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Thunder Questions

#MindYourMoney: April is Financial Literacy Month

Apr 1, 2015
  • How financially literate are you?
  • How do you acquire the knowledge, skills and attitudes necessary to make sound financial decisions? 
  • How do you learn financial behaviors – and from whom?
These days, financial literacy is more important than ever. 

According to Alan Greenspan, former Chair of the U.S. Federal Reserve, “The number one problem in today’s generation and economy is the lack of financial literacy. In 2004, the U.S. Senate designated April as National Financial Literacy Month to raise public awareness about the importance of financial literacy.

What is financial literacy?

According to “Personal Finance and the Rush to Competence: Financial Literacy in the United States,” prepared for the Institute for Socio-Financial Studies in 2000, “Financial literacy is the ability to read, analyze, manage and communicate about the personal financial conditions affecting material well-being.

It includes the ability to discern financial choices, discuss money and financial issues without (or despite) discomfort, plan for the future, and respond competently to life events that affect every day financial decisions…”

College students can be vulnerable. The decisions they make now can affect their academic performance, their mental health and their financial futures.

To help raise awareness of financial literacy, ODU’s Financial Aid Office will post articles with information and advice on ODU’s website and social media channels, host a student lunch, and offer in-person exit counseling for graduating student loan borrowers.

Test your knowledge and learn more about financial literacy at ohiodominican.gradready.com.

ODU’s Financial Aid Office is committed to serving students and address their questions or concerns about their college finances.

Students are welcome to visit the Finacial Aid office, which is located in Erskine Hall, room 147. They may also call (614) 251-4778 or email finaid@ohiodominican.edu.