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 may also 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.
Create and Follow a Spending and Savings Plan
- Four easy steps for creating and following a spending and savings plan
Avoid Credit Cards
- Learn how expensive credit can be and how to avoid using it
Protect Yourself Financially
- Follow these three tips to avoid disaster
Debt Management
- Learn how much you can afford to borrow
Get Out of Debt
- Use this simple but effective method for paying down your debts quickly
Read and Use Important MDHE Publications
- Planning for Financial Success - A handy calendar for students heading off to college, complete with financial literacy and money management tips. This piece is ideal for high school seniors and entering postsecondary freshmen.
- Smart About Spending personal finance materials - An expandable, tabbed portfolio equipped with color-coded stair-stepped tabs, which include loose-leaf sheets covering all four DESE compentency areas. This piece is designed for high school students enrolled in the 0.5 credit personal finance course.
Remember: Live like a student while you are a student so you don't have to later!

