Financial literacy is now more important than ever. Understanding topics like debt management, emergency funds, budgeting, retirement and investing is vital for building financial stability and wellness. And yet, according to the TIAA Institute, financial literacy remains stagnant in the US.¹

With so much information out there and so much to learn, it can feel overwhelming knowing where to start. As we close out 2025, here are some tips for building a strong foundation of financial knowledge.

Start with your basics

Many factors go into personal finance, but you don’t have to tackle everything all at once. Start by learning and implementing the following basics.

Budgeting and saving

• Track your income and expenses: Before you do anything else, you need to know how much money you earn and where it’s going. Write down your income, your fixed expenses (housing, car payments, etc.) and your variable expenses (everything else). You can track your money manually or use a budgeting app — the important thing is to get a bird’s-eye view of your cash flow.
• Build a budget: Now that you know how much money you make and spend, you can identify which expenses you can cut back on, how much you can save and which budgeting method you want to use. There are many methods and styles out there, but once you find one that works for you, it’ll help you save more, spend smarter and reduce financial stress. Read more about budgets here.
• Start saving. Most professionals recommend growing an emergency fund that covers three to six months of expenses. Each month (or each paycheck), set aside an amount you’re comfortable with. Even if you can only save a little, it’ll add up over time — remember, consistency is a powerful tool. And if you’re saving up for a specific purpose, consider the benefits of our Club Account to help you reach your goals.

Credit and debt

• Understand your credit: A credit score is a prediction of your credit behavior based on information from your credit reports. Having good credit can help you get approved for loans, receive lower interest rates and earn more spending power. Bad credit can harm your chances of getting approved or leave you with less-than-ideal interest rates. Learn more about how to build good credit here.

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• Take stock of your loans: Did you know that a credit card is a loan? A lot of people don’t think of it that way, but a credit card is the most common type of loan people have. Other types include mortgages, car loans, student loans and more. Map out all your loans and interest rates, then make a plan to start paying them down.
• Manage your debt: Paying off debt can feel very overwhelming. Don’t worry, you’re not alone in this. According to an Achieve survey, 35% of Americans face difficulty making on-time payments on their debts.² The key is to take it one step at a time. You can explore different strategies, like the avalanche or snowball method, and then implement one that works for you. You’ve got this!

Retirement and investing

• Get started on retirement: The earlier you start planning for retirement, the better. Compound interest works wonders when given enough time. There are several ways to go about shoring up funds for retirement, the most common being your employer’s 401(k). A 401(k) makes it easy to set aside a little something for your future. Another great option is an IRA (Individual Retirement Account), which offers advantageous tax benefits. You can start an IRA by yourself at any time.
• Study investing: Capital gains. Derivatives. ETFs. The investing world has a lot of jargon that can make it intimidating for a beginner to get started. But once you understand the basic principles of investing, you can gain the confidence you need to determine your own risk tolerance and choose what types of investments (if any) are right for you. Investing, when used wisely, can be a smart way to build wealth — although the stock market can never guarantee returns, of course.

Once you’ve tackled the basics of financial literacy, you can start thinking bigger. But these are vital first steps for building a smart foundation and setting yourself up for a successful future.

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• General Education