April is Financial Literacy Month, and the best way you can celebrate is to learn something new to apply to your own finances. Here are some suggestions to implement into your routine to better your knowledge of finance and apply it to your lifestyle. 

#1- Ask And Research One Financial Question Per Day 

A good way to get your financial literacy in check is to ask questions about finance, whether it is a general question or applicable to your life. Taking some time each day to ask a new question and do some research will boost your knowledge of finance and hopefully encourage you to apply it.  

#2- Make Finance The Topic Of Book Club 

Whether you are in a book club or itching to start one, consider making the topic about finance. Getting some outside input and conversation going is a great way to learn something new or even a new area of finance to then dive deeper into. In general, reading a book on finance is a great thing to do this month especially, and absolutely take notes as you go. Here are some great book options:  

  • The Difference (Chatzky, 2009) 

  • The Next Millionaire Next Door (Stanley & Fallow, 2018) 

  • Investing 101 (Cagen, 2016) 

#3- Take A Class On Finance 

There are many great ways to learn about finance but consider taking an online class or watching a Financial Literacy video this month. Here are a few online options to look into during Financial Literacy Month regarding videos, events, tips, and tricks: 

#4- Critique Your Financial Habits 

Get your budget and financial habits in check by doing a deep dive. Making sure your money is allocated correctly is huge - take some time to work through your budget and address any concerns. Spring is a great time to do a little extra saving before summer comes up. Work on your budget continuously, so that isn’t a huge undertaking. Here are some savings challenges to consider: 

  • Spending freeze (no spending on extras for a set amount of days) 

  • No eating out 

  • Cancel a subscription 

  • Cancel or pause a membership 

  • Walk or bike rather than drive 

  • Stick to that grocery budget  

#5- Talk Finance With Your Partner And/Or Children  

A very important piece of finance is to talk about it with your partner and/or children if you are supporting them in any way. Personal finance is one of the biggest argument topics within a marriage, so have those hard conversations and discuss your goals together. Most kids will learn financial habits from how they were brought up, so a challenge to you is to give them a saving and spending goal.  

Don’t let poor financial literacy result in poor decision-making skills. Challenge this month to become more financially literate and to ensure your budget and your financial goals are in check by applying new knowledge.