What is Personal Financial Literacy?

Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. Financial literacy is the foundation of your relationship with money, and it is a lifelong journey of learning.(1)

The class ensures that students have a working familiarity with:

• budgeting money

• saving and investing money

• credit and borrowing money

• insuring and protecting life & property

• college and post-secondary education & training

Why is Financial Literacy Important?

Financial literacy is important because it can help people avoid or correct high levels of debt, be better prepared for major purchases, retire comfortably and overall, maintain the self-confidence and peace of mind which comes with having one’s financial house in order.

For example: Three years after implementing a financial education mandate for high-schoolers in Georgia, Idaho, and Texas, all three states saw increased credit scores and lower delinquency rates on credit accounts, according to a FINRA Investor Education Foundation-funded study.(2)