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Financial Literacy: Home

Want to learn new ways to save money and budget? You've come to the right place!

Important Notice

Old Westbury Library offers a number of excellent resources with reference librarians to assist you.  Please be aware that librarians do not offer financial or legal advice.  If you need help with a money decision, we strongly recommend that you contact a qualified financial professional.

FLOW (Financial Literacy at Old Westbury)

What is Financial Literacy?

 

What is Financial Literacy?

The President's Advisory Council on Financial Literacy defines personal financial literacy as "the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being." (2008 Annual Report to the President)

Personal financial literacy is more than just being able to balance a checkbook, compare prices or get a job. It also includes skills like long-term vision and planning for the future, and the discipline to use those skills every day.

In the US, we make great efforts to teach children to read and write, but we don't give their financial literacy the same attention. As a result, few young people know how to to manage their personal financial lives. Your Life, Your Money tries to change that by telling dynamic, culturally aware (and true) stories of young adults in financial trouble. As their stories unfold, viewers learn how and why they ended up in trouble and how they got out.

These compelling and relevant stories help viewers understand the issues. They also show viewers how to improve their own financial literacy. Bolstered by the wisdom and experience of experts, these young people take control of their lives, providing powerful examples of what it means to "manage your money and not be managed by your money."

Source: PBS Your Life, Your Money

Image courtesy of MorgueFile

Business Librarian

Antonia DiGregorio's picture
Antonia DiGregorio
Contact:
Library Campus Center
RM L223
digregorioa@oldwestbury.edu
(516)876-3156
Website

Data on Financial Literacy in the US

Want to know how many Americans spend more money than they make?  Survey data on this measure and others is available through the Financial Capability Study.

SUNY Old Westbury Library, Old Westbury, NY 11658
(516) 876-3150