What Is Financial Literacy, and Why is it important?
Financial literacy is the ability to understand the basics of finance. More specifically, financial literacy is the skillset necessary to make informed, effective decisions about personal finance, debt, and saving.
Students beginning their college life are often dealing with issues of credit, their credit history, and debt for the first time. Mishandling personal finances at this early stage of life can result in early damage to a student’s credit rating, the consequences of which can last for years.
As part of our mission to prepare students for financial success, SFA presents a series of workshops throughout the year highlighting best practices in the area of personal finance. Keep an eye on our Newsletter (published each semester), our News feed, our Twitter feed, or our Facebook page for dates and times.
Student are, statistically speaking, relatively frequent users of credit cards, and as a result, are at a higher risk of identity theft and credit card fraud. Approximately 31% of identity theft victims are between the ages of 18 and 29. Our Identity Theft Prevention page has more information about identity theft and how to prevent it.
SFA presents a library of useful financial literacy tools here, including financial calculators, checklists, and worksheets.
Additional information on Debt Management is available here.
Tips on receiving financial aid funds, credit management and budgeting your money is available here.
Through a partnership with CashCourse, an independent, nonprofit foundation, SFA strives to educate students on a broad range of financial topics while empowering them to make positive and sound decisions to reach their financial goals. Please explore CashCourse. Registration, which is free, is required.