What is financial literacy?
Financial literacy is a combination of financial knowledge, skills, attitudes and behaviors that are necessary to make sound financial decisions, based on personal circumstances, that will improve financial well-being.
Why is it important?
In today’s fast-paced consumer society, financial literacy is essential. It means being able to understand and navigate the financial landscape by effectively managing money and financial risks while avoiding financial pitfalls.
Improving financial literacy can benefit anyone regardless of age, income or background. It helps people make informed choices on a daily basis that will positively impact their lives.
Financial Literacy @ DCC
The decisions you make now, whether they be choosing which student loan to borrow or simply how to use a credit card, will affect you for years after you graduate. The GOAL Center has registered with loveyourmoney.org, a free financial online course you can access and complete to learn basic principles and techniques for money management and investing. Love Your Money was made possible by a generous grant from the FINRA Investor Education Foundation. The Love Your Money program is coordinated by the University of Tennessee Extension – Department of Family and Consumer Sciences.
Students can expect to learn the following principles from the Love Your Money program:
- Measuring Financial Health
- Spend Less, Save More
- Finding Money to Invest
- How Debt can Keep Us from Building Wealth
- Tracking Your Spending
- Importance of an Emergency Fund
- Basic Investing Options
- Principles of Investing
- Protecting Your Investments