Financial literacy is defined as possessing the financial expertise needed to make healthy financial choices. April marks financial literacy month, and whether you’re money-savvy or looking to learn more, this month can be used as a springboard to get involved and take action.

“Financial literacy is extremely important for all ages and is a topic we take seriously at Community Bank N.A.,” said Jamestown Branch Manager Kathy Bemus. “We offer financial literacy classes for young children all the way up to adults. We want to help our neighbors make sound financial decisions through all stages of life.”

To help promote financial literacy throughout Western New York, Bemus recommends community members engage in these four actions throughout April.

COMMIT TO LEARNING ABOUT A FINANCIAL TOPIC

Financial literacy is all about having the knowledge and understanding to make informed and effective decisions about your finances. This month commit to learning more about a financial topic that interests you. From mortgages and insurance to credit and investing, the options are endless. The goal isn’t to become an expert on the subject, but by the end of the month you can feel more confident the next time you have to make a decision.

TALK WITH YOUR LOVED ONES ABOUT MONEY

It’s important to engage in conversations about responsible saving, spending and planning with your family. Together, you can take stress out of a situation by regularly discussing household finances and financial planning. Take time to speak with your children about the value of a dollar, ways to start saving and the difference between want and need. It’s never too early for children to learn about responsible financial decisions.

MOVE TOWARD FINANCIAL STABILITY

Use financial literacy month as an incentive to plan your journey to reach your financial goals. Take a moment to sit down and assess your current financial situation, and then work to create a personal budget with a step-by-step plan for saving and spending. Doing this simple task will help you act rather than avoid financial situations due to stress. Your budget should allocate your future income toward expenses, savings, and debt repayment. Be sure to evaluate your budget regularly to adjust for new situations and goals.

TAKE A CLASS TO LEARN MORE

Improving financial literacy starts with education and every class or workshop makes a difference. This is especially true when it comes to children. Financial literacy programs for students are an important tool to improve the financial capability of our youth and communities. This is one of the many reasons Community Bank N.A. frequently partners with schools to help educate students in varying grades on making spending decisions, the value of money, and the difference between want and need. During April, consider partnering with a local organization to either host or attend a financial literacy class to further yours and your family’s financial education.