Since 2013, financial literacy programs have been on the increase due to an increase in demand. This is because 80% of Americans are in debt, according to recent research by The Pew Charitable Trusts. This means that most Americans are financially “unwell” which has led to both psychological and physiological problems for them. Most are actively seeking a remedy, hence the spike in the demand for financial literacy programs.
A financial literacy program consists of educational materials that are tailored to help you become financially well. Being financially well is when you have enough money to help you enjoy the present and cushion you for the future. Financial literacy programs ensure that you never have to stress about money again.
As earlier stated, the best remedy on the market today is the financial program. A financial literacy program inculcates practices and behaviors that will lead to financial freedom.
GuardianWealth offers an interactive and highly customizable financial literacy program that reflects your current financial status, and evolves as your financial status improves and your needs change.
First step is to take a financial literacy test and health checkup. This provides a clear picture of your current financial situation.
Based on your current financial situation, you get personalized recommendations, including tutorial video, infographics, articles, and personal finance courses, on your dashboard that help you track progress to financial wellness
Your personality can affect your plan’s overall success. Take the personality test to better understand you money habits and make steps to build the right money habits.
Now is time to stay on track with financial tools, courses and the latest content on personal finance.
There are several lessons under financial literacy programs that can aid your financial freedom but we will just mention a few.
The first is how to live below your means. This is the basic step to take if you want to be free of debt. According to a recent survey of 2000 Americans, 63% of them lived from paycheck to paycheck, after the Coronavirus had hit the US. Before the pandemic, 44% said they were living beyond their means and this had led them into untold debt. To live below your means is not an easy feat. That is why you need a financial literacy program to help you.
A financial literacy program teaches you how to live below your income by:
Calculating your total income helps you to plan on how to spend. It helps you to know your limits so that you don’t spend the money you don’t have. Knowing your total income can help you to draw an effective budget.
A budget is a blueprint that will guide you on how to spend. It also shines the light on areas in your expenditures that drain your finances. A budget planning app is very adept at doing this. It helps you to know the areas you’re overspending so that you can adjust.
To live below your income means you need to cut down your expenditures. You do this by trimming down areas in your budget that indicate that you’re overspending. Only then can you live below your means under a financial literacy program.
Keeping up with appearances is one of the subtle ways people end up living beyond their means. They sometimes forget that income levels differ and so should spending levels. By striving to keep up with the latest expensive fashion trend or luxurious car or even phone, people end up spending money they don’t have which leads to debt. A financial program assists you to avoid societal pressure and focus on one thing only; financial wellness.
Living below income automatically leads to the next step, which is saving money.
Every financial literacy program involves lessons on saving. Without setting money aside, there’s no way you can enjoy financial freedom. Saving enough money for a rainy day or to enjoy life is the main goal of financial programs. If you avoid living from paycheck to paycheck and live below your means, you’ll save some money regardless of how little it is. Saving has been the dream of most people but achieving it has proved elusive. This is because people save without a specific goal in mind, therefore, there is little or no motivation. According to financial programs, to develop a solid savings plan, you need to have a goal you want to achieve. It could be saving to purchase a house, a car, or to pay off debts. You could save for retirement as well. Having a goal in mind helps you to fashion out a pragmatic plan to help you save. That is why you need our GuardianWealth financial literacy program. This program comes with tools that can help you save.
Saving then leads to wealth building. A financial literacy program helps you to create and build wealth. You need money to make money. So with the money you have saved, you can invest in a business or other investment vehicles like the stock market, bonds, real estate, etc. If you are unable to save the big bucks, don’t worry. There are several opportunities out there that you can use to make money without heavy investment. You could become a freelancer, blogger, affiliate marketer, etc. The key takeaway in this lesson under the financial literacy program is to start building wealth. Building wealth takes time, effort and requires a lot of patience, especially in the early stages. However, there is no way you can become financially free without building wealth so you need to put in the sacrifice to achieve the desired results.
Financial literacy programs also teach how to manage debt or pay off debt. Regardless of how much money you make during the wealth-building stage, you won’t be financially well if you are neck-deep in debts. That is why you need lessons on debt management. Debt management is simply preventing your debts from spiraling out of control using careful planning and budgeting. Under a financial literacy program, you are taught how to plan and draw a budget to help you pay off your debts. Other literacy programs come with a budget planner that helps you to plan and draw an effective budget. Our GuardianWealth financial literacy program has a budget planner; a tool that you can use to draw your budget without stress. It is very easy to use and tailor-made for you. We invite you to try our budget planner today.
Several benefits can be derived from following a financial literacy program and these include:
Knowing that you are in a financial literacy program that will eventually lead to financial freedom is a stress reliever. According to research, about 60% of Americans stress over money or the lack of it. Out of the 60%, 22% are moderately stressed, while the chunk of them, 38%, are severely stressed. This has led to lots of health-related problems, less vitality, and low productivity. However, financial programs can bring you the desired peace of mind that you require to enjoy life and be more productive. By saving, building wealth, and reducing debts, financial programs provide you the opportunity to enjoy life. You can then be more productive in your personal and professional life. For a sound financial program that will ensure your financial freedom, use GuardianWealth’s financial literacy program.
Another benefit of a financial literacy program is it helps you plan for the future. Sooner or later age will catch up with you. It’s either you spend the rest of your twilight years opening doors and greeting customers at grocery stores or playing with your grandkids or even holidaying on an island. Without adequate retirement plans, your old age would be full of stress depriving you of the joy that comes with retirement. However, a financial literacy program ensures that you save enough for your retirement so that you won’t have to worry about where the next meal (or money) will come from.
Financial wellness leads to more vitality and high productivity. It helps you to enjoy life and puts a spring in your step even at the workplace. Having the assurance that you have enough money to enjoy life both now and in the future will set your mind and heart at peace. Financial literacy programs will help you to be more productive at your work which may lead to more financial benefits like bonuses, promotion, and salary increment. Your personal life would also be positively affected when you subscribe to a financial program. You’ll not only have the time to socialize but the energy and the vitality to be the life of the party. This can also prolong your lifespan and help you live a healthy life both personally, socially, and professionally.
The most important benefit you can ever derive from a financial literacy program is, as the name suggests, financial wellness. Financial wellness is having enough money to never have to worry and stress about finances. Financial wellness not only improves your finances but your overall well-being. It gives you better concentration at work and helps you enjoy life. Financial literacy programs come with tools that can make it easier for you to become financially well. Take for example our GuardianWealth financial program which comes with tools such as the budget planner and the investment tool. While the budget planner helps you to reduce debt by cutting down your expenditure and maximizing your savings, the investment tool helps you build wealth by investing as low as $100 regularly. Being financially well is hard work, but these GuardianWealth financial literacy program tools make it easier.
Financial literacy programs are great for people from all walks of life. These programs can help them to overcome financial hurdles, build wealth, and enjoy life. However, financial literacy programs don’t adopt a one-size-fits-all approach. They are tailored to suit people of different age groups. For a program that is tailor-made for you, try GuardianWealth financial literacy program today.