Well we did it! Our ADHD brains got a post about helping you with your Financial Capability Month content. Should we be sorry it’s “late?” Maybe. However, we’re gonna to suggest instead that you should ALWAYS be putting out content that helps your clients feel more “financially capable.” It doesn’t have to be much. You don’t need to give more energy away for free than YOU want to. The key is consistency. Not quantity. Eventually you’ll get to quantity, naturally. No need to rush it (unless you want to because you’re a bada** challenge accepted kind of financial person).

History of Financial Literacy Month

Financial Literacy Month was first celebrated in the United States in April 2004 as a way to promote financial education and raise awareness of the importance of personal finance. The day was officially declared by Congress in 2003 and then extended to become a full month-long event. Since its inception, financial literacy month has grown in popularity each year, with companies, organizations, and governments all taking part.

From Richard B. Wagner, JD, CFP

“we seem to have mostly assumed that this 21st century survival skill will be absorbed by osmosis without even the benefit of ‘the Talk’ from a respected elder. That being said, there are pockets where financial literacy issues are being addressed.” (p.47)

“Budget deficits, tight money, hyper austerity, increased joblessness and escalating personal financial insufficiency and illiteracy have made their marks on us all.” (p.83)

What is National Financial Capability Month?

NOW, THEREFORE, I, JOSEPH R. BIDEN JR., President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim April 2021 as National Financial Capability Month. I call upon all Americans to observe this month by understanding barriers to financial well-being, and taking action to build their own financial capability and assist others to do so. (Source: whitehouse.gov)

What does financial capability mean?

Financial capability is the ability to understand and effectively manage financial resources. It includes having sufficient knowledge, skills, and confidence to make sound decisions about money. Financial capability includes understanding how money works in the world, managing it responsibly, budgeting for future needs, saving for long-term goals, making smart investment choices, and being able to access appropriate financial services when needed. It also means having access to financial education and other resources to help individuals make sound financial decisions.

What are the variables of financial literacy?

There are many variables of financial literacy, including understanding how money works in the world, budgeting for future needs, managing money responsibly, making smart investment choices, and being able to access appropriate financial services when needed. Financial literacy also involves having sufficient knowledge and information about taxes, banking, credit cards, debt management and insurance to be able to make informed decisions. Additionally, financial literacy requires individuals to understand the economic environment and its effects on their financial situation. Finally, financial literacy includes having the confidence to make sound decisions about money.

Financial literacy is about more than just understanding basic money management skills – it’s also about understanding the wider economic environment. This includes being able to recognize and respond to factors like inflation, interest rates and exchange rates, as well as the potential impact of global events on the economy. Furthermore, building financial capability requires an understanding of how different kinds of investments work and the risks involved with each type.

How to Observe Financial Literacy Month

“Observe this month by understanding barriers to financial well-being, and taking action to build their own financial capability and assist others to do so.” ~JOSEPH R. BIDEN JR., President of the United States of America

There are many ways to acknowledge and participate in Financial Literacy Month. People can explore online resources such as the Financial Industry Regulatory Authority’s Learning Center or the National Endowment for Financial Education’s Money Smart website. Federal agencies, including the Consumer Financial Protection Bureau (CFPB), offer free financial education materials, including interactive courses and activities.

It is also important to seek out local programs and organizations that offer financial education. Many states and counties have programs that provide useful information such as budgeting, credit, investor protection, debt management, and home buying.

Finally, individuals should take the time to assess their own financial situation. This could include creating a budget to help track spending habits or obtaining a copy of their credit report to check for errors or possible fraudulent activity.

Post ideas for your audience of financially capable persons

1. Help them come up with a plan for their debt.

Debt can be a significant financial burden and can impact your clients’ financial future if not managed effectively. As a financial planner, you can help your clients develop a plan to manage their debt.

One effective way is to encourage them to pay off high-interest debt first, such as credit card debt. They should also consider consolidating their debt, which can reduce the overall interest rate and make it easier to manage.

Which ways apply to the most people in your audience? Write about those. Share your opinions. They matter 😊

2. Talk about scams you want them to be aware of

Scammers are becoming more sophisticated, and it’s essential to teach your clients how to identify and avoid financial fraud.

One effective way is to encourage them to be cautious of unsolicited calls, emails, or text messages that request personal or financial information.

They should also be wary of investment opportunities that sound too good to be true or promise high returns with little or no risk. Encourage your clients to research and verify the legitimacy of any investment opportunity or financial advisor before investing their money.

What things do you agree they should be aware of? Talk about it and tag us!

3. Talk about financial trends

What money news and hashtags are trending in your favorite social channel?

One that I’ve noticed is how to set “financial goals” and i just keep coming back to what Amy Mullen, CFP® said about how “there is no such thing as a financial goal, only personal goals with monetary needs.”

As a financial planner, you can work with your clients to set specific and measurable goals that align with their values and aspirations.

These goals may include saving for a down payment on a house, paying off debt, building an emergency fund, or saving for retirement. Encourage your clients to break down their goals into smaller, achievable milestones, which can help them track their progress and stay motivated. You can also help them adjust their goals over time as their priorities and circumstances change.

You can use your favorite social channel to test different kinds of general and compliant tips for setting personal financial goals.

Setting financial goals can help your clients stay focused and motivated to achieve their long-term financial objectives, which might include hiring a financial planner 😉

If you have questions, write them down and join us for our upcoming webinar on May 17. It’s free.


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