Financial Literacy Month: Must-know tips for every age.

April is Financial Literacy Month. It is a great time to improve your financial confidence, no matter your age or stage in life. 

Financial education is important. It matters for everyone. This includes teens getting their first paycheck. It also includes college students managing student loans. 

Parents planning for their family’s future need it, too. It is the key to long-term stability and success. Here are must-know financial tips, tools, and local resources to empower you this month and beyond. 

Teens (Ages 13–17): 

This is the ideal time to build a foundation of smart money habits. Teens should learn to make a simple budget. They need to tell the difference between needs and wants. 

They should understand how savings accounts and debit cards work. They should also learn about the power of compound interest. Tools like Greenlight and BusyKid can help teens manage money in a supervised setting. 

Key skills to work on: Budgeting, understanding saving vs. spending, understanding the power of compound interest. 

Young Adults (Ages 18–25): 

As financial independence grows, young adults should focus on managing student loans, building credit, and starting an emergency fund. It’s also a great time to learn about 401(k)s, Roth IRAs, and basic investing. 

Key Skills: Debt management and credit-building strategies. 

Parents: 

Parents juggle multiple financial responsibilities—housing, childcare, education, retirement—and also serve as financial role models. It’s important to involve children in age-appropriate financial conversations and model responsible money behavior. 

Key Skills: Long-term financial planning and teaching kids about money. 

Fortunately, there is a wealth of resources to help you grow your knowledge at your own pace: 

• Budgeting apps like YNAB, Mint, and EveryDollar simplify money tracking and help set goals. 

• Credit monitoring tools such as Savvy Money, Credit Karma, and Experian help you understand and improve your credit score. 

• Books and podcasts—try The Psychology of Money by Morgan Housel or Planet Money for engaging, relatable financial education. 

The D.C.-Virginia-Maryland (DMV) area has many great chances to improve your financial knowledge. Many of these options are free or low-cost. 

Local Workshops & Events: 

• Lafayette Federal Credit Union hosts free workshops on topics like budgeting, credit building, retirement, and homeownership. See our Events page for upcoming sessions. 

• Prince George’s Community College, Montgomery College, and Northern Virginia Community College (NOVA) offer financial literacy classes for everyone. 

• DC Public Library locations offer budgeting workshops, credit repair clinics, and youth-focused money events during Financial Literacy Month. 

• Virginia Cooperative Extension and University of Maryland Extension provide financial education workshops online and in-person across the region. 

Online Resources: 

• Financially Fit DC from the D.C. Department of Insurance, Securities and Banking (DISB) offers personal finance coaching, budgeting tools, and online learning modules. 

• Cash Campaign of Maryland offers free tax preparation, webinars, and financial coaching for Maryland residents. 

• United Way of the National Capital Area works with nonprofits. They offer financial literacy workshops and connect people to trusted local financial advisors. 

These programs address the DMV’s specific financial challenges. These include high housing costs and job changes in a tough job market. 

Financial literacy isn’t optional—it’s essential. The earlier and more often you engage with your finances, the more confident and secure your future will be. This year, use Financial Literacy Month to set new goals. Explore local workshops and find helpful tools in the DMV. 

And remember—Lafayette Federal Credit Union is here to support your journey every step of the way.