It is the perfect time to start building a foundation for a healthy financial future. Good financial health is the foundation on which strong and resilient households, communities and economies are built, but the reality is, many struggle to manage their financial daily lives.
In recognition of Financial Literacy Month, Denise Horvath, a Market Director with JPMorgan Chase in Tennessee, offered top financial tips to help achieve financial freedom and build generational wealth.

1. Small steps lead to bigger opportunities: No matter what amount get kids started on their financial journey. Ask your bank about of money you have, taking small steps towards building a solid fi- opening up a joint checking account geared towards children to nancial foundation is key. Whether it’s saving a little more each help them establish good financial habits. A joint account can offer month, starting to save for the first time or monitoring your credit features designed to help kids learn the importance of saving and score, these steps can help you prepare for the unexpected while meeting their financial goals, whether it’s tracking their spending, setting you up for long-term success. creating recurring payments and setting spending limits, or being rewarded when completing chores and earning an allowance to

2. Establish good credit: The main elements of securing a good deposit. Once your child understands the importance of saving the credit score include paying your bills on time, the length of time money they earn, they can begin to build savings habits that will you’ve had a credit history, and the amount and type of accounts last a lifetime. you have. Potential lenders will use this information to determine your credit risk. Managing your finances wisely will help you estab- 5. Ask for help: Whether it’s meeting with a banker or talking to lish strong credit, a practice that will pay off when you want to make friends or family, conversations and advice can be critical to im-
larger purchases like a car or a home. proving financial health, from building a budget to more complex
matters like saving for retirement.

3. Embrace digital tools: Apps, online goal sheets and budget builders are a great way to manage your finances. Look into what digital 6. Keep the conversation going: Talk with your partner or other famtools your financial partner offers. Whether it’s credit and identify ily members regularly about your financial goals and how you plan monitoring, or setting up repeating automatic transfers from your to achieve them, and check in with your children to discuss their checking account to your savings account, these tools will help financial activity – whether it be what or where they’re spending, keep you on track with your payments and savings goals. how much they’re earning, or their savings goal. These discussions all provide opportunities to keep money as part of your family con4. Include the whole family in the process: It’s never too early to versations.

Establishing solid financial habits can be a lifetime process, but it’s easier if you learn the fundamentals as early as possible. It’s never too early, or too late, to begin your journey, and this month is a great time to get started or recommit to your financial health.


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