Financial literacy is important for students

About Financial Literacy: In order for financial literacy, you need to know how to deal with credit. You should be aware about the process of saving money, and you should know how to budget their finances. You need to have a plan for how their money is being spent.

Why It is important:

• Money is the number one cause of divorce in the United States.
• Money is one of the main reasons people commit suicide.
• Approximately 75% of Americans live financially month to month.
• Less than 10% of high school graduates receive any financial education in school. 
• According to Nellie Mae, the average debt was $ 18,900 in 2002, compared with $ 11,400 in 1997.
• College students average credit card debt increased 46% between 1998 and 2000 to $ 2,748, almost 10% of students owe more than $ 7,000.
• One of the online employment services college students surveyed in 2003 and found that 61% of them said they planned to live with their parents after graduation.
• There seems to be a direct correlation between the scores of high school students on tests of financial literacy and the number of bankruptcies in the states where they live.
• There is no guarantee that social security will be around when the students will reach retirement age.
• College students are graduating with increasing credit card debt along with their diplomas. Four in ten college students will face unmanageable debt, and to finish college and enter the job market.

Ways To Get Started In Becoming Financially Literate:

• Read: Find information in books, magazines and newspapers. Become an expert in the world of finance.
• Be willing to make changes: You must be flexible. You can not expect to spend money frivolously.
• Be patient: You can become financially literate overnight. It takes time to get a grip on your finances.
• Take a class: There are classes of investments and financial planning offered. Check with your community to see what financial education classes you can take.
• Get advice from other people: If you know someone who seems very literate financial, seek their advice.
• Get help online: There are many online forums where you can discuss financial decisions.
• Quit making excuses: Do not complain about not having enough money. In order to manage your money effectively, you must change your attitude and be positive.

All plans of study the wealth of creativity focus on basic principles of money, cash flow, financial vocabulary, financial statements and capital investments and important concept that beliefs and attitudes that develop early in life on Money has a powerful effect on our financial future. We also emphasize the idea that money does not buy happiness, it is only a tool to use to achieve economic independence