Financial Literacy
Students must understand the importance of managing their finances effectively in today’s fast-paced world. Learning to make smart financial decisions now sets the foundation for a secure future and helps students navigate everyday financial challenges. This course has been designed to give students the knowledge and skills to manage their money wisely now and in the years ahead.
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Learning Objectives
- Discuss checking and saving accounts
- Identify key factors related to building credit and earning a credit score
- Describe budgeting and how to create a budget
- Determine short- medium- and long-term financial goals
- Recognize whether your spending aligns with your goals
- Identify types of interest and make basic interest calculations
- Explain how simple and compound interest can work for and against you
- Apply budget and interest knowledge to real-world situations
- Consider options and implications beyond purchase price for making a large purchase
Specs
| Intended Audience | Higher Education Faculty and Staff |
| Languages | English (US), Spanish (US), Spanish (European), Spanish (Mexican), French (Canada), French (European), Arabic, Chinese (Simplified Mandarin), Chinese (Traditional Mandarin), Filipino Tagalog, German, Hindi, Italian, Japanese, Korean, Portuguese (Brazilian), Portuguese (European), Russian, Thai, Vietnamese |
| Accessibility | Audio, Video, Interactive Transcript, Closed Captions |
| Course Features | Interactive Modules, Knowledge-Checks, Assessment |
Key Questions
Financial literacy is understanding basic financial concepts, such as budgeting, saving, investing, and managing debt. It empowers individuals to make informed financial decisions and manage their money wisely.
What are the key components of financial literacy?Key components of financial literacy include budgeting, understanding credit and credit scores, managing debt, saving and investing, and planning for future financial goals.
Why is financial literacy important?Financial literacy is crucial because it helps individuals make smarter financial decisions, avoid debt, save for the future, and achieve financial goals. It also promotes long-term financial stability and security.
How do I create a budget?Learn how to track your income, categorize your expenses, and set limits to ensure you spend less than you earn and save for future goals.
Sample Video Transcript
By the end of this course, you’ll be able to identify strategies to make smarter spending decisions, discuss checking and saving accounts, identify key factors related to building credit and earning a credit score, describe your budget, determine short, medium, and long-term financial goals, recognize whether your spending aligns with your goals, identify types of interest, and make basic interest calculations. Explain how simple and compound interest can work for and against you and explain the future value of money. Apply budget and interest knowledge to real-world situations and consider options and implications beyond purchase price for a large purchase.
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