Financial Literacy Feed

financial literacy

The AICPA and its members continue to be at the forefront of the financial literacy movement with free programs, resources and thousands of CPAs across all 50 states volunteering to help Americans with their financial understanding.

 

 

 

 

 

 

 

 


 

Volunteer This Financial Capability Month

Volunteer-april
April is National Financial Capability Month, an annual event designed to help Americans improve their understanding of finances. As a CPA, you can significantly increase its value and impact, and help ensure the month is more than just a reminder to consumers to save and spend wisely. When you get involved, you can:

  • Help Americans build their financial understanding and capabilities
  • Strengthen and advance the CPA profession
  • Give young CPAs an opportunity to develop leadership skills
  • Volunteer and build your network at the same time

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March Money Madness

Pig - BasketballWhile many CPAs are in the depths of tax season right now, sports fans are entering the height of the college basketball season: March Madness. Even the most lackadaisical college basketball fan can’t help but get into the spirit. It also can be a prime time for overspending, whether buying rounds of drinks while watching the game at the bar or participating in the office pool. Although the NCAA tournament may be a one-and-done system, CPAs know all too well that this is not the case with personal finances.

The commonsense financial approach to events like March Madness are usually your typical stick to a budget, think before you spend, etc. But often no matter how many “tips to save money” you put out there, consumers are still drawn in by the pressures of friends, family and the media. While the individual consumer may know all the tips and tricks and understand the impact their decisions will make, that doesn’t mean it’s easy, and it doesn’t mean they’ll do it. So how do we, as professionals in the finance community, combat this? How do we change the thinking of Americans to one be focused on financial wellbeing?

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Emotions at Play: To Spend or Save?

Whether we like it or not, emotion plays a part in almost everything we do; from making a move at the end of a date to hitting the snooze in the morning before work. Emotion is that little bug in your ear that can sway your decision making, no matter how logical you may try to be. That’s why strong emotions, such as love, can make you feel so crazy. 

Pig - Love 2I’ve worked on the Feed the Pig campaign for several years, and as a member of its target audience I know firsthand that emotional spending is a common struggle for my peers. This is especially true when it comes to holidays, like today, Valentine’s Day, when Americans feel compelled to spend that extra dollar to show someone that we care, no matter how unnecessary and unrealistic it may be.

A few weeks ago, we sat down with National Financial Literacy Commission members Kelley Long, CPA/PFS, and Clare Levison, CPA, for a Facebook chat with consumers about finances and the role that emotions often play in our decisions. Here are a few of the top Q&As from the event:

 

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Celebrating a Life of Service

MLK-Day-of-Service“Life's most persistent and urgent question is, 'What are you doing for others?'” – Martin Luther King, Jr.

Today we celebrate Martin Luther King, Jr. Day, a day commemorating the extraordinary work and sacrifice of an incredible man; a day when people across the country strive to answer King’s question by coming together to serve their neighbors and communities. King is best known for his dedication to the advancement of civil rights, and, in his later years, poverty eradication and economic justice.

The MLK Day of Service is part of United We Serve, the President's national call to service initiative, asking Americans from all walks of life to work together to provide solutions to our most pressing national problems.

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In the News: CPAs Providing Financial Guidance for 2014

New-year-resolution

In a recent post I detailed a number of articles highlighting tax tips provided by AICPA staff and members that individuals can use to save themselves money when they file their 2013 returns.

As the calendar flips to 2014 (the year of the polar vortex), AICPA members and staff have been providing guidance on how to ‘recover’ from holiday spending, save more in 2014, and outlining tax changes that may impact consumers.

Continue reading "In the News: CPAs Providing Financial Guidance for 2014" »

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