Six Lessons for Financial Literacy
April is Financial Literacy Month, an event that began two decades ago to raise awareness about the need for financial literacy. It is just as important as learning to read and write. To get a head start on gaining financial literacy, the Wall Street Journal recently laid out six practical things you need to know. These include the power of compound interest, so-called "good debt", credit utilization rate, "pay yourself first", diversification, and liquidity. Knowing and following God's financial principles for earning and saving money is key to financial literacy. On Faith and Finance, Rob also answers listener questions about accelerated mortgage payoff systems, selling multiple properties, and how pension payments affect Social Security income.