April is Financial Literacy Month - ABC 33/40 - Birmingham News, Weather, Sports

April is Financial Literacy Month

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April is Financial Literacy Month, and Caroline Freeney of Prudential offers these tips for people, whether you are 26 or 56.
  • Focus on the "Big Picture" - A good advisor will give you the framework to weigh each financial decision in relation to its short and long-term effects on your overall goals.
  • Set Measurable Goals - Specificity can help shape a successful, well-focused plan
  • Share the full story - Getting an accurate plan in place is incumbent on knowing all the details, such as debt, income, expenses and investments to name a few.
  • Ask for a referral - Friends, family members or other professionals like accountants may be able to refer you to a good financial professional.
  • Put a team in place - Continuous financial, tax and legal developments demand the expertise of more than just a financial professional. You should also consult with legal and tax advisors. 
  • Monitor and adjust - Working with a financial professional doesn't mean yielding control of your finances.  
  • Make sure that you monitor the performance of your portfolio. 

 

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