DENVER (3/29/12)--The National Endowment for Financial Education (NEFE) and the Financial Planning Association (FPA) have partnered to create the Financial Four, a March Madness-like bracket of 32 concepts that helps consumers identify the financial areas that are most important to them.
Using rankings from more than 300 financial experts from FPA membership, NEFE and the FPA identified the primary topics that consumers can use to move toward financial independence.
"There aren't any upsets in this bracket," says Ted Beck, NEFE president/CEO. "It can be overwhelming to prioritize all of the things you need to accomplish to keep your financial life in order. The Financial Four is a fun way for people to visually rank and arrange their financial responsibilities."
The participating planners and advisers turned "bracketologists" ranked their priorities.
Based on their voting results, here is the 2012 Financial Four:
- Live within your means.
- Obtain adequate insurance.
- Build an emergency savings account.
- Establish life insurance for wage earner(s).