Financial Literacy is the understanding of personal finances: How someone earns money, how they will save that money, and how they should spend that money. It refers to the understanding of financial skills needed to make informed and responsible decisions for their financial future.
Why is Financial Literacy important?
Being able to make informed and responsible decisions about your personal finances is important both now and down the road. Financial Literacy helps you make the best financial choices for life changing events like higher education, home ownership, retirement, and life’s unplanned events.
How does Financial Literacy help me as a student?
Financial Literacy helps students create a financial plan for college. With a clear understanding of how their money works, students can properly budget their money to cut down on spending and reduce overall debt.