Financial Literacy

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Money: We use it so often that sometimes we forget to step back and think about how powerful it is. From a toll booth on a highway to a mortgage to buy a home, every monetary transaction is affected by a person's ability to understand money.

Financial literacy, simply defined, is the ability to understand how money works in the world - including earning, saving, and investing money on a personal level and basic financial concepts on an institutional level.

In 2003, the US Congress passed the Fair and Accurate Credit Transactions Act, which established the Federal Financial Literacy and Education Commission and the website www.mymoney.gov. This is a great place to start to learn the basic concepts of financial literacy.

Unit 2 - Financial Literacy OverviewPDF

Unit 2 - Financial Literacy PowerPoint SlidesPDF

Documents/Readings

Websites/Links

Video Clips

Suggested/Selected Resources: Books & Films

  • Personal Financial Literacy (Joan Ryan)
  • Personal Financial Literacy (Jeff Madura, Mike Casey, Sherry Roberts)
  • Understanding the Mathematics of Personal Finance: An Introduction to Financial Literacy ( Lawrence Dworsky)
  • Little Kids Big Money: Tools for Teaching Kid Friendly Finance (Andrea Travillian)
  • Saving and Investing: Financial Knowledge and Financial Literacy Everyone Needs and Deserves to Have! (Michael Fischer)
  • Personal Finance for Dummies (Eric Tyson)
  • The Student’s Guide to Financial Literacy (Robert Lawless)
  • Unfair Advantage: The Power of Financial Education (Robert Kiyosaki)
  • Becoming Financially Literate: The Basics You Never Learned in High School (Eric Weiss)
  • Financial Literacy for Teens (Chad Foster)
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