How To Access and Use Your Bank’s Financial Education Resources

Kellan Jansen  Sun, September 8, 2024  GOBankingRates

Some research says only 57% of U.S. adults are financially literate. Those who aren’t financially literate struggle to make informed spending, saving and budgeting decisions. But whatever your level of financial knowledge, everyone has encountered problems they need help to solve.

If that’s where you’re at, your bank can probably help. Many institutions now have free learning resources available to customers. These can teach you new concepts, help you make complex calculations or just make it a little more fun to manage your money.

Accessing Your Bank’s Free Resources

Generally, your bank’s website is the best place to look for these resources. Check the site’s menu bar for something like “learning resources,” “calculators” or “virtual coaching.” Click on whatever you find, and your bank will guide you from there.

Just note that you may need to get on your bank’s smartphone app to access everything. For instance, financial gamification is the concept of using gameplay to make managing money more engaging. If your bank offers it, you may get access only through an app.

If you don’t like having to look things up online, give your bank a call. An employee should be happy to direct you to what you need.

Types of Financial Resources Available

With that out of the way, it’s time to look at some common types of resources banks offer. Here are five you may get value from. Keep in mind that your bank may offer more than these.

Online Articles

Many banks have blogs where they share financial articles. Those can be good resources for learning new things. For example, maybe you’re ready to start saving for retirement but don’t know how to start. A bank’s blog might have articles that answer your questions.

You could learn whether a Roth or traditional IRA is better for your goals — and the tax implications of each. Or you could read about investment strategies that will put your money to work.

It’s true that a lot of this is easy to find on Google. But if you’re making financial decisions, you want the information you’re basing them on to come from trusted sources, and your bank should be trustworthy.

Financial Coaching

Some banks also offer financial coaching. This means meeting with a bank employee to discuss your personal financial situation and goals. You may be able to do that virtually as well as in person. But it depends on your bank.

Coaching is great for tough problems you can’t find answers to yourself. Here are some of the things you could discuss:

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