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Daily Capital

Financial Literacy Resources: Educating Families About Money

If you’re reading this in April, happy Financial Literacy Month.

I don’t know whether this was intentional, but the fact that Financial Literacy Month follows Women’s History Month, which follows Black History Month, certainly doesn’t seem like a coincidence. It’s almost as if we as a nation presented a solution for financial inequality: Find a way to get more wealth into the hands of both women and BIPOC.

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Personal Capital Dashboard User, February 2021

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What is Financial Literacy Month All About?

Financial Literacy Month came about less than 20 years ago, in April of 2004 through the passing of Senate Resolution 316. Its purpose? To take American citizens’ lack of knowledge around personal finance more seriously and find a way to promote education surrounding finances. Over time, financial literacy has been summed in five competencies:

  1. Earning
  2. Saving and Investing
  3. Spending
  4. Borrowing
  5. Protecting

These have been designated the ultimate tools for obtaining wealth.

To me, Financial Literacy Month looks like challenging yourself to get uncomfortable with your money. It looks like assessing where you’re at and turning weaknesses into strengths one day at a time. A financially literate world is one in which everyone has equal access to the wealth it produces. It’s a world in which everyone knows their worth and has the resources and confidence to feel in control of their money. If you’re looking for a chance to start fresh with your finances, take this month as your opportunity.

Do you know your net worth? Try using the simplified calculator below. To see your net worth in real time, sign up for Personal Capital’s financial tools. Millions of people use this free and secure technology to see all of their financial accounts in one place, analyze their spending, and plan for long-term, big money goals.

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Financial Literacy Resources for Families

I’m not the only one in the financial industry who is promoting financial literacy to others. While my focus is on Millennial and Gen Z women, I am surrounded by educators who home in on family circles, at the dining room table, on the car ride to school, and beyond. I am honored to share the stories of two individuals and how they are making an impact on families everywhere.

Podcast: Marriage, Kids, and Money by Andy Hill

Andy’s work can be summed up in one sentence on the homepage of his website: “Strengthen your family tree and live financially free.” With a focus on happiness and fulfillment, Andy is committed to providing families with tools and resources for cultivating a dream life within their own homes.

Read More: How We Save and Invest for our Kids’ Future

A husband and father of three living in Michigan, Andy has set out to simply live his best life — all while preparing to leave behind as much as he can for future generations. It was about five years ago in 2015 that Andy became interested in financial literacy for families. What began as a side hustle of knowledge-sharing quickly morphed into something more. The blog he built exploded, and he found himself leaving his corporate marketing position and pursuing this full-time.

Read More: How Tracking Our Net Worth Motivated Us to Achieve Financial Freedom

Andy and his wife, Nicole, have completed some amazing goals, including paying off $50K in less than five years, becoming mortgage-free by 35, and becoming millionaires in just 10 years.

Read More: How I Became a Millionaire in my 30s

Over the years, he has taken all he’s learned, continues to learn from those in the industry, and shares all these lessons on his 5-star-rated podcast, blog, and YouTube channel. If you were to ask him about all of these hard-earned accomplishments, Andy would tell you he’s just a normal guy who simply loves to help other families thrive. That he does.

Book: “Mom and Dad, We Need to Talk” by Cameron Huddleston

It was only natural that journalist Cameron Huddleston would eventually end up writing her own book. Influenced by her own experience of raising kids while taking care of her mom who was diagnosed with Alzheimer’s, “Mom and Dad, We Need to Talk” is a book about working through discomfort in talking with aging parents about important financial concerns. This book is intended to help adults navigate tough conversations — long-term care, retirement accounts, and end-of-life planning — with their parents.

“Being financially literate enables us to make smart decisions about our money,” Cameron told me. “It helps us understand the benefits of budgeting, the dangers of taking on high-interest debt, and the necessity of saving and investing for the future. It’s the key to taking control of our money and improving our financial well-being.”

Cameron’s passion for personal finance comes from the fact that she has had to learn it all on her own. Now, she lives knowing that she can be that guiding voice for someone else — the insights that she never had.

Money Challenge Calendar: Your Own Challenge for Financial Literacy Month

For my community, I’ve created a downloadable calendar with daily money challenges to execute through the whole month. This resource is designed to transform your relationship with your finances — including important financial steps like opening up a free Personal Capital account to understand your net worth.

As a financial feminist, I spend every day helping women embrace the power that they already possess. But the second part of my job is inspiring others to go out and do the same for someone else. This beautiful ripple effect is the only way to guarantee financial literacy for all.

Take Control of Your Financial Life

Personal Capital compensates Tori Dunlap (“Author”) for providing the content contained in this blog post. All opinions are of the author. Neither Personal Capital Corporation (“PCC”) nor Personal Capital Advisors Corporation (“PCAC”) actively endorse the financial educators listed in this article or compensate featured individuals for this post. Additionally, in a separate referral arrangement between Author and PCC, Author is paid $70 and $150 for each person who uses Author’s webpage (www.HerFirst100k.com) to register with Personal Capital and links at least $100,000 in investable assets to Personal Capital’s Free Financial Dashboard. As a result of these arrangements, Author may financially benefit from referring potential clients to Personal Capital and/or be incentivized to present blog content that is favorable to PCC. No fees or other amounts will be charged to investors by Author or Personal Capital as a result of the Referral Arrangement. Investors that are referred to PCC and subsequently subscribe for investment advisory services provided by PCC’s affiliated adviser, PCAC will not pay increased management fees or other similar compensation to Author, PCC or PCAC as a result of this arrangement. Additional information about PCAC is contained in Form ADV Part 2A available here. The content contained in this blog post is intended for general informational purposes only and is not meant to constitute legal, tax, accounting or investment advice. You should consult a qualified legal or tax professional regarding your specific situation. Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money. Any reference to the advisory services refers to Personal Capital Advisors Corporation, a subsidiary of Personal Capital. Personal Capital Advisors Corporation is an investment adviser registered with the Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training nor does it imply endorsement by the SEC.

The content contained in this blog post is intended for general informational purposes only and is not meant to constitute legal, tax, accounting or investment advice. You should consult a qualified legal or tax professional regarding your specific situation. Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.

Any reference to the advisory services refers to Personal Capital Advisors Corporation, a subsidiary of Personal Capital. Personal Capital Advisors Corporation is an investment adviser registered with the Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training nor does it imply endorsement by the SEC.

Tori Dunlap is a millennial money and career expert. After saving $100,000 at age 25, Tori founded Her First $100K to fight financial inequality by giving women actionable resources to better their money. A Plutus award winner, her work has been featured on Good Morning America, New York Magazine, Forbes, CNBC, and more. An honors graduate of the University of Portland, Tori currently lives in Seattle, where she enjoys eating fried chicken, going to barre classes, and attempting to naturally work John Mulaney bits into conversation.
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