How Financial Learning At Any Age Is Helpful

April 16, 2024

Whether you are saving for a dream home or vacation, planning for your retirement, or just want to have a better understanding of your finances, being financially literate is a crucial life skill. It is so important that in 2003, April was established as Financial Literacy Month across the United States. At OceanFirst Bank, our goal is always to raise awareness on what financial literacy is, why it’s important, and how we are helping our neighbors, but we have some special activities planned during April. 

What is Financial Literacy? 

It’s the knowledge and skills to make responsible and informed financial decisions that contribute to a sense of financial well-being. Some of the main components of financial literacy are: 

• Budgeting 
• Saving 
• Investing 
• Preventing against identity theft 

Why is Financial Literacy Important? 

It can help empower individuals to make smarter decisions. Additionally, it can:  

• Help prevent mistakes – allows you to have the confidence and knowledge to approach life-changing decisions. 
• Prepare you for an emergency – there may be a time where you come across an unexpected financial expense, but knowing how to save and having an emergency fund can help limit the blow.  
• Help you reach your goal – by better understanding how to budget and save, you can create plans and set expectations for reaching your goal.  

How can we help you? 

At OceanFirst, we believe it’s important to help our communities thrive through financial education. We have partnered with nonprofit organizations and schools to personally teach our neighbors of all ages how to establish and maintain healthy financial habits. 

In 2024, more than 900 people throughout New Jersey and the metropolitan markets of Philadelphia and New York will participate in financial literacy programs hosted by OceanFirst bankers. Check out the Bank’s social media pages to see highlights throughout April.

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