What is financial literacy?

Financial literacy may be defined as:

1) The ability to read, analyze, manage and communicate about the personal financial conditions affecting material well being.

2) The 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. If you are a student, you may already have a checking account, a credit card, or maybe even a car loan. When heading off to college, you may also need to borrow student loans to help finance your education. But have you determined your financial goals and established good financial habits? Here are a few tips to get you started.

Check out the MDHE's financial literacy videos

April is Financial Literacy Month, a good time to check out these videos and resources compiled by the MDHE. Also consider "liking" Journey to College on Facebook, specifically designed for high school and college students to help find the best ways to pay for a postsecondary education and more.

Create and Follow a Spending and Savings Plan

Avoid Credit Cards

Protect Yourself Financially

Debt Management

Get Out of Debt

Read and Use Important MDHE Publications

The MDHE offers a variety of FREE publications to help students develop a financial plan, make wise spending choices and minimize student loan debt.

If you are a high school personal finance teacher, you may wish to order materials from our Smart About Spending line, which are specifically designed to meet all four compentency areas required for the 0.5 credit personal finance course in Missouri.

For high school students nearing graduation or first-time incoming freshmen, the Planning for Financial Success piece is ideal. Visit the MDHE's publications page to see electronic versions of these materials and to order items.