External Site

You are leaving Member One's website. The credit union is not responsible for the content of any other website. The privacy and security standards of other sites may differ from those practiced by the credit union. You should review the privacy and security policy of any site before providing any information.

Proceed Cancel
Members, confirm your contact information: We're preparing to integrate with Virginia Credit Union. Please review and update your contact information to ensure uninterrupted access. Log in to Online or Mobile Banking, call us at 800.666.8811, or visit a Member One retail center.
Attention Members: Be aware scammers may contact you by text, phone call, or email pretending to be Member One. They may use phone numbers or addresses that look like ours. They might ask for account details, passwords, codes, or request you click suspicious links. NEVER share this personal information when contacted unexpectedly or feel pressured to click a suspicious link.
Finances April 10, 2023

Five Key Components of Financial Literacy

Share

According to the Financial Literacy and Education Commission, if you have these concepts down, you’re on your way to good financial health.

1. Earning – In order to be financially stable, you’ll need a source of income.

2. Spending – You should actively spend so you’re meeting all your needs, allowing for wants, and setting some aside for savings.

3. Saving - Speaking of savings, it’s important to build up some financial reserves for the future.

4. Borrowing - You should fully understand all the ins and outs of any loans you need.

5. Protecting - Those who do well with money, know how to safeguard their money.

The more you master these five key concepts, the healthier your financial life will be!

For more information about the basics of managing money, take a look at our FREE online courses about building financial capability in our online Financial Education Center.

You May Also Like

Consumer Fraud Blog Image
Finances
Consumer Fraud Protection Tips for 2025: Keep Your Finances Safe

Protect your finances in 2025 with fraud prevention tips, identity theft protection, and Member One’s tools to secure your financial health.
Dad and daughter with piggy bank
Finances
Happy Financial Capability Month! 

At Member One, we’ll be your navigation system as you explore curated e-learning playlists designed to help you chart your financial odyssey and steer towards financial independence.
Fact or Fake graphic 978b8d064138018a1dfad71b9882dd21
Finances
Common Financial Myths Debunked

Put on your safety goggles and buckle up—it’s time to blow up some financial falsehoods.
View More