April is Financial Literacy Month, obscured like so many other things by the pandemic that is afflicting the entire nation. However, financial literacy and good decision-making about money are probably more important than ever in this period of economic uncertainty and hardship for many.
Greek philosophers stressed how important it was to “know thyself,” and self-awareness can spell the difference between effective or floundering financial decision-making. The most important, yet most overlooked, component of financial literacy is learning to understand your underlying beliefs, or your mindset, around money. Becoming educated in any subject is not a final destination but a continuous journey. And when it comes to financial education, success requires more than just study. Your finances and how you handle them are very personal, and the subject matter is subjective. Mindset can shape how successful you are in making the right financial decisions for yourself and your family.