Why Financial Literacy Will Always Matter

The following blog post is part of The Road to Financial Wellness blog tour. The Road to Financial Wellness is a three-month, grassroots campaign promoting financial empowerment on a national level and encourages people to pursue their dream lifestyle. Find out more about local events near you.

Yesterday was my last day at my nonprofit job. Today is officially the start of my freelance journey (and also my two weeks ‘off’, though I’ve somehow managed to fill up a lot of my free time.) I’m going after my dream, and it feels wonderful.

This new phase has got me thinking, of course, about the next chapter in my financial life. Freelancing is a whole new ballgame, and there’s a lot I need to adjust to. I’m excited for the challenge, but make no mistake: it will be a chalenge. It’s made me realize that financial literacy will always matter. No matter what stage of life you’re at, financial literacy will always be important.

Two years ago, becoming financially literate to me meant figuring out how to deal with my pile of student loan debt. One year ago, it means figuring out how to open retirement accounts and start investing. Today it means figuring out how to make money work as a freelancer.

While the issues may change, the fact remains that staying financially literate is a key part of life. Someday I may have a mortgage, and that will be another thing I need to get educated about. You’re never able to close your eyes and hope that your money takes care of itself. Money requires attention. It’s needy that way.

Continually educating yourself on financial issues is a habit that will only help you. I personally love learning about new areas of the financial world. It makes me feel powerful and smart. I had a whole conversation with my boyfriend’s parents two weeks ago about reverse mortgages. They’d been getting offers for one in the mail and asked my opinion on them. I had no idea what they were talking about at first, but I did some research and went back to them with some information. Not only were they about to learn something, but now I’ve got a whole new area of information to inform my future house buying decisions.

Learning about money management skills and then applying them to my life has forever changed me. I’ve paid off my student loans, I’ve found my voice as a writer, and I’ve started a whole new career because of it. Financial wellness is something I strive for in my everyday life. For me, it started with educating myself. I encourage everyone out there

Financial wellness is something I strive for in my everyday life. For me, it started with educating myself. I encourage everyone out there to take the first step for themselves. I googled ‘how to pay off student debt fast’ one day, and my entire life changed. So whatever it is that you need to learn about, whatever it is that you want to change in your life, start today. Take one step today. And tell me about it in the comments!

 

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18 Replies to “Why Financial Literacy Will Always Matter”

  1. Hear, hear! I totally agree, especially about how learning financial literacy makes you feel smart. Every time I learn something new or reach a new milestone, I feel in so much control over my life!

    1. It feels so good right?! And adding more skills to the repertoire is never a bad thing!

  2. Congrats on your new journey! And here’s to learning as you (we) go!
    It doesn’t seem like much progress going step by step, so it’s important to look back every now and then and see how far you’ve come.

    1. Exactly right. Being able to look at a months progress, as opposed to a weeks, really puts things into perspective. I think that there’s always something around the corner!

  3. Ahhh so excited for your journey! I think you’ll find that it’s an amazing and difficult journey. Lots of highs and lows, but worth it. Thanks for participating.

    1. I feel ready and also know I can’t possibly be ready. Here’s to figuring out the next part of the journey!

  4. That’s so exciting that you’re taking this next step, Kara! I’m happy for you that you finished at the nonprofit job — I know you’d been wanting to move on from that for a while. I’m excited to read about what happens next for you! 🙂

    1. Thanks Sarah! It feels good to be done and officially moved on.

  5. Continuing to learn in financial literacy and other areas of life is so important to me. Curiosity is one of my favorite values. Right now I’m learning about the housing/mortgage market, because I want to purchase in the next year. There’s so much information and much of it is conflicting. I am sorting through the nonsense to get to what I need in my life. It’s a fun journey.

    1. There is a lot to wade through, it’s true. I like the sorting out of it though! Choosing what’s right for you, discarding what isn’t. It’s an on going journey.

  6. I couldn’t agree more on the importance of continuous learning when it comes to financial literacy! Although the basics of finance will never change, the overall landscape continues to evolve and it’s important that we maintain the right map in order to navigate it. – Mrs. Fe

    1. Totally agree about the basics. It’s good to get a grip on the building blocks early on. But then you have the option to branch out into different things (college, mortgages, starting a business). Those new levels come with new rules. So the learning never really stops!

  7. This is an exciting journey you’re getting into. Great insight on the importance of educating yourself to make better choices. Thanks for being part of the blog tour!

    1. Thanks Jason! Glad to have shared. I really believe in the power of financial literacy!

  8. Currently I’m learning about mortgage options because I hope to move away from my roommates in the next year. After that, I will try to learn more about dividend investing to add to my Index Fund investing potentially. I’m also learning a skill that will double my pay rate, when that is up to snuff, I hope to destroy my debt while investing like mad.

    1. I for one know very little about dividend investing, and that’s something I want to learn more about. There’s always another financial step to learn about!

  9. Moneyspire is also very good personal finance software – http://www.moneyspire.com

  10. […] Financial literacy is important because it can help you consider multiple steps or measured approaches to this new and somewhat scary stage. If you find that you have not saved enough or grow worried that an emergency would cripple your retirement, you may want to consider a reverse mortgage. If you own your house and are 62 years or older, you can transfer your home equity into cash. […]

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