Spring is the perfect time to boost money management skills

By Andi Anderson

As spring arrives with blooming flowers and longer days, April also brings an important reminder—it's time to focus on our finances. Alongside income tax deadlines, April is recognized as National Financial Literacy Month, a time to boost awareness and understanding of personal finance.

Many people face financial stress due to a lack of knowledge about managing money. In fact, poor financial literacy cost the average person over $1,000 in 2024. When multiplied across the adult population, this results in a significant national financial loss, showing just how important it is to improve money management skills.

Recent studies have shown small improvements in financial behavior among adults. For example, more people now have emergency savings compared to previous years, and a growing number are finding it easier to manage monthly expenses. These changes highlight the benefits of learning basic financial skills.

Financial literacy goes beyond knowing how to calculate interest or balance a budget. It also helps build confidence in managing debt, understanding credit, and planning for the future. With access to the right tools and resources, anyone can take control of their finances and feel more secure.

April is an ideal time to review your financial goals. If you receive a tax refund, it can be a good opportunity to start or add to an emergency fund or invest in your future through retirement savings. Many workplaces also offer financial wellness programs during this time, giving employees a chance to learn helpful strategies without added costs.

Government organizations like the Consumer Financial Protection Bureau provide free, easy-to-use tools that can help individuals create a budget, track spending, and understand financial terms. These small steps can lead to long-term financial success.

Improving financial literacy may seem overwhelming, but it starts with simple actions. As one expert put it, “Small steps — like setting a budget or learning about interest rates — can lead to big wins.”

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