April 1, 2014
4 Ways To Boost Your Money IQ For Financial Literacy Month
April is National Financial Literacy Month, so named since March 2004, when the Senate passed Resolution 316 to highlight the importance of financial education. Of course, as with Black History Month, it is Financial Literacy Month every day at Black Enterprise, as evidenced by our Wealth for Life mantra. If you’ve yet to commit to your own financial education, now is the perfect time to make it a daily part of your media and information diet. Here’s how:
Daily: Get doses of financial advice via the radio and on the Internet. Follow money mavens like Tiffany “The Budgetnistaâ€ Aliche and Tara “Madam Moneyâ€ Jackson on their web sites, as well as on social media platforms such as Twitter and Facebook. Read articles and blogs at financial web sites including Black Enterprise.com, where Money section Content Producer and consumer expert Sheiresa Ngo posts her Personal Finance Word of the Day. And of course, you can to listen to my Money Matters syndicated feature on your local radio station or online at AURN.com.
Weekly: Watch television shows about money, investing and business. Good choices to start with are the Black Enterprise Business Report, hosted by Caroline V. Clarke, and CNN’s Your Money. You should also check into the nationally syndicated Doug Banks Radio Show at 4:50pm EST (3:50pm EST) each Wednesday for my weekly live Money Matters call-in segment.
Monthly: Read at least one book about money management, budgeting, investing, saving for retirement or other financial topic that aligns with your goals and fills gaps in your knowledge. An excellent one to start with is Squeeze the Most Out of Your Money by financial educator Patricia Stallworth. Another great read that will challenge you to pursue your financial freedom is dfree: Breaking Free From Financial Slavery by Dr. DeForest B. Soaries. There are so many excellent books on a wide range of money topics that you’ll never have a reason to not continue your financial self-education.
Quarterly: Make time to attend a seminar or workshop about some aspect of money and investing. In addition to searching online, check with churches, banks, colleges and community organizations in your area which likely offer financial literacy programs. A great resource to start with is the NFCC at DebtAdvice.org; be sure to check out the NFCC’s Sharpen Your Financial Focus program.
Whatever you do, make increasing your money IQ a year-round commitment, not one just for Financial Literacy Month.
Black Enterprise Executive Editor-At-Large Alfred Edmond Jr. is an award-winning business and financial journalist, media executive, entrepreneurship expert, Â personal growth/relationships coach, and co-founder ofÂ Grown Zone,Â a multimedia initiative focused on personalÂ growth and healthy decision-making. This blog is dedicated to his thoughts about money, entrepreneurship, leadership and mentorship. Follow him on Twitter atÂ @AlfredEdmondJr.