A
2021 Federal Reserve study stated that 32% of adults don’t have enough savings to cover a $400 emergency expense. Financial literacy tools can help everyone plan for the unexpected, as well as a brighter future. Several
eResources in the
Michigan eLibrary (MeL) provide knowledge and insight to help both young and young
at heart learn to better manage our financial lives.
Budgeting and Saving
Having an emergency fund is a good way to prepare for unexpected costs. In
Kiplinger’s
Personal Finance from
MasterFILE Complete,
“De-Risk
Your Finances” offers ideas to help prepare for furlough, layoff, or even job loss. Educating children from a young age about how money works, including budgeting and saving, can be a
helpful step toward future financial independence. The eBook Public Library Collection
has eBooks to help children and teens navigate important money-related topics including
Building
a Budget and Savings Plan,
Teen
Guide to Financial Literacy, and
Financial
Literacy for Gen Z: A Practical Guide to Managing Your Financial Life. Adults and entrepreneurs might consider
The
Memo: Five Rules for Your Economic Liberation,
Money-Smart
Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers, or
10
Ways to Manage Money.
Investing for the Future
Once a safety net is established, planning for retirement might be a part of one’s goals. To better understand the wide variety of retirement savings plan options,
Small Business Reference Center
includes the NOLO Guide IRAs,
401(k)s & Other Retirement Plans (15th ed). This guide provides information about various retirement savings plans, as well as the rules that govern each type.
Library Programming Ideas
National Financial Literacy Month will be recognized in April 2024. Prepare to celebrate by planning programming for your community. Some ideas include:
-
Hold a financial literacy event for families with sharing from local experts such as financial planners, insurance agents, and bankers
-
Design a financial literacy challenge that includes articles and eBooks from the
MeL eResources that patrons can read to be more
informed on a range of personal finance topics
-
Invite families of students who are preparing for college to learn about filling out the FAFSA form and demonstrate the Scholarship Finder in
EBSCO LearningExpress
Each person’s financial life is different, so not every solution will fit every situation. However, libraries have always been considered valuable resources to the communities
they serve. By using the MeL eResources, we can help families understand how
to plan for stable financial futures.
If you have any MeL eResources questions or issues, contact
melerhelp@mcls.org
for help.
Brought to you by
Laura Warren-Gross from the MeL Team.
Supporting Michigan Libraries by Putting You First.
Want more information on MeL? Stay tuned for the next MeL Minute available
on many Michigan library listservs, visit http://mel.org,
or sign up for the MeL Minute and other Library of Michigan e-mail lists via GovDelivery.
We encourage you to share MeL Minutes with your colleagues and networks.
MeL eResources are available to Michigan residents or for Michigan library
or school access only.
This project was made possible in part by the Institute of Museum and Library Services through the Library of Michigan.
Laura Warren-Gross
MeL Engagement Specialist for Public Libraries
Midwest Collaborative for Library Services
517-481-2022
warren-grossl@mcls.org
mcls.org |
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