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identify needsFinancial Literacy
Financial Literacy+context
see also:
Financial literacy is the ability to understand finance. More specifically, it refers to an individual's ability to make informed judgements and effective decisions about the use and management of their money.
+resources and best practices
Financial Literacy+background
Personal finance
Questions in personal finance revolve around
- How much money will be needed by an individual (or by a family), and when?
- Where will this money come from, and how?
- How can people protect themselves against unforeseen personal events, as well as those in the external economy?
- How can family assets best be transferred across generations (bequests and inheritance)?
- How does tax policy (tax subsidies or penalties) affect personal financial decisions?
- How does credit affect an individual's financial standing?
- How can one plan for a secure financial future in an environment of economic instability?
Personal financial decisions may involve paying for education, financing durable goods such as real estate and cars, buying insurance, e.g. health and property insurance, investing and saving for retirement.
Personal financial decisions may also involve paying for a loan, or debt obligations.
Financial Literacy+definitions
Finance is the science of funds management.[1] The general areas of finance are business finance, personal finance, and public finance.[2] Finance includes saving money and often includes lending money. The field of finance deals with the concepts of time, money and risk and how they are interrelated. It also deals with how money is spent and budgeted. http://en.wikipedia.org/wiki/Finance
Financial Literacy+where to start
Financial Literacy+best practices
”Taking Ownership of the Future: The National Strategy for Financial Literacy”
US Financial Literacy and Education Commission, 2006
(PDF) http://www.mymoney.gov/pdfs/ownership.pdf
Financial Literacy+lessons learned
Wharton Finance Knowledge Project
aimed to offer free access to finance knowledge for students, teachers, and self-learners
Financial Literacy+standards in field
Financial Literacy & Education Commission Member Agencies
- Board of Governors of the Federal Reserve System
- Commodity Futures Trading Commission
- Federal Deposit Insurance Corporation
- Federal Trade Commission
- National Credit Union Administration
- Office of the Comptroller of the Currency
- Office of Thrift Supervision
- Small Business Administration
- Social Security Administration
- U.S. Department of Agriculture
- U.S. Department of Defense
- U.S. Department of Education
- U.S. General Services Administration
- U.S. Department of Health and Human Services
- U.S. Department of Housing and Urban Development
- U.S. Department of Labor
- U.S. Office of Personnel Management
- U.S. Department of the Treasury
- U.S. Department of Veterans Affairs
- U.S. Securities and Exchange Commission
Student Money Management Services
Bowling Green State University
