Financial Literacy
What is financial literacy?
1) The ability to read, analyze, manage, and communicate about the personal financial conditions affecting material well being. 2) Term is used to describe financial education programs on college campuses and within high schools. The objective of financial literacy programs is to help students better manage their finances, budget effectively, and borrow wisely.
Smart financial management includes a few basic good habits. You probably already have a checking account, a credit card or two, maybe even a car loan, and now you have a student loan. But have you determined your financial goals and established good financial habits?
Here are a few tips to get you started.
Make a budget
- Prepare a budget and follow it.
- Balance your checkbook.
- Save!
Go easy on the credit cards
It is wise to have a credit card in case of an emergency, but not for simple expenses such as daily cappuccino.
- Use credit cards with restraint.
- Remember that ?wants? are NOT the same thing as ?needs.? Before charging a new pair of earrings or new curtains, ask yourself if you really NEED that item.
- Do the Smart Thing when it comes to spending your money.
Know your credit history
It is smart to review your credit report annually for errors. If your credit has already become a concern, review your credit report and begin to clean it up. You may request your credit report from:
