Financial Literacy vs. Financial Empowerment

By Kristen Euretig, CFP®, Founder and Chief Planning Officer

It’s April! Lots has happened – there was an earthquake and an eclipse and you filed your taxes (or for an extension hopefully)!  Yayy!  April is also Financial Literacy Month as you may know from the weekly email video series we have going out to you this month on investing.  

We talk a lot about financial literacy, but did you know experts in the financial education space don’t use the term anymore?  The preferred term is “financial empowerment” because just knowing and understanding your finances isn’t enough – you have to be equipped with the tools and resources to do something about it.  You have to have knowledge, but without empowerment, what does it really matter?  If you don’t feel like you know or can take the next steps to make it happen, then it’s just information sitting in your brain.

For example, everybody knows they *should* save for retirement, but how much?  Are you on track for it?  If not, what do you need to do?  These are the kinds of questions you have to be able to answer to be truly empowered to take next steps with your finances, beyond having the knowledge that it’s going to be good for you, which most of us already have.

At Brooklyn Plans, our mission is to be the go-to for millennial and gen-z women to build confidence with their money, whether you’re buying your 3rd property, preparing for an early retirement or coming up with a plan for repaying your student loan debt.  Get financially literate.  Then get financially empowered.

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