{"id":1825,"date":"2023-04-28T19:21:29","date_gmt":"2023-04-28T19:21:29","guid":{"rendered":"https:\/\/www.sprucemoney.com\/resource-center\/?p=1825"},"modified":"2023-05-04T19:06:11","modified_gmt":"2023-05-04T19:06:11","slug":"financial-literacy-month-spruce-money-tips","status":"publish","type":"post","link":"https:\/\/www.sprucemoney.com\/resource-center\/news\/financial-literacy-month-spruce-money-tips\/","title":{"rendered":"Five Ways to Improve Your Money Habits During Financial Literacy Month, and Beyond"},"content":{"rendered":"\n<p>H&amp;R Block (NYSE: HRB) built the Spruce<sup>1 <\/sup>Mobile Banking app with financial health in mind, leveraging financial insights gained from helping millions of tax clients every year for the past six decades. While we know financial literacy is an essential aspect of managing personal finances, according to a survey conducted by the National Foundation for Credit Counseling<sup>2<\/sup>, 41% of U.S adults graded themselves C, D, or F based on their knowledge of personal finance.&nbsp;<\/p>\n\n\n\n<p>As Financial Literacy Month comes to a close, now is an opportune time to explore five ways Spruce can help make money management easy and convenient via robust tools offered through a sleek and user-friendly app. From automated savings options to in-app credit score access, Spruce is working to help improve the ways in which people think about and manage finances.&nbsp;<\/p>\n\n\n\n<p>Read on for five key ways Spruce is helping empower customers to take control of their financial future:&nbsp;<\/p>\n\n\n\n<ol class=\"wp-block-list\" start=\"1\">\n<li><strong>Tax refund recommendation:<\/strong> Research\u202fshows that one-third of consumers don\u2019t have an intentional plan for how they\u2019ll spend their tax refund, but 45% are open to advice<sup>3<\/sup>. Spruce can help customers put their refund money to good use with its tax refund recommendation feature, which helps customers automatically designate a portion of their tax refund to saving for the future, if they so choose. Read more <a href=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Furldefense.com%2Fv3%2F__https%3A%2Fwww.sprucemoney.com%2Ftax-refund%2F__%3B!!FMox2LFwyA!re7f1VxFyUlSGR-5ScDkLtFzob6QinM66RwXzxf7ZFQHuZrWTLTHRVz_lP5nZxG69BVJEzcNzTRTdXh1zO2GN-C25vPvV6m1vw%24&amp;data=05%7C01%7Cshayla.wilkinson%40hrblock.com%7Cafa4ac97562a4ee0fea208db26f17d6d%7C3ec4eda1a5d1433d90da8dc791283d95%7C0%7C0%7C638146590926072296%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=GubuEZptCKG6CnyUd8M4vOe%2BMj26oNrgk6ZwKV7lHbQ%3D&amp;reserved=0\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"2\">\n<li><strong>Budget tracker tool:<\/strong> Spruce automatically categorizes transactions and the Watchlist feature lets customers choose which areas to keep a closer eye on.&nbsp; This spending overview broken down by category allows customers to see which areas to cut back on or make sure they\u2019re not overspending on subscription services. Read more about it <a href=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Furldefense.com%2Fv3%2F__https%3A%2Fwww.sprucemoney.com%2Fbudget-tracker-tool%2F__%3B!!FMox2LFwyA!re7f1VxFyUlSGR-5ScDkLtFzob6QinM66RwXzxf7ZFQHuZrWTLTHRVz_lP5nZxG69BVJEzcNzTRTdXh1zO2GN-C25vOcARhwQQ%24&amp;data=05%7C01%7Cshayla.wilkinson%40hrblock.com%7Cafa4ac97562a4ee0fea208db26f17d6d%7C3ec4eda1a5d1433d90da8dc791283d95%7C0%7C0%7C638146590926072296%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=OK%2BfmHN7U7L9c77%2BCoj6QwyaSZ3OvWUXJC2TLkBsJx8%3D&amp;reserved=0\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"3\">\n<li><strong>Credit score<\/strong><strong>:<\/strong> There are five primary factors that combine to make up your credit score. Spruce helps customers learn more about each of the five areas in order to make wise, informed financial decisions. To activate the feature, customers can visit the credit tab in the app to complete a simple activation process. After that, they\u2019ll gain access to view their FICO\u00ae score<sup>4<\/sup> any time. By staying informed, customers can always know where their credit score stands, which is a good habit for financial health. Read more <a href=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Furldefense.com%2Fv3%2F__https%3A%2Fwww.sprucemoney.com%2Fcredit-score%2F__%3B!!FMox2LFwyA!re7f1VxFyUlSGR-5ScDkLtFzob6QinM66RwXzxf7ZFQHuZrWTLTHRVz_lP5nZxG69BVJEzcNzTRTdXh1zO2GN-C25vPfuLgERw%24&amp;data=05%7C01%7Cshayla.wilkinson%40hrblock.com%7Cafa4ac97562a4ee0fea208db26f17d6d%7C3ec4eda1a5d1433d90da8dc791283d95%7C0%7C0%7C638146590926072296%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=8MftJ64Y3MjXPRC%2BkePUeoh3%2F8kuraDqU1yUHbqbook%3D&amp;reserved=0\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"4\">\n<li><strong>Round Up:<\/strong> Spruce makes it easy for customers to turn spare change into savings with its Round Up feature. This optional feature allows customers to automatically round up transactions to the next dollar amount and deposit the spare change into their savings account. When customers opt-in to Round Up through the Spruce app, they can see how spare change quickly adds up and helps build savings.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"5\">\n<li><strong>In-app direct deposit switch:<\/strong> Direct deposit is a much faster way to get paid and get money in your account compared to dealing with a paper check. But getting direct deposit set up through an employer\u2019s payroll can be a pain sorting through forms and processes. From within the app, Spruce customers can set up direct deposit from an employer directly into a Spruce Spending account in just a few steps, without filling out lengthy payroll forms. Read more <a href=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Furldefense.com%2Fv3%2F__https%3A%2Fwww.sprucemoney.com%2Fresource-center%2Fnews%2Fstories%2Fdirect-deposit-atomic%2F__%3B!!FMox2LFwyA!re7f1VxFyUlSGR-5ScDkLtFzob6QinM66RwXzxf7ZFQHuZrWTLTHRVz_lP5nZxG69BVJEzcNzTRTdXh1zO2GN-C25vM3GFlhTA%24&amp;data=05%7C01%7Cshayla.wilkinson%40hrblock.com%7Cafa4ac97562a4ee0fea208db26f17d6d%7C3ec4eda1a5d1433d90da8dc791283d95%7C0%7C0%7C638146590926072296%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=Ds8TlMxd2ioUnlOgjWMtk%2FyJ2NCsIWU02%2BAeDGuj4gU%3D&amp;reserved=0\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.&nbsp;<\/li>\n<\/ol>\n\n\n\n<p>These five ways only scratch the surface when it comes to Spruce\u2019s ability to help adults improve finances. Additionally, Spruce accounts are also FDIC insured through Pathward<sup> \u00ae<\/sup>, N.A. Member FDIC., which means your money is insured for up to $250,000 or the maximum amount permitted by law. To take advantage of the many secure and innovative tools offered through Spruce, sign up <a href=\"https:\/\/www.sprucemoney.com\/?campaignid=pr_mcm_pr-the-wire_spruce_Spruce-from-the-Wire-Boilerplate\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.&nbsp;<\/p>\n\n\n\n<ol class=\"wp-block-list\" start=\"1\">\n<li>Spruce fintech platform is built by H&amp;R Block, which is not a bank. Spruce<sup>SM<\/sup> Spending and Savings Accounts established at, and debit card issued by, Pathward<sup> \u00ae<\/sup>, N.A., Member FDIC, pursuant to license by Mastercard<sup>\u00ae<\/sup>. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"2\">\n<li>National Foundation for Credit Counseling. (2019). Consumer Financial Literacy Survey: 2019 Survey Results. Retrieved from <a href=\"https:\/\/www.nfcc.org\/wp-content\/uploads\/2019\/04\/NFCC_2019_Financial-Literacy-Survey_datasheet_final.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.nfcc.org\/wp-content\/uploads\/2019\/04\/NFCC_2019_Financial-Literacy-Survey_datasheet_final.pdf<\/a>&nbsp;&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"3\">\n<li>Research conducted by H&amp;R Block and Qualtrics Surveys, 2,000+ adults ages 18+, Fielded Sept. 15-21, 2021.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"4\">\n<li>Credit score is FICO\u00ae Score 8 based on Experian data. Your lender or insurer may use a different FICO Score than FICO Score 8, or another type of credit score altogether. FICO\u00ae is a trademark of Fair Isaac Corporation. This is a separate service from your Spruce Spending and Savings accounts, provided by Pathward<sup> \u00ae<\/sup>, N.A., Member FDIC.&nbsp;<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>H&amp;R Block (NYSE: HRB) built the Spruce1 Mobile Banking app with financial health in mind, leveraging financial insights gained from\u2026<\/p>\n","protected":false},"author":1,"featured_media":1842,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7,36],"tags":[46,40],"class_list":["post-1825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stories","tag-financial-literacy-month","tag-spruce"],"acf":[],"yoast_head":"<title>Five Ways to Improve Your Money Habits | Spruce Resource Center<\/title>\n<meta name=\"description\" content=\"As Financial Literacy Month comes to a close, now is an 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