April is Financial Literacy Month!

In honor of Financial Literacy Month, the Missouri Department of Higher Education is planning to release one financial tip each week in April via the Financial Literacy Web page. The April 1 tip highlights two effective budgeting resources designed to stretch your hard-earned dollars further throughout the year. Up first, the MDHE’s “Planning for Financial Success” calendar was created specifically with college students in mind. This resource outlines several important factors for creating and using a budget, which can be found on Page 36. Key budgeting factors identified in this resource include:

    • Know how much money you have coming in
    • Know how much money you have going out
    • Establish a budget that works for you
    • Be realistic. Keep it simple. Give it time.

You can order the "Planning for Financial Success" calendar free of charge by visiting the MDHE's online order form.

For those looking for a more methodical approach to budgeting, the MDHE has located a YouTube vide on how to track spending using the envelope budget tracking system. For more information regarding various applications for this system, view the Easy Envelope Budget Aid Web page at https://www.eebacanhelp.com/login.php.

The April 8 tip features trivia games that are geared towards helping students learn important terms and concepts about financial literacy and managing student loans. The following games provide an interactive and challenging method to sharpen money management skills at any level.

The April 15 financial literacy spotlight shines on the Missouri Personal Finance Challenge. This annual event gives students an opportunity to demonstrate their knowledge of personal finance by competing with other students across the state in multiple-choice and "Quiz Bowl" examinations.

The state finals for the high school level of the Missouri Personal Finance Challenge will take place at the Capitol in Jefferson City on Friday, April 19. The top two teams from each region will participate. Teams who qualified for the state finals were required complete online exams in the following personal finance subject areas:

    • Earning Income & Protecting and Insuring
    • Using Credit & Buying Goods and Services
    • Saving & Financial Investing

The teams will participate in three rounds of multiple choice testing with a final quiz bowl between the two top scoring teams. The first place winners will receive $250 per student on team and teacher. Second place winners will receive $100 per student on team and teacher.

The first place winners will go on to represent the state of Missouri at the National Personal Finance Challenge, which is scheduled for May 2, 2013 in St. Louis.

Check out the photo below from the 2012 National Personal Finance Challenge.

2012 National Personal Finance Challenge Participants

2012 Financial Literacy Month Webcasts