April is Financial Literacy Month

by James Guarino April 02, 2009

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April is National Financial Literacy Month, bringing into focus the major concern we have in this country around understanding finance. With that in mind and the April 15^th tax deadline approaching, this is a good time of year to put together a plan around finances, both for the short and long term…as they say, “if you fail to plan, plan to fail.”

In fact, it has been estimated that two out of three American households will probably fail to realize one or more of their major life goals due to a failure to effectively establish (and implement) a comprehensive financial plan. That is a statistic that simply shouldn’t be – it’s not about how much families have in the bank, but about what is done with the money they do have.

The American Institute of Certified Public Accountants (AICPA) has designed a website to assist individuals with their financial decision-making and it includes information that encompasses virtually every critical financial stage of your life – go to www.360financialliteracy.org and click on “Life Stages” for additional information, or of course leave a comment if you have any questions for us at MFA’s Business Insights.

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Material Discussed in this MFA Business Insights Blog is meant to provide general information and should not be acted on without obtaining professional advice tailored to your firm's individual and specific needs. This information is for general guidance only and is not a substitute for professional advice.

IRS CIRCULAR 230 DISCLOSURE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

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James H. Guarino
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