(StatePoint) Consumers face major financial decisions at every stage of life. But experts say a basic understanding of financial concepts can help you make better decisions related to money management and reduce your stress at the same time.

“The typical American is called on to make financial decisions every day,” says Heather Ellison, head of Retail Banking at OneWest Bank. “Getting savvy about personal finance can help you go forward with confidence and avoid common pitfalls.”

Only 28 percent of Americans are considered “financially healthy,” according to the Financial Health Network, a nonprofit organization. About 64 percent of Americans say money is a somewhat or very significant source of stress in their lives, according to the American Psychological Association. These figures suggest that if you’re like many people, you are in need of a good dose of financial education — whether you’re figuring out how to pay for college, saving for a home, working out your retirement budget, or protecting yourself from potential scams.

Fortunately, financial education is available and can be a powerful tool in tackling life’s most pressing financial decisions. Take, for example, the recently launched Personal Finance Empowered, a digital financial education platform created by Southern California-based OneWest Bank. It covers 30 different topic areas, including mortgage education, building emergency savings, paying for college and retirement planning. Each area is composed of several short modules designed to encourage participants to build financial confidence through a series of interactive activities. And it’s completely free.

“With modules available at various knowledge levels, and in both English and Spanish, we are aiming to empower a broad range of individuals with the financial agility they need no matter where they are in their financial life cycle,” Ellison continued.

To learn more or get started, visit onewestbank.com/financialwellbeing.

Baffled by the choices offered by your workplace benefits package? Want to hone your savings strategy to meet your financial goals? Don’t let an unfamiliarity with particular financial concepts lead to snap decisions or worse, inaction. No matter where you are in your financial lifecycle, you can empower yourself with the financial know-how you need to meet your goals.