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As April wraps up with a warm South Florida spring, it also brings attention to something far less seasonal but deeply essential, financial literacy. Recognized nationwide as Financial Literacy Month, April serves as a reminder that money management isn’t just about dollars and cents,it’s about survival, stability, and long-term success.
For Maria Alvarez, a 28-year-old single mother of one, understanding her finances became a life-changing shift. “I always worked hard,” she says, “but I never really felt like I was getting ahead. I didn’t realize how much of it came down to the way I was managing or not managing my money.”
After attending a local workshop on budgeting and credit basics last year, Maria says she began tracking her spending, built a small emergency fund, and improved her credit score significantly. “It gave me confidence,” she says. “I’m not afraid to look at my bank account anymore.”
The Cost of Not Knowing
According to recent data from the National Financial Educators Council, lack of financial knowledge cost U.S. adults over $1,500 on average in 2024 money lost to overdraft fees, high-interest debt, poor budgeting, and avoidable financial missteps.
“Financial illiteracy doesn’t just impact individual households. It has ripple effects on communities and the economy,” says Dustin Jacobs, a financial educator and community outreach leader with BrightStar Credit Union based in South Florida. “People aren’t born knowing how compound interest works or how to manage debt. These are teachable skills, but we don’t teach them early enough.”
Jacobs has worked with schools, parents, and nonprofits to promote smarter money habits across age groups. His approach is practical and focused on long-term behavior change.
“You can’t just throw a bunch of jargon at someone and expect it to stick,” he says. “We meet people where they are, whether that’s helping a high school student open their first checking account or guiding someone through rebuilding after a financial setback.”
Money Lessons Start at Home
While some states, including Florida, have started requiring personal finance education in high schools, many experts agree the learning should start even earlier ideally at home.
Scott and Lena Thompson, parents of two teenagers in Broward County, recently began talking about money more openly with their kids. “We realized we never really explained things like credit or interest,” says Lena. “They see us swipe cards and pay bills, but they didn’t know what any of it meant.”
Jacobs encourages parents to involve their children in simple money discussions. “Even letting your kid help plan a grocery budget teaches real-world math and decision-making,” he says. “These conversations don’t have to be complicated—they just have to happen.”
A Lifelong Skillset
As digital banking, investing apps, and cryptocurrency become more common, the financial landscape continues to evolve and so does the need for financial education.
Jacobs stresses that financial literacy isn’t a one-time lesson it’s an ongoing process. “Things change interest rates rise, markets shift, new technologies come into play. The more we stay informed, the better equipped we are to make smart decisions.”
For Maria Alvarez, the benefits of learning to manage her money have extended far beyond her own life. “My son just started saving for a bike with his allowance,” she smiles. “I want him to grow up knowing how money works, not fearing it.”
As Financial Literacy Month reminds us, knowledge may not grow on trees but it just might be the best investment anyone can make.
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