It’s a buzz word you no longer can ignore: financial literacy. Why? Because it’s essential for financial survival in today’s economy. And that’s a fact of life.


Regardless of your age, ask yourself three questions:


1. Do I get a good grade when it comes to the financial facts of life? If yes, you make smart decisions when shopping for a mortgage or other loan, reconciling your accounts, choosing retirement plans, comparing insurance policies, and even when paying for everyday purchases. If you don’t get an “A” when it comes to the financial facts of life, you may be wasting money on expensive alternatives, paying for services you don’t need or want, or making yourself vulnerable to identity theft or other forms of fraud.


2. How can I boost my financial IQ? The Federal Trade Commission recommends you visit You’ll find an array of resources to help you make well-informed decisions–saving for an emergency or unplanned expense, investing for your retirement, and everything between. Your credit union is another solid resource for personal finance education.


3. What’s my best line of defense? Educate yourself. Take time to develop a spending plan, learn how to manage your money wisely, shop around for everything from purchases to insurance policies, and know the signs of a rip-off.


Make smart decisions now, and you’ll have a solid financial foundation in the coming months and years.


Ascentra Credit Union is a valuable resource for money management and has professionals that can help with retirement and investment needs, home and auto insurance, and even trust services.


Other education with tools are also available for everyone like Ascentra Making Cents, a series of short educational videos that explain topics like auto loans, selling your home, wills and much more.



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