Build your financial i.q.
Almost everyone I come across has access to a computer, or they own a cellphone. So there is no excuse to be financially uninformed. Financial literacy is important in our community. The ability to understand finance and to make informed judgments and effective financial decisions can give a person the necessary edge to take charge of his or her money matters. Financial literacy involves management of risk as well as the appropriate handling of modern financial instruments.
To keep abreast of finances, people need to engage in lifelong learning to develop a sound understanding of financial products, techniques, technologies
Technology and finances go hand in hand. Technology gives people better control over planning and money management, credit and debt, risk and insurance, and savings/investing. When these functions are automated with financial technology, it makes it much easier than calculating by hand or memory. Technology has taken over in every area of our lives, not excluding when it comes to our financial matters. People are so time conscious that they are always looking for information right at their fingertips versus going into a banking center, sitting with an insurance agent or even budget counselor. Below are websites that provide information for some of the key personal finance areas.
Use these sites to assist with building your Financial Foundation. Some of these websites also have phone apps if you prefer to use that method. Let’s create a plan that addresses all the major components of your financial plan. All areas can be addressed right at your fingertips. There is no excuse anymore to not know your account balance, credit score, spending habits or the scope of your financial future.
Take the time to educate yourself
rate is.
Know Your Score & Credit History
– Assistance with identity fraud
– Free credit score with one credit bureau
– Credit monitoring site
– Monthly fee of $29.95
– No contract; can cancel at anytime
– Can compare all credit reports and scores
– Review your credit report and score at no
cost
– Cycle resets every week
– Receive credit product recommendations to
assist with saving money
– Receive free reports from all three credit
bureaus: Experian, Equifax
– Additional costs to receive credit scores
– Personal Finances, Budgeting
Management
– Envelope budgeting system
– Good for people with
–
made
– Provides you with a safe daily spend limit
– Banking and Investing
– Locate best rates for savings, mortgages
and other loans
– Reviews about various financial institutions
– GPS-enabled location finder
– Virtual check deposit
– Bank anytime with all your accounts
Acorns
– App for investing
– Invest spare change from everyday purchases
Get Insured
– Receive health, life, auto and home insurance
quotes
– Review health, auto
– Comparison of insurance rates
– Compare and read car reviews
Legal Documents
– Ability to create your Power of Attorney and
Wills
– Create legal documents and forms
– Receive legal advice
– Locate attorneys, find laws and legal
information
Entrepreneurs
– Virtual CFO for small businesses
– Manage cash flow
– Record expenses and create budgets
– Listing of small black-owned businesses
To further enhance your financial literacy,
order your copy of Financial Foundations at
laresepurnell.com or victorymp.com. You can
also download it on Kindle.
Follow me on Twitter, Facebook
@laresepurnell. Remember, if you
change your habits, you’ll change your circumstances.
In the meantime, let’s continue
building our #FinancialFoundations.
Healthy people, make healthy families, which
builds healthy communities.
Written by Larese Purnell