Financial literacy is the foundation of your plan to graduate debt-free. It is imperative to educate oneself before committing to a financial agreement that impacts a major part of your life.
Learning about systems like credit and taxes is so much more essential than the Pythagorean Theorem (sorry not sorry). Whatever material success looks like to you, understanding how credit works can save you future headaches and a couple of dollars.
By the numbers:
- Three in five American adults don’t keep a budget
- Four of five adults say they were never given the opportunity to learn about personal finance.
- Only a third of states require high school students to take a course in personal finance, according to the Council for Economic Education.
- Young adults who receive financial education are less likely to carry credit card debt, and more likely to apply to and receive grants and financial aid.
Some may argue that certain life skills are taught at home, well in the case of student loans the financial burden of misinformed decisions runs across generations. Your financial identity will determine the quality of your life and ability to reach your goals. Learning healthy habits now is a lot easier than forcing yourself to unlearn bad ones later due to your circumstances!
Having a plan to graduate debt-free goes hand in hand with financial literacy. Don’t forget to check out the Glossary Tab to begin your journey to living abundantly. The Scholars Toolkit is committed to reimagining the standard and overhauling old systems and teaching that isn’t beneficial to today’s students. Living a life of choice versus settling for circumstance is determined by the steps we take today!
Student loans will not damper or delay your major milestones or success. Check out Financial 411 Academy to kickstart your wealth-building journey.
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