What is Financial Literacy?
Financial Literacy is the ability of the citizenry to be informed consumers, businesses, and organizations who contribute to the economic prosperity of the community. Financially literate people make educated financial decisions, become entrepreneurs, and/or lead and participate in businesses within the community.
Why does Financial Literacy Matter? (statistics taken from www.paforward.org)
- Forty-one percent of U.S. adults give themselves a grade of C, D, or F on their knowledge of personal finance.
- One in four adults does not pay bills on time. One in three has no savings and does not save any portion of household income for retirement.
- Thousands of Pennsylvanians contact the Attorney General’s office each year about credit card charges, finance scams, and misleading solicitations.
How does the Library support Financial Literacy?
- Annual tax forms available for free
- Finance themed storytimes to introduce financial concepts to young readers
- Partnerships with community agencies to provided financial literacy workshops
- Public computers for connecting to career and financial information online
- And more!
Money Smart Week @ Paul Smith Library
Money Smart Week began in Chicago in April 2002 as a way for financial organizations to inform the public about financial resources available within the community. Since that time it has become a national effort to educate Americans about financial literacy. For more information please visit moneysmartweek.org. Check out our financial literacy display in the library this week. Also, we will have a representative from Citizens Bank here on Tuesday and Wednesday (April 24 and 25) between 4:00 and 6:00 PM. She will be providing free information about finances related to college planning and buying your first home. Stop in and ask her questions!