by AJ Delgado
Last Updated May 26, 2022
215 views this year
Financial Literacy and Financial Wellness
How can this Guide help you?
The resources on this page will help you understand more about financial aid options and the many aspects that make up the concept of money management. Following the advice and utilizing the services and resources will help you improve your financial literacy and your financial wellness.
What is Financial Literacy?
There are many definitions out there. They all focus on these basic topics:
You have the ability to manage your personal finances effectively;
You are able to make good monetary choices;
You monitor and track personal spending habits, and
You are a lifelong learner related to financial topics such as savings, investing, budgeting for long-range goals(such as paying for College or buying a house), budgeting and planning for retirement.
What is Financial Wellness?
Again, there are many definitions. However each revolve around these topics:
Spend within your means;
Prepare financially for emergencies;
Make financial decision based on valid and reliable information;
Seek help from professional when financial questions arise, and
Have financial plans for short-term goals and long-term goals.
Source: Empower Yourself: Skills for College, Career, and Life. 2nd Edition. Krissy Leonard. p. 296-297.
Watch this video. It may be the most helpful 18 minutes you spend on yourself!