Why financial literacy is so important and how Namu helps

May 30, 2019 by Tiffany Washington

I was fifteen years old when I opened my first bank account. My father took me to the local bank branch, introduced me to a gentleman named Bill, and advised me to consult Bill anytime I needed financial guidance.

I received a debit card, and a department store credit card which I was only allowed to carry and use seasonally when shopping for school clothes. I never had a clue how or when the credit card bill was paid, but I thought we were onto something. I felt I was gaining financial independence.

Eventually I began working full-time and paying back my student loans, but unfortunately, Bill was no longer at my local bank to help me. The company was bought over three times by that point, and I had become a mere number (and a small one at that) at a huge financial institution. There was no Bill to help me figure out how to budget for my first apartment, choose the right savings plans, or save at all.

Meanwhile, some of my friends who earned similar salaries were traveling, moving to better parts of town, and already investing in the stocks and 401Ks– concepts I had yet to even learn about. They didn’t seem to experience the same financial challenges I did, and I couldn’t understand why.

It wasn’t until I was much older that I realized I never had access to the same level of financial literacy as some of my friends. While my parents did a great job with all they had, my family wasn’t set up in a way to ensure I had the financial acumen needed to thrive on my own. Money management isn’t something everyone grows up learning about, and a lack of financial knowledge holds many children back while others are primed for success through the right planning.

Times have changed though, and today there are plenty of ways to help our nephews, nieces, sons, and daughters understand finances and prepare for their futures. Namu is an app that helps families of all kinds manage money and foster better financial health. Whether you’re a financial expert or someone who runs away from numbers, Namu makes it easier to manage your finances and reach financial goals.

Even if we grew up without access to financial tools or still don’t completely understand it all ourselves, we can give our children the very best when it comes to financial planning. Most people don’t have everything figured out, and it doesn’t have to be so complicated. Namu takes the complexity out of financial management, enabling us to better provide for younger generations. That’s why I Namu.

 

Get Namu today to help with your finances!