Financial knowledge is extremely important to our well-being. Keep reading to learn how you can increase your financial knowledge regardless of your age or stage of life. 

What Does It Mean To Be Financially Literate 

Being financially literate means, you have the knowledge to efficiently and effectively manage, save, and invest your money. Financial knowledge is important to have and to continue to improve to get out of debt, budget, invest, utilize insurance, invest in real estate, tax, estate planning, college, retirement and more. There are many different areas of finance to educate yourself on, meaning there is no better time to start building knowledge than NOW. 

Have You had A Financial Check Up? 

Before we get into tips to increase your financial knowledge, it’s time to check in on you! Have you had a financial check-up lately? A financial check-up or commonly known as a financial review is an examination of your overall finances which would include your budget, any current debt, upcoming planned expenses, your financial goals, retirement contributions, and more. A financial checkup can be done yourself or with a financial expert at Sun Canyon Bank. 

Ways To Increase Your Financial Knowledge 

1. Listen To Financial Speakers Or Podcasts 

Whether you’re in the car, at the gym or cooking dinner, turn on a financial podcast or speaker to tune into. Soak up financial news or top into a new topic to gain knowledge on. Here are some financial podcasts to try out as well as financial speakers.  

2. Read Personal Finance Books 

If you prefer to read rather than listen, consider picking out some personal finance books. There is no shortage when it comes to learning about personal finance. Explore these top finance books for your next read. 

3. Use Social Media To Your Advantage 

Utilize your favorite social media channels to learn more about finance. It is great to subscribe or follow your favorite financial outlets for day-to-day content on finance. Tik Tok has become a huge platform for fun and knowledge. There are many creators on the platform that create videos on budgeting, personal finance, and more. 

4. Subscribe To A Financial Newsletter 

Search financial newsletter from your favorite financial experts and subscribe. Another tool to take advantage of to continue to actively learn as well as find new topics to explore.  

5. Schedule Routine Financial Check-Ups 

Scheduling routine financial check-ups with yourself is an accountable way to stay on top of your finances and actively be aware of your situation and habits. Everyone, no matter where you are in your financial journey should set aside time for their financial checkup just as they do for their health. Along with an annual financial check-up, there can be instances in which you should include an additional check-in. You should always have a checkup when big life changes occur. These changes could include marriage, buying a house, divorce, kids going to college, new debt, a large unplanned expense, retirement, starting a business, really anything that could drastically change your financial plan.   

6. Set a Meeting With A Financial Professional 

If you are in a financial rut or are unsure where to start, maybe it’s time to set a meeting with a financial expert. The benefit of working with a financial expert is assistance in working through your finances to build a plan to meet your financial goals while providing guidance along the way.  

Whatever your current level of financial literacy is, there is always room for more knowledge – it will only make you better off in the long run. Any step you take toward bettering your financial habits and knowledge is a great one, knowledge is power.