Whether you're funding your college education, planning for a family or planning your retirement, becoming financially literate is essential to making informed decisions that will help protect your assets and your economic future. The goal of this site is to empower you with the basic information and
tools you'll need to help better manage your money and financial
opportunities. The following topics are covered:
- Creating a budget to take control of your finances
- Becoming a responsible borrower
- Repaying your student loan
- Protecting your personal information from theft and fraud
- Understanding student loan debt
What is Financial Literacy?
The Government Accountability Office describes financial literacy as: the ability to make informed judgments and to take effective actions regarding current and future use and management of money.
Financial literacy encompasses both financial education and consumers’ behavior as it relates to their ability to make informed judgments. Financial education refers to the processes whereby individuals improve their knowledge and understanding of financial products, services, and concepts. However, being financially literate refers to more than simply being knowledgeable about financial matters—it also entails using that knowledge to make effective decisions, avoid pitfalls, and take other actions to improve one’s present and long-term financial well-being.