1. Don’t underestimate the importance of continuous financial education

Financial education is a lifelong journey. Your high school personal finance class (if you were fortunate enough to be offered one) is not the end of the road. 

As our financial world continues to evolve, it’s essential to keep up with education. Take, for example, transformative new financial technologies like cryptocurrency and BNPLs. For many of us, these technologies didn’t exist when we were in school finance classes, so it necessitated extended education to learn what they are and how they can (and should) be used. As innovation continues, especially with the explosion of AI, it’s a guarantee that new financial technologies will arise that require continued financial education.

Moreover, ongoing financial education unlocks financial opportunities you may not have previously been interested in or understood how to pursue. Were you interested in options trading or retirement planning in your high school finance class? Probably not. But as you grow older, your financial interests and goals evolve. Keeping up with financial education allows you to find new financial opportunities for each unique moment of your life, including some you may have never considered. It also helps you prepare better for the future. For example, even if retirement isn’t imminently on your mind yet, learning the importance of retirement planning and easy strategies can help you get a head start before you otherwise would have. 

We must also face the failures of financial education in this country. Our alarmingly low financial literacy rates — which continue to fall for younger generations — are in many ways the byproduct of inaccessible, inequitable, and often ineffective financial education. That’s why it’s essential to take control of your own financial literacy by seeking out education that works for you. Check out financial literacy apps or resources that make learning simple, rewarding, and fun.

2. Don’t replace financial advisors with social media influencers

While you should absolutely take control of your own financial education, be wary of relying on social media too much. This isn’t to say we think social media is inherently bad — we actually think social media can bring value to education pedagogy. It’s accessible, engaging, and even motivating. But the truth is: it’s one of the least reliable platforms for financial education.

For influencers who promote reliable content, or even financial institutions with social media presence, it’s still not a replacement for individualized financial support. Financial advice isn’t one-size-fits-all. Social media channels just can’t give you the best advice for your individual circumstances when they are speaking to thousands if not millions of viewers. 

It’s also important to be wary of sponsored content. If an influencer is giving advice through a paid partnership, it’s likely the focus is more on selling a product or company than providing the best advice for each viewer’s circumstances. 

Whether it’s through a financial advisor, staff member at your financial institution, or another accredited source, it’s hugely beneficial to have individualized financial support and advice. 

3. Don’t wait until tomorrow

Finance can feel intimidating or boring, so it’s understandable to want to put off learning financial literacy or taking steps toward goals. But this behavior limits your financial potential.

It’s impossible to understate the importance of a “Start Today” mentality. Want to save more money? Start today. Want to learn more about personal finance topics? Start today. Want to reach any financial goal? Start today.

With financial literacy and individualized financial support, there’s no reason to wait for tomorrow. Now that you’ve made it to the last sentence, it’s time to Start Today.