Financial literacy refers to the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources. It is the ability to understand the pros and cons of a money decision, weigh the costs, and confidently decide what to do. It equips you to seek out the answers you need in order to make a good financial decision.
A financially literate person also understands how common personal finance products work, like checking accounts and credit cards, as well as how costs like interest and fees are calculated. Some of the core concepts of personal finance include understanding how credit works, how to budget, and how to invest.
Financial literacy knowledge lays a foundation for students to build strong money habits early on and avoid many of the mistakes that lead to lifelong money struggles.
As a nation, we’ve seen where a lack of personal finance education can lead. Millions of Americans struggle every day with their money, living paycheck to paycheck and relying on credit cards for necessities, only to wind up deep in debt. Many Americans are finding that they can’t buy homes, invest for retirement, or save for their child’s college fund because of their own student loan debt, massive car payments, and general lack of financial planning.
Through financial games, BrainPOPs, application, discussions, and projects, this class will focus on: budgeting, banking, interest, debt, credit cards, loans, investing, mortgages, supply & demand, recession, & owning a business.