor of Financial Literacy Month I am issuing a challenge to all those who read this blog.
Your challenge is take one concept regarding personal finance, read up on it, and begin to implement specific strategies in your own life. Whether that is understanding what a mutual fund, paying off debt, a mortgage, a refinance, whatever it might be all of us are better off with more knowledge.
For the truly ambitious those of you who take the challenge I invite you to submit your challenge to this blog so that we can publish it. Depending on how many responses I get we might make an entire segment on financial literacy.
My part of the challenge will be to take my Financial Tip Friday segment and explain some aspect of personal finance that I am attempting to learn more about. My first tip will be on the snowball method of paying off debt.
Who wants to take the challenge?