How’s Your Financial Literacy?

As a wellness consultant, I often see that when people think about health, the first things that come to mind are nutrition and physical activity. Over the past few years, mental health has also received increased attention due to rising stress, anxiety, and burnout. However, there is another major pillar of well-being that is often overlooked: financial health.

Financial stress is one of the most common sources of chronic stress for adults. According to the American Psychological Association, about 72% of Americans report feeling stressed about money at least some of the time, and many say financial stress impacts sleep, mood, and productivity. In workplace settings, employees experiencing financial stress are also more likely to report distraction, absenteeism, and reduced performance.

April is Financial Literacy Month, making it the perfect time to check in on your financial well-being. 

How is your financial literacy?

Financial literacy is often misunderstood as how much money you have saved or how much debt you carry. While those are a part of the equation, true financial literacy is understanding the broader spectrum of your financial health, including:

• Cash flow (what comes in vs. what goes out)
• Your debt terms (interest rates, balances, repayment timelines)
• Understanding your benefits and retirement accounts
• Having the confidence to make financial decisions and knowing the implications
• Having visibility into your financial “big picture”

Financial literacy is less about income level and more about knowledge, awareness, and control.

Some questions you can ask yourself as a barometer are:

• Do you know your current credit score?
• What are your credit card interest rates? (Many average 20%+ nationally)
• Are you receiving your full employer 401(k) match? (If not, you may be leaving “free money” on the table)
• Do you know your monthly fixed expenses (an approximate range?)
• How did your investments perform last year?

If not, you’re not alone. Research consistently shows that many adults avoid engaging with their finances due to stress or uncertainty—but avoidance often increases anxiety over time. 

One suggestion I’ll share is to have a “money date”. Set aside 30–60 minutes to review your finances without judgment. The goal is not to fix everything—rather, it’s to build awareness and understand where you’re currently at. Think of it as a quarterly check-up/physical, but that you can do at home.

Here are 5 action items for you to get started on your financial check-up:

1. Check your credit score (free + fast).

You can do this from the following credit bureaus:

• Experian.com
• Equifax.com
• TransUnion.com

Tip: You can also request a full free credit report from AnnualCreditReport.com.

2. Freeze your credit (protect against identity theft).

Freezing your credit prevents new accounts from being opened in your name. This is a good step if you don’t plan to open any credit accounts in the near future. You can do this at the 3 credit bureaus we mentioned earlier.

• Equifax: equifax.com/personal/credit-report-services/credit-freeze
• Experian: experian.com/freeze/center.html
• TransUnion: transunion.com/credit-freeze

It’s free and can be lifted anytime.

3. Review your 401(k) or retirement plan & increase even by 1% for compounded interest over time.

• Log into your employer benefits portal (e.g., Fidelity, Vanguard, Empower, etc.)
• Check:
  • Your contribution percentage
  • Employer match (commonly 3–6%)
  • Investment allocation (stocks vs. bonds)

Make sure you are maximizing any employer match/investment so you aren’t leaving money on the table. 

4. Calculate your fixed monthly expenses so you know where your money is going each month.

Consider the following expenses:

• Rent/mortgage
• Utilities
• Food/groceries
• Insurance
• Debt payments
• Subscription services (phone bill, apps)
• Fun/entertainment

You can use tools such as:

• Mint (by Intuit)
• YNAB (You Need A Budget)
• Monarch Money

You can adjust some of these discretionary expenses should you choose, but the first step is at least knowing where your dollars are going so you are spending consciously.

5. Understand “the basics” of your investments.

• Check your 401(k) or brokerage dashboard (Fidelity, Vanguard, Schwab, etc.)

Check:

• Overall account performance (1-year view)
• Asset mix (stocks vs. bonds vs. cash)
• Whether your allocations still match your goals

If you feel you need external help, ask a friend or family member to help explain, or reach out to a financial advisor.

Financial wellness is not about perfection or wealth—it is about awareness, consistency, and confidence in your decisions. Just like physical and mental health, financial health improves over time when it is regularly acknowledged instead of avoided.

This Financial Literacy Month, take one small step toward clarity and feel free to share it with me if you need an accountability partner. Even a single check-in can reduce stress and increase a sense of control. With financial clarity, you’ll feel more mentally in control. Taking just a few small steps can help you feel empowered and encourage you to level up.

For information on offering a financial wellness seminar for your staff, or for more info. on recommended financial advisors, reach out to Daily Dose for resources.

Author: Georgia Homsany is the owner of DAILY DOSE Wellness, author of “You’re Not Lazy- Change Your Words to Change Your Worth” and a mental health & wellness speaker. info@dailydose-wellness.com.