Financial Literacy

The President's Advisory Council defines personal financial literacy as "the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being" (2008 Annual Report to the President).

In other words, you should not only understand budgeting, but be able to make informed decisions about credit and debit card usage, checking accounts, student loans, and know how to request and review your credit report, for starters.

Use this guide to locate the resources that will empower you to make appropriate financial choices. Please note: this guide does not provide financial advice, nor will the librarians!

Money Crashers - 8 Financial Tips for College Student to Save and Manage Money Better 

• Create a Budget- know where your money is coming from (and when) and know when and how you are spending it
• Consider an online service to help make money management easier and portable
• Minimize student debt
  • ​spend wisely on non-school items (clothes, food, entertainment)​
  • borrow only what is required
  • Fund extras with a job
  • if it's manageable, start paying off student loans early
• Look for student discounts
  • Ask vendors near campus what student discounts may be available
• Research the best credit card offers before applying and use them wisely
• Set spending limits
• Avoid paying full price for textbooks - buy used, rent, or consider e-book options when available
• Protect personal information
  • Don't give out passwords, social security or account numbers
  • Check banking and credit accounts regularly for unauthorized use and report suspicious activity immediately
• ​Request a free credit report annually