The reality is, financial know-how isn’t something most people are taught in school. Yet, it plays a crucial role in every stage of life, from opening a first checking account, to securing a mortgage, to planning for retirement. A lack of financial literacy can lead to costly mistakes, debt traps, and missed opportunities.

Según la National Financial Educators Council, in 2023, the average American reported losing over $1,500 due to personal finance missteps. That number only grows when individuals lack access to trustworthy financial guidance.

This is where community-focused banks like North Shore Trust make a difference.

In honor of Financial Literacy Month, here are a few tips we believe can help anyone, at any stage of life, gain greater financial confidence:

1. Know Your Numbers

Start with the basics: income, expenses, and debts. Track your spending and identify where your money is going. Tools like budgeting apps are helpful, but sometimes just a pen and paper can reveal more than you expect.

2. Build (and Keep) an Emergency Fund

Even $500 saved for unexpected expenses can make a huge difference in avoiding high-interest debt or financial stress when life throws a curveball.

3. Understand Credit—and Use It Wisely

Your credit score impacts everything from loan approvals to interest rates. Make payments on time, keep balances low, and don’t open too many new accounts at once.

4. Ask Questions Before You Sign

Whether it’s a loan, credit card, or checking account, make sure you understand the terms. Our team is always here to walk you through options and answer questions honestly—no pressure, no jargon.

5. Plan for the Long Game

Start thinking about your future now. Saving for retirement or your child’s education might feel far off, but early planning can lead to powerful outcomes down the road.

Financial literacy isn’t just something we talk about—it’s something we support with real, accessible tools. That’s why we created the Educación financiera section of our website: northshoretrust.com/resources-tools/financial-literacy-education

Whether you’re brushing up on budgeting basics, exploring the home-buying process, or teaching your kids about money, our online resources are available anytime to help you grow your knowledge and confidence.

We encourage you to explore, learn, and reach out to our team with any specific questions.

We believe financial literacy is a lifelong journey, and you shouldn’t have to take that journey alone. Whether you’re opening your first account or managing your legacy, North Shore Trust & Savings is here to help.

Our commitment to service, education, and relationships is what sets us apart in a crowded banking world. We’re proud to have been a trusted financial partner in the Lake County community for over 100 years, and we look forward to serving you for the next 100.

If you have questions, want to learn more, or simply need someone to walk you through your options, stop by. Let’s build something lasting, together.