CUSTOMIZED WORKSHOPS FOR FINANCIAL LITERACY & PROTECTION
The main benefit of financial literacy is that it empowers us to make smart financial decisions. It provides the knowledge and skills we need to manage money effectively—budgeting, saving, borrowing, and investing. This means that we’rebetter equipped to reach our financial goals and achieve financial stability.
ADDITIONAL BENEFITS OF FINANCIAL LITERACY
-More control over your personal finances when you understand financia lbasics, which can lead to more overall confidence, as finances affect everyone’s life in every way.
-More control means possibly less debt as you have a better sense about theimpact of debt on your budget, cash flow, savings, credit report.
-Understand the importance of saving and starting to save as soon as possible,even if it’s just a small amount.
More likely to set financial goals for yourself and have the desire to worktoward those goals, which often means putting off the wants of today to savefor the needs of tomorrow. Individuals and families being able to understand their personal balance sheet and interest rates on home [loans], auto [loans], and credit cards.
-Understand the fees and expenses of their retirement accounts.
WORKSHOPS WE OFFER
GAMSG offers group on-site and online trainings for the following financial literacy topics:
-Understanding Life Insurance
-Debt Reduction Strategies
-Purchasing Your First Home
-Understanding Group Life Insurance & Employee Retention
-Understanding Worksite Benefits
-Work Life Expectancy vs. Retirement Life Expectancy
-Preparing for Service Separation
Financial literacy is important because it equips people with an understanding of basic financial concepts to inform their real-world financial decisions. With this knowledge in hand, they’re better able to manage their money, make sound decisions, and maintain healthy spending and budgeting habits, which over time can lead to financial wellness.
The importance of financial literacy becomes especially clear when considering the financial challenges that many people face:
78% of Americans live paycheck to paycheck.
Student loan debt is $1.5 trillion for more than 44 million borrowers.
Credit card debt is up to a record $1.04 trillion.
21% of Americans aren’t setting aside any money for short-term or long-term goals.