November is flying by but there are two weeks left to earn an ‘A’ in Financial Literacy. How do I do that you may ask? Definitions of literate include ‘to be knowledgeable’ or ‘to be well-read on a topic’. I don’t have a whole lot of time to read these days but thanks to the Internet, information is readily available readily through other channels such as the Internet, podcasts, radio and TV.

The key is to know what knowledge you must acquire to become financially literate. I suggest that you start with these concepts:

• Basic Definitions – Income, expenses, debts and assets
• Net Worth – What is it and why is it important to strive towards positive net worth?
• Personal Financial Statement – What’s does your money picture look like?
• Cash Flow – What is it and why is it important that it’s positive?
• Credit Rating – What is it and how do I develop and maintain a positive rating?
• Credit and Credit Cards – How do they work? How is interest charged?

These are the building blocks upon which you can base decisions and plans regarding your personal finances. Making smart money choices leads to great options in the future.

Aim for an ‘A+’ next week by translating the knowledge into action!