Money Smart Week, initially coordinated by a group of Chicago-area organizations to promote greater personal financial literacy, has grown into a national public awareness campaign to educate U.S. citizens.
What is financial literacy?
- The ability to manage personal financial matters and to make financial decisions appropriate to your situation
- The familiarity with personal financial products and services including checking accounts, credit cards, insurance, and student loans
Why does financial literacy matter?
- Leads to personal financial stability
- Ensures that individuals make appropriate financial decisions
- Facilitates the development of a stable credit history
- Creates awareness so that potential financial problems can be avoided
How to become financially literate?
- Learn to create and follow a budget—don’t spend more than you earn/receive
- Manage debt—pay bills on time, avoid assuming excessive credit
- Understand various financial instruments--checking accounts, loans, and charge/credit/debit cards
Need more information? Check out the Financial Literacy LibGuide. The library is not a financial advisor, but can assist in your search for additional resources. Contact Regina Beard (firstname.lastname@example.org) for more information.