by Quadia Muhammad, Program Director, Delaware Financial Literacy Institute
To celebrate National Financial Literacy Month, which is commemorated during the month of April, the Delaware Financial Literacy Institute (DFLI), the coordinators of First State Saves, encourages Delawareans to build their savings and not their debt.
Ronni Cohen, Executive Director of DFLI, encourages young adults to learn more about their finances and to cultivate a habit of saving early and often. “Dealing with money is more complex today compared with that of a generation ago,” said Cohen. “Twenty years ago, knowing how to maintain a checking and savings account was enough for most Americans. Today, consumers require both financial and technical knowledge and the ability to differentiate among a myriad of products, services, and providers of financial products to manage their money successfully.”
“Americans now have access to credit much earlier than their parents did,” Cohen continued. “Today it is critical to have a strong understanding of credit and the impact of compound interest. The good news is that it’s never too early – or too late – to learn how to manage money, and DFLI is here to assist.”
In honor of Financial Literacy Month, DFLI has created the 30-Day Money Challenge. Participants are encouraged to make money a part of everyday conversation utilizing 30 tips and tricks to save. DFLI will also be hosting the following free local events in celebration: Colossal Couponing, Family Night at Junior Achievement, and College Secrets: How to Save Money and Cut College Costs.
About The Delaware Financial Literacy Institute
DFLI sponsors First State Saves, an America Saves affiliate. First State Saves is dedicated to helping individuals save money, reduce debt, and build wealth. Participants are encouraged to determine a financial goal and to make a pledge to save. For more information about DFLI and First State Saves visit DFLI.org.