In the United States, April is officially Financial Literacy Month. Throughout the month, both children and adults are encouraged to learn about good financial practices and to start putting these practices into action!
At PLR, we believe insurance knowledge is an important part of financial literacy. So important, that when you come to us with questions about your policy, we take the time to sit down and have a conversation.
However, financial literacy isn’t just for PLR customers, it’s for everyone! Here’s a few practices that everyone can take to be more financial stable and literate.
1. Make a Budget and Stick to It!
Making and sticking to a budget is one of the best things that you can do for your finances. No matter what stage of life you’re in, you should be putting a little bit of money away every month. If you aren’t sure where to start, take a month and keep track of all of your expenses. At the end of the month, target areas where you could potentially cut down. You’ll be saving in no time at all!
2. Practice the 30 Day Rule
Do you find yourself constantly buying things (even little things!) and then later, wishing that you hadn’t? If so, the 30 day rule is for you! The 30 day rule was created to help impulse spending. Here’s how it goes: if you decide that you want something that isn’t a necessity, wait 30 days before buying it. If you still want it at the end of 30 days, treat yourself and get it. For a lot of things, however, your desire will go away, allowing you to save more money!
3. Get Your Insurance Plans in Order!
At PLR, we believe that no two insurance needs are the same. Taking the time to sit down with an experienced agent could help you identify areas in which you could save--or perhaps, areas where you are actually underinsured. If you’re interested in exploring different kinds of insurance, contact PLR today!
No matter who you are, financial literacy is important. PLR encourages everyone to take financial control and make well-informed financial decisions.