Amplify Your Money Management Skills
In honor of April’s designation as Financial Literacy Month, AAA has tips and resources to help you optimize your savings.
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If there were ever a perfect time to analyze your finances and create strategies for income growth, it would be now. Inflation is losing speed; interest rates are expected to trend down through 2025; and there are plenty of choices for financial tools such as high-yield savings accounts and certificates of deposit (CDs).
To put a fine point on the importance of prioritizing personal economics, April is officially designated National Financial Literacy Month. Similar to the ways in which learning to read (literacy) opens up new worlds of understanding and experiences, financial literacy means understanding the tools, processes and thinking that lead to smart money management. And when you have good money management, you can make your dollars work for you.
AAA puts financial literacy in the spotlight
AAA is doing its part to promote monetary mindfulness by offering members free access to a series of six financial webcasts on topics such as investing, storm protection with insurance, and automotive purchasing. The first webcast is scheduled to kick off live on April 18, 2024, with the rest as fast follows. All will also be available on demand.
Tools of the trade
AAA is also leading the way to smart savings by offering members access to a variety of financial tools that can help make every dollar work harder.
- CDs: Select a term from six months to 60 months at competitive interest rates.
- High-Yield Savings Accounts: Open with $100 minimum.
- Money Market Accounts: Take advantage of competitive interest rates.
AAA banking experts are available virtually and in person (at select branch locations) to answer questions and help with financial planning, online banking enrollment and more.
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Budgeting Apps
Financial literacy and money management can be complex and involved, but they always begin with the foundational need for budgeting. Once you identify your expenses, income and available funds, you’ll be in the best position to make smart purchases, control debt, and set yourself up for good credit and favorable interest rates on future purchases.
“When it comes to budgeting, how you do it isn’t as important as ensuring you’re doing it,” explains Trina Bowden, AAA Bank distribution consultant. “Whether you’re writing it down or using an app, you’re taking that step to take control of your money and understand where it’s going.”
There are several budgeting apps available. Some of the most popular are free downloads. Here's a short list:
Enjoy the peace of mind and freedom that come with financial literacy by taking steps to budget, save and grow your money. AAA can help you plan and forecast so you can follow a personalized path to smart money management.