Financial Literacy

April is financial literacy month, and chances are many people would admit that they could know more about their finances and investments. But while it's important to learn as much as you can about finance at any time in your life, the best lessons are those that are learned early. Financial literacy should start with kids.

While teachers and volunteers can do their part to make sure children of all ages understand money and the important part it plays in their lives, the best place for them to learn about money is at home. A survey last year conducted by the financial literacy site themint.org found that seven out of ten children under age 17 saw their parents as their main influencer when it came to money – proof that lessons learned in the home are those that stick.

It's about values, not math

So how can you teach your children to be more financially savvy? It might be tough when you yourself are struggling to manage your own money and to understand the baffling facts and stats that are part and parcel of money management. The key is to view financial literacy not as a math lesson, but as a means of being responsible with money.

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Taxes seem like they are always getting more and more complicated, despite all of the talk about the need to simplify our tax code.

Here are some easy-to-use websites that we recommend bookmarking to use as resources for your tax questions:

Internal Revenue Service: www.irs.gov The be-all, end-all, and final say on taxes. On the IRS website you can find up-to-date forms, publications, and other information that will be helpful in preparing your taxes. Also, if you have filed your taxes already and are expecting a refund, there is an online tool called "Where's My Refund?" in which you can enter some information from your return to find out when you can expect your money!

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There has been some discussion recently that our nation's budget leaders must do more to address our fiscal imbalance. For example, the recent budget compromise – for the current fiscal year, which is already half over – cuts about $38 billion from spending. Sounds promising? Considering that the total budget deficit for the year is about $1,300 billion, the $38 billion amounts to less than 3% of the actual deficit. Moreover, it is only a bit more than 1% of total outlays for the year. This is the compromise that many in Congress hailed after spending months working toward it.

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