BenefitsAll

Become a Benefits Know it All

Financial Matters

Stacks Image 2395

The term "financial literacy" is gaining in popularity. Financial magazines, blogs, and newsletters urge us to increase our financial literacy, or else. Financial surveys tell us which states have the most and least financially literate residents. And the federal government has labeled us financial illiterates.

You do need to know something about finances. Learning to eliminate your debt and increase your savings is very important. Knowing a lot of complicated financial terms and concepts is not. Besides, the financial types will keep adding new terms, products, and theories to your need to know list. There is no catching up with these folks.

Just because the financial industry continues to get more complicated, does not mean you are a financial illiterate. According to most definitions of the term, our grandparents were not financially literate. However, our grandparents were very good debt avoiders and savers, and we can be too.