Getting Started with Financial Literacy

The new year has begun and our new focus area is in full swing! It's time to get started on financial literacy!

At the Relief Society meeting this last Thursday, we had two excellent presentations to start us off. Thank you, Kelli and Blake! One of the ideas that I took away from the evening was that financial literacy (and preparedness) is not something that just springs into being. It's a process -- and it's worth it! You may feel overwhelmed by how much you have to learn, but DON'T BE! As the saying goes, "How do you eat an elephant? Just one bite at a time." It's about prioritizing and doing a little at a time. Let's take a look at some of the areas you can consider:

• Tithing/Fast Offerings
• Getting Out of Debt
• Budgeting
• Building Up Emergency Funds
• Understanding and Allocating Retirement Savings
• Having Long-term savings (towards education, mission, larger expenses)
• Catastrophe Planning (insurance, etc.)
• Estate Planning

Which area do you think is the most important for you right now? Do you need to learn about it? Improve at it? This week, think about some of your potential learning areas, but choose just ONE to start with. Set a specific goal for 2011 and put it into action! Just think about the greater peace you will feel as you become more knowledgeable and confident!

For some great reading to get you started, check out the Church's pamphlet One for the Money. And be sure to study the handouts from Thursday. (If you need copies, feel free to email me and I can send them along to you.) Happy reading, and here's to becoming more financially literate!