Tips to Save Money During Financial Literacy Month
This year's top New Year's resolution was to save money, which is no surprise considering how deeply it impacts every aspect of our lives. However, a startling statistic from the World Economic Forum reveals that only 50% of US adults are considered financially literate.
As we celebrate Financial Literacy Month, we had the opportunity to speak with Subject Matter Expert and Instructor, Wade Lindenberger, and Supervisor of Student Advising, Amy Pond, from our online skills business, ed2go, about the importance of financial literacy and top tips for saving money.
Wade Lindenberger brings a wealth of experience to the table, with an impressive background spanning over 25 years in executive, finance and ethics roles within public, private and Fortune 500 companies. Currently, he owns his own consulting business, Lindenberger Consulting, and serves as an educator, creating online courses for ed2go and lecturing at the Rady School of Management (Rady), University of California, San Diego. Wade teaches a variety of undergraduate and graduate courses, including Advanced Accounting, Financial Statement Analysis, Personal Ethics at Work, Personal Financial Management and Accounting Ethics for the MPAc program.
From a young age, Wade enjoyed working with numbers and solving complex calculations and his passion for teaching finance concepts developed later in his career. “I find teaching to be quite rewarding, and I see it as a way to give back to the community and future generations. I find the development of finance and other courses a part of the teaching process that particularly interested me.”
Wade found that students are often asked to memorize concepts and calculations without understanding the underlying structure and framework. He explained, “I like to approach the teaching of finance exactly as I would teach students how to learn and speak a language. If students understand the basic building blocks of finance (like letters and words in English) and understand how those building blocks can be arranged to accomplish finance goals and objectives (like the syntax and grammar of English), then they can solve financial problems and issues and prepare financial reports and information effectively (like creating sentences, paragraphs and effective arguments in English). This approach fosters long-term understanding and retention, going beyond mere memorization.”
According to Wade, financial literacy is a powerful tool for individuals to attain financial independence. “Having the freedom to make decisions that are not dictated by purely monetary considerations will help people feel more empowered to live their authentic lives without stress. This is the ultimate goal of achieving financial independence, not money for its own sake, but to enable individuals to experience life on their own terms.”
When it comes to saving money, Wade advises starting by defining your goals and making them SMART (specific, measurable, achievable, relevant, and timely). “By creating a budget aligned with these goals and committing to it, you can work towards achieving your savings objectives more effectively.”
Amy is celebrating a remarkable 18 years with ed2go. Throughout her tenure, she has held various roles, from product support positions to advising students in adult high school programs. In her current position, Amy serves as a Supervisor within our Student Services department, managing a dedicated team of customer service agents. In her day-to-day role, Amy interacts with students who need additional support or personalized assistance to ensue success.
Before joining Cengage Group, Amy worked with an enrollment team at an online university. “At the time, this was a pioneering concept, and I was intrigued by the opportunity to continue working in online education. Ed2go's dedication to providing accessible online continuing education, particularly its progressive approach to empowering adult women learners (who formed our core student base initially), was especially appealing.” Over the years, Amy has enjoyed witnessing the business expand its offerings to include career training, professional certifications and personal enrichment courses, making education accessible to learners of all ages. “The consistent focus on accessible, flexible online education motivates me daily and aligns deeply with my passion for supporting individuals pursuing education for career advancement and personal growth.”
Amy strongly believes in the importance of financial literacy, “it equips individuals with essential skills and knowledge to manage their financial lives confidently and effectively.” Having personally taken many of the ed2go financial literacy courses, she can attest to the benefits they provide. Many adults have limited knowledge of personal finance, ranging from basic financial management to more complex topics such as investing and retirement planning. Amy explained that “ed2go provides an approachable, supportive and judgment-free learning environment that empowers adults by enabling them to understand and control their finances. Improved financial literacy leads to increased confidence and personal responsibility, extending benefits into other areas of life, such as career choices and overall personal development.” Amy often shares one of her favorite phrases with students, "It is never too late to be what you might have been," which encapsulates the empowering potential of continuing education.
When it comes to saving money, Amy's top tip is to create and consistently maintain a realistic budget. “I developed and regularly use a budget spreadsheet for my family, enabling me to accurately track our income and expenses. This gives us a clear overview of our monthly and yearly spending, helping to pinpoint opportunities for savings—particularly in discretionary expenses—and ensuring we properly allocate resources towards our key financial goals, including home ownership, credit debt repayment and building a much-needed emergency fund. Ultimately, budgeting provides clarity, control and a strong foundation for achieving long-term financial health.”
Learn More:
Interested in expanding your financial literacy? ed2go offers a wide range of finance courses, including short-term fundamental courses to help individuals sharpen their skills and advanced career training programs for those seeking to start a new career or advance in their current one.
Read up on our previous Financial Literacy Month blogs to further maintain your fiscal health in 2025:
Three Steps to Enhance Financial Wellbeing During Financial Literacy Month