The resources under the "Financial Literacy Resources" tab are a must-see! Links to expert financial information, interactive tools and courses to build financial literacy knowledge and skills are provided. Resources are arranged in categores by Student/Consumer, Educators, Government Entities, and Research.
Recommendation: Select the Financial Literacy Videos tab in this guide to learn about the Films on Demand database and to view videos on the importance of financial literacy.
The National Financial Educators Council defines financial literacy as: “possessing the skills and knowledge on financial matters to confidently take effective action that best fulfills an individual's personal, family and global community goals.” Several other national organizations have created their own definition.
Although each financial literacy definition is varied, most have similar components. Each of the financial literacy definitions listed refer to the importance of having the skill sets and knowledge to make informed decisions. In addition, each refer to The National Financial Educators Councils financial literacy definition also adds in a psychological component. The NFECs’ team of Certified Financial Education Instructors (CFEIs) and Certified Financial Education Professionals (CFEPs), that have personally reviewed the complete financial statements of over 10,000 people nationwide, feel this is a critical component. A NFEC spokes person states “A lot of people know what they should do; however a good majority freeze up when it comes time to make a financial decision. Most have the knowledge but lack the confidence to make the right decision and take action in a decisive manner. Since money is directly tied to peoples emotional state we feel including this component in our financial literacy definition is critical.”
This research guide provides resources to build your financial literacy knowledge, skills and decision-making confidence. Links to the organizations mentioned can be found under the "Financial Literacy Resources" tab.
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