Financial Literacy Month

April is Financial Literacy Month, a perfect opportunity to educate ourselves about personal finances and how to make informed and effective financial decisions, especially when applying for a mortgage, taking out a student loan, or making credit card purchases. By understanding the value of money, how it is earned, how it should be managed, invested, and even donated, we are more likely to make the best choices with our money. Per Money Management International (MMI), many people experience financial difficulties, which significantly impact their everyday lives. Thirty percent of consumers are living paycheck to paycheck, with no extra cash to count on for unforeseen expenses. Any financial decisions - good or bad - can have a long-lasting effect on our lives, and the impact of overspending can adversely affect our financial future.

Establishing and maintaining healthy financial habits is extremely important, and it's a good idea to teach kids money management skills early. As adults, we make important financial decisions every day and we need to understand how to effectively manage our money:

  • Plan your finances and budget accordingly.

  • Manage your cash and credit cards wisely to keep your debt under control.

  • Make knowledgeable consumer decisions. Research prior to making major purchases.

  • Have adequate health, life, property, and liability insurance.

  • Make wise investments. Know the difference between a want and a need.

  • Make investment decisions based on your financial goals.

  • Live within your means and plan for retirement.


The first step in taking ownership of your financial future is to evaluate your current financial situation and establish realistic, achievable financial goals to accomplish a debt-free future. Weigh your options and make informed choices; whether to buy or rent a house, purchase a new or used car, and if you will have enough saved to live comfortably during retirement. Cut back on your monthly expenses and put the extra money in your savings. If you are currently in debt, you many find 21 Habits for Getting Out of Debt very helpful. In addition to these financial calculators, there are many free resources available online to assist in your decision making as you embark on the road to financial success.


Keeping your family and home safe and protected is Edison Home Insurance Company's number one priority. We have taken a bright and innovative approach to FL homeowners insurance with coverage options allowing you to customize a policy to best fit your needs. To learn more about Edison Insurance Company, or to get a personalized quote, call us at (866) 568-8922.

Other blog posts like this

This is the time of year where Florida homeowners are hosting holiday gatherings and celebrating the season of giving. To ensure a fun and safe holiday season, read our blog to learn a few holiday tips Florida homeowners should follow.
By
Edison Insurance Company
December 1, 2022
Practically every year, fraud against businesses and individuals increases.  Companies lose at least 5% of their revenue annually to fraud.  This fraud is paid back by consumers on every transaction – including your insurance premium. Learn more about insurance fraud with us.
By
Stacey A. Giulianti, Esq.
November 4, 2022
The National Insurance Crime Bureau reports: about 10% or more of property-casualty insurance claims may be fraudulent. These crimes add up to billions of dollars in fraudulent insurance claims every year. Even if you haven’t suffered a direct loss, you are still a victim of insurance fraud because it causes higher insurance premiums for all of us, raising taxes, and inflating prices for consumer goods. Read about three of the most common insurance related fraud below.
By
Edison Insurance Company
November 1, 2022