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Financial Literacy

Financial literacy may be defined as the possession of money management education. To become financially literate, a person must have access to information that enhances his/her knowledge base. This page provides resources for those who are interested in increasing awareness of positive money management skills.

Money Management

Good money management is not just about balancing a budget. It is about deciding on realistic financial goals (short-, mid-, and long-term), researching and planning ways to achieve those goals, and implementing and maintaining the plans for success!

The information below contains tools, calculators, and resources aimed at assisting students with good money management. The CashCourse.org page requires a user login to access the information.

Developing Realistic Financial Goals

• Determining if a financial expense is a need or a want can help put goal setting into perspective. Take a look at this for information about needs vs. wants. (CashCourse)
• Record your goals, including the amount needed and a realistic timeframe for achieving each one. You may find this worksheet helpful. (ECMC)

Creating Plans to Meet Your Financial Goals

• Always look for ways to learn more about good money management habits. Being financially savvy is always chic!
  • Money 101 (CashCourse)
• Need to pay off your credit cards? Calculate just long it will take. (Bankrate)
• See these tips for getting yourself out of credit card debt. (CashCourse)
• See how your potential move for college can adjust your costs of living. (Bankrate)
• Calculate your potential loan repayment. (Bankrate)

Starting and Maintaining Your Plans

• Let your friends and family know that you are committed to starting a successful path toward meeting your financial goals. The support of those closest to you will prove helpful if you fall off track!
• After graduation financial struggles may amplify while you look for a job, but with the right tools and a positive attitude, your goals are achievable. Working and earning money is important, and understanding how employment benefits can work with and/or against you is essential. (CashCourse)
• Keeping financial paperwork can be overwhelming and downright confusing at times. Who knows what you are supposed to keep and for how long? (CashCourse)

What happens when things don’t go according to plan?

• Identity theft (FTC)
• Lost/stolen ID card (USA.org)
• Lost/stolen credit cards or fraud (FTC)
• Handling debt collectors (CashCourse)
• Losing your job is stressful enough!
  • Unemployment 101 (CashCourse)
  • Freelancing? Independent contract work? (CashCourse)
  • Using your retirement account? (CashCourse)

For additional information, please contact the Financial Aid Office.

Contact Information:
JoAnne Hansana, Financial Aid Manager
jhansana@cnsu.edu
916-686-8784