April is Financial Literacy Month!

In the midst of the current financial crisis, President Obama has stressed that the need for a strong understanding of finance is more important than ever. However, despite the need for more education on finances, "Today, less than half of states require high school students to take an economics class and fewer states require high schools to offer financial literacy classes than in 2009" (Berlin). In a time when we need to further our understanding of the complicated world of money and finances, Americans seem to be cutting back on financial literacy education efforts.

For this reason, last year President Obama decreed that every April is Financial Literacy Month!

What is Financial Literacy Month, you ask?

Financial Literacy Month is an effort to highlight the importance of financial literacy and teach Americans how to establish and maintain healthy financial habits. Essentially, Financial Literacy Month is a time when you are encouraged to improve your understanding of your personal finances. Many companies will be promoting this month by advertising tips and advice on how to be more financially literate and responsible!

What should you do for Financial Literacy Month, you ask?

For FTC (Federal Trade Commission) approved guidelines on how to become more financially literate, check out Money Matters. "Money Matters offers short, practical tips, videos, and links to reliable sources on a variety of topics in English and Spanish, ranging from credit repair, debt collection, job hunting, and job scams to vehicle repossession, managing mortgage payments, and avoiding foreclosure rescue scams" (FTC).

Your first mission, should you choose to accept it, is...

All of you students who are applying for financial aid for the 2012-2013 school year should use this process as an opportunity to familiarize yourselves with all of the documents our office if requesting! You know that you need to submit a 2011 Tax Return... but do you know what the form is or why you and/or your parents file it? Becoming financially literate can start with something as simple as learning about the documents you are submitting and the financial aid program at Brandeis. You have your mission! Now get going!

This month all of the Savvy Student blogs will aim to help YOU become more financially literate!

What do YOU think Savvy Student should write about for Financial Literacy Month?

Comment below with your thoughts!