Please use the Financial Literacy Worksheet to share comments, ideas, and/or suggest resources.
Components
- Investing
- Saving
- Budgeting and Managing day-to-day expenses and bills
- Economic systems and how they work
- Taxes
- Covidnomics
Articles
- “Why financial literacy is important in today’s world” by CNBC
This article explains the importance of financial literacy in modern times and how it can benefit individuals and society. - “How to Teach Kids About Money and Financial Literacy” by Forbes
This article provides tips for teaching children about money and financial literacy. - “5 Simple Steps to Improve Your Financial Literacy” by Kiplinger
This article offers five simple steps to improve your financial literacy and make better financial decisions. - “Financial Literacy: What It Is and Why It Matters” by The Balance
This article defines financial literacy and explains why it is important for individuals and communities. - “The Importance of Financial Literacy in the Digital Age” by The New York Times
This article explores the role of financial literacy in the digital age and how technology is changing the way we manage our finances. - Covidnomics: Millennials Taking Brunt of Coronavirus Slump – An overview of how the pandemic affected the financial situation of young adults.
- Role of financial literacy in achieving financial inclusion: A review – This article discusses how financial inclusion can be achieved through financially literate people who can make informed financial decisions and improve individuals’ well-being
- Financial literacy and responsible finance in the FinTech era – This article examines how FinTech is changing the way people manage their finances and how financial literacy can help people make better decisions
- Financial literacy: A systematic review and bibliometric analysis – This article provides a systematic review and bibliometric analysis of research on financial literacy
- How the 70/20/10 Budget Rule Works – This article explains how the 70/20/10 budget rule works and how it can help you keep your spending and savings organized so you can achieve your financial goals
- Financial Literacy – This article from Harvard University provides tips on how to save money while in college
Videos
- “Investing 101: Financial Education for Beginners” – Khan Academy
This video provides a beginner’s guide to investing and financial literacy. - “The Importance of Financial Literacy” – TEDx Talks
In this TEDx Talk, the speaker discusses the importance of financial literacy and why it should be a priority for individuals and communities. - “What Is Financial Literacy?” – Wall Street Journal
This video provides a simple and clear explanation of what financial literacy is and why it matters. - “How to Read a Financial Statement” – Harvard Business Review
This video explains how to read and interpret financial statements, an essential skill for financial literacy. - “Why Financial Literacy Is Important” – Investopedia
This video discusses the importance of financial literacy and why it is essential for achieving financial wellness.
Discussion Questions
- How would you rate your financial literacy?
- How much did your parents share finance-related information with you? (e.g. their salary, budget issues, and expenses).
- What are some common financial literacy skills, and how can we develop these skills?
- Who do you know that is especially good or bad at managing their money?
- What three things do you spend the most money on?
- How do you feel about borrowing or lending money? How often do you do either?
- Do you ever gamble? Have you ever won or lost a lot of money?
- What are some of the biggest financial challenges facing individuals and society today, and how can financial literacy help address these challenges?
- How important are financial considerations in choosing a partner/deciding to get married?
- Do you have any marriage-related savings plans?
- How can we teach financial literacy to children and young adults, and what are some effective strategies for doing so?
- What are some common misconceptions about personal finance?
- How can you improve your financial literacy?
- What are some common mistakes people make when managing their finances?
- How can you create a budget that works for you?
- What are some strategies for saving money?
- How can you avoid debt?
- What are some ways to invest your money?
- How can you plan for retirement?
