Financial Literacy Awareness Month
First recognized by Congress in April 2004, the goal of Financial Literacy Awareness Month is to highlight the importance of financial literacy and give people the tools they need to make smart financial choices. The current financial literacy forecast shows the need for financial literacy is greater than ever. With this in mind, we have shared a few key topics below to help you navigate today’s financial landscape and increase your financial knowledge.
Personal Financial Tips
What is Inflation?
At its simplest, inflation is the rise in prices over time that leads to a decrease in the purchasing power of money. What it means in practice is that while a $10 bill could buy you a week’s worth of fast-food burgers in 1960, today it can barely buy you lunch.
Moderate inflation can actually stimulate economic activity as businesses invest and consumers spend more. It can also benefit property owners who see their investment values rise. However, excessive inflation can be detrimental.
No matter where you’re living or what your age or income level, inflation will have at least some impact on your finances.
Read the full article to learn more.
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Don't Get Tricked By An Online Job Search Scam
Looking for a job online? Be careful of job scams that offer great pay and tempting benefits. They could trick you out of personal information, cost you money and still leave you without work.
If the pay and ease of getting an interview seem too good to be true, it very well could be. The FBI warns that tricksters post jobs on legitimate sites and link them to spoofed websites designed to capture your vital information.
How can you tell if you’re being scammed? What can you do to protect yourself?
Read the full article to learn more (link)
Business Financial Tips
Business Startup Costs
Before you ever make your first sale, you’ll have bills to pay. To ensure your venture gets off the ground, the first step is to accurately estimate your startup costs.
Startup costs are required upfront, but since many businesses can take a year or more to show a profit, you’re going to need to have a plan to cover both the one-time and recurring expenses necessary to establish and operate your business over the long term.
Our guide will walk you through the basics of calculating expenses, setting a budget, and securing funding, so you can focus on what truly matters—building your business.
Read the full article to learn more
The Five C’s of Credit
When deciding whether or not to offer you a small business loan, lenders usually look at the five C’s of Credit: Character, Conditions, Capacity, Capital, and Collateral. Lenders rely on the five C’s to evaluate loan applications and determine rates.
Knowing and understanding each of the five C’s can give you a leg up in the borrowing process by helping you demonstrate your character and the financial stability of your business.
Whether you’re looking to expand, invest in new equipment, or manage cash flow, understanding the five C's can make all the difference.
Read the full article to learn more
Continue Learning
To view additional articles covering a wide range of financial topics including personal finance, identity theft prevention, cybersecurity, business advice and more, please visit our Blog and our Resources Center.