Financial literacy

Financial literacy for students is an important tool to improve the financial capability of our youth and communities. Students should be taught how to handle money—both at home and in school. This will help reduce the economic impact of the long-term recession that now grips many communities across the country.

 

Why is financial literacy important for students?

 

Financial literacy is important because it equips us with the knowledge and skills, we need to manage money effectively. Without it, our financial decisions, and the actions we take—or don't take—lack a solid foundation for success. ... Nearly half of Americans don't expect to have enough money to retire comfortably.

 

How does financial literacy affect students?

 

There is ample evidence of the impact of financial literacy on people's decisions and financial behavior. For example, financial literacy has been proven to affect both saving and investment behavior and debt management and borrowing practices.

 

Why is it important to teach your students financial literacy and three ways?

 

Beginning important financial skills conversations with students early on can help them learn the importance of savings, staying in school, going to college, career planning, and how each has a profound impact on their future financial success.

 

What is the impact of financial literacy?

 

Financial literacy gives you the ability to clearly articulate your expectations. From talking down interest rates on the money you borrow to bringing up the goals you have for the money you invest—your ability to negotiate your best option will dramatically increase, the more knowledgeable you are.