Financial Literacy—Do You Know Where Your Money Goes?


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 ( for more information.