NAFSA Marks Financial Literacy Month with Digital Financial Education Modules
Since 2004, April has officially been recognized as National Financial Literacy Month, a time to highlight the importance of financial literacy and teach Americans how to establish and maintain healthy financial habits.
This year, though, unlike any other time in our lives, many Americans are dealing with financial situations they never expected as a result of the global COVID-19 pandemic. The rise of this pandemic has caused economic repercussions across the United States and the world. Efforts to contain the virus’ spread have caused major business interruptions, which have led to layoffs and other losses of income in many industries, which has rippled throughout the economy as a whole. As a result, the U.S. Stock Market saw its biggest drop since the 2008 financial crisis and record numbers of Americans are filing for unemployment benefits.
The CARES Act, passed by Congress and signed into law late last month, is providing some relief. However, many Americans are responding to tightened financial situations by cutting expenses and delaying major decisions. Still, many are struggling to make ends meet.
For nearly two years, the Native American Financial Services Association (NAFSA) has made digital financial education available to the general public via modules covering a variety of topics. These include basic information like budgeting as well as coverage of more complex topics, like home mortgages, loans, and understanding credit.
As the economy begins to recover, financial education will play a crucial role in helping Americans navigate their current situations and plan for the future. Our financial education tools are free for all to access, and we encourage all consumers to use and share these resources.
There has never been a more important time to make solid financial decisions and NAFSA stands ready to help.
To access these resources, visit https://nafsa.everfi-next.net/.