Tayne Law Group

Financial Literacy

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Financial Literacy

Financial literacy is an important life skill for having a happy life.

Those who are financially literate are in possession of knowledge that enables them to make good choices when faced with financial issues. Good financial literacy makes people feel empowered to make smart choices and comfortably afford their lifestyle.

At a foundational level, financially literate people understand basic knowledge and personal finance skills like budgeting, credit reports, and credit scores. They have a spending plan, know their monthly expenses, and never exceed their credit limit. They also maintain important practices like keeping an emergency savings fund and continually building retirement savings.

Financially literate people also seek higher-level financial knowledge which leads to financial wellness. They are therefore well-equipped with the right information to make an informed decision each time they come to a financial crossroads.

When you’re confident in your financial literacy, you feel unafraid to budget and pay for your life goals, even including the most expensive costs like a college education, wedding, or home.

Last, confident consumers make good decisions about their investment portfolio and have well-researched opinions about which financial products to use (such as apps, savings accounts, robo-advisors, etc.). People with a high degree of financial literacy keep an eye on the stock market and plan for retirement based on their appropriate risk tolerance.

Many of us weren’t given proper financial education growing up, but thankfully the internet has ushered in a new era of financial literacy, providing millions and millions of people with helpful financial information.

To help our clients better understand money matters and improve their own financial literacy, we’ve decided to create and curate a variety of materials that can help expand their knowledge.

Below you’ll find links to helpful guides, informative blog posts, and books that can help you get on the road to financial independence.

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[slogan color=”e.g. #fff”]Budgeting has only one rule. Do not go over budget. [/slogan]

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Helpful Links

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Informative Blog Posts

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Future Reading

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