3 WAYS TO MAKE FINANCIAL LITERACY MONTH COUNT DURING COVID-19

April is Financial Literacy Month, and this year it could not come at a more difficult time. The spread of the coronavirus has led parts of the country into a lockdown, skidded economic activity to a near halt, and overwhelmed hospitals with an ever-growing inflow of patients. Although it may feel like a perfect storm, we also need to remember that it is during a storm that sailing lessons prove their worth. And by sailing lessons, I mean the skills that come from financial literacy.

It has been 16 years since April was declared Financial Literacy Month. Its advocates hoped it would spark federal, state, and local governments, as well as schools, nonprofit organizations, businesses, and individuals, to celebrate the month with financial literacy programs and activities. Over time, Financial Literacy Month has also played an integral role in the national strategy for financial literacy, not only in the United States but in other countries as well.

By dedicating a month to financial literacy, policymakers acknowledged its importance well before subsequent financial crises unveiled, in painful ways, the price that individuals, families, communities, and our country pay when financial knowledge is lacking.

How do you talk with your kids about financial literacy?