April is Financial Capability Month
April, designated as Financial Capability Month, is a great time to explore the importance of financial literacy and how to create and maintain financial wellness. As financial health is incredibly important to Advia, we are excited to recognize the importance of financial capability – this month and always.
What is National Capability Month?
Originally referred to as “National Literacy Month,” this recognition has evolved to focus not only on financial literacy, but also on ensuring s people have access to reliable, trustworthy financial education and resources, as described by the National Credit Union Administration.
Understanding Financial Capability
The National Credit Union Administration explains that financial capability involves learning and understanding ways to help manage your finances and how to create and stick to different financial goals. Developing and sustaining financial capability is an ongoing journey that allows you to learn new things and make well-informed financial decisions.
Trending Issues
With nearly 200,000 members, Advia strives every day to provide financial education. Here are some current topics you may find relevant. And always, you can read more educational pieces on our blog.
- Budgeting: Budgeting is not only tracking your expenses, but also considering areas where you can save. This includes prioritizing what you spend your money on, as well as planning for short-term and long-term financial goals. We delve into this topic a bit more in this blog.
- Mortgages: Buying a home is a major financial decision. Navigating the complexities of obtaining and managing a mortgage requires understanding various terms, interest rates, loan types, and repayment strategies. And we are happy to help! Whether you’re considering buying or building a new home, or refinancing one you already love, we offer mortgage rates and advantages you’re looking for. One of our Mortgage Center partner representatives would be happy to help you. To get started today, visit here.
- Maintaining a good credit score: Your credit score plays a major role in your financial wellness, influencing your ability to borrow money, secure favorable interest rates, and even rent an apartment or obtain insurance. Understanding the factors that impact your credit score and implementing strategies to maintain or improve it is essential for achieving financial stability. This includes paying bills on time, keeping credit card balances low, and regularly monitoring your credit report for errors or fraudulent activity. Within our Digital Banking platform, we offer SavvyMoney, which allows you to view your full credit profile and prevent identity theft.
- Scams on the rise: From phishing emails and fake websites to identity theft and investment fraud, there are a variety of threats to be cautious of in today’s digital world. Staying vigilant, educating yourself about common scams, and taking proactive steps to protect your personal and financial information are key to safeguarding against these risks. You can read about some current trending scams in our recent fraud related article here.
How Advia Can Help
Taking charge of your financial journey is not only smart, but it can also be an exciting opportunity to grow and learn.
At Advia, we are here to help every step along the way, whether you are just getting started or are looking for additional support. We are dedicated to providing you with the necessary tools and resources to help you with your financial wellness.
To explore our diverse range of resources, visit here. To stay up to date with our latest blogs, visit here.
Sources:
National Credit Union Administration: https://mycreditunion.gov/financial-resources/calendar-events/financial-capability-month