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Financial Literacy: Home

A guide designed with UCNJ students in mind; personal finance, investing, paying for college, and making wise financial decisions.

Five Key Components of Financial Literacy

  1. EARN - Make the most of what you earn by understanding your pay and benefits.
  2. SAVE & INVEST - It’s never too early to start saving for future goals such as a house or retirement, even by saving small amounts.
  3. PROTECT - Taking precautions about your financial situation, accumulate emergency savings, and have the right insurance.
  4. SPEND - Be sure you are getting a good value, especially with big purchases, by shopping around and comparing prices and products.
  5. BORROW - Borrowing money can enable some essential purchases and builds credit, but interest costs can be expenses. And, if you borrow too much, you will have a large debt to be repaid.

Source: - My Money Five 

What is Financial Literacy?

Financial literacy is the knowledge and skills needed to make financial decisions and manage finances. These skills include personal finance management, budgeting, saving, and investing. As a student, it is important to utilize these various skills to help prepare for current and future decisions.

Source: Investopedia - Guide to Financial Literacy

Get started learning the basics of financial literacy:

When Am I Ever Going to Use This?

Why Financial Literacy?

Financial literacy is more than Wall Street and investing - it is the foundation of making wise personal and career choices. This guide will point you towards UCNJ Libraries' catalog holdings about financial literacy, as well as useful websites, blogs, podcasts, and money management tools.

US Financial Literacy Facts

  • 25% of Americans say they don't have anyone they can ask for trusted financial guidance.
  • In 2021, Americans reported losing an average of $1,389 because of a lack of personal finance knowledge.
  • 60% of non-retirees didn't think their retirement savings were on track in 2021.
  • In 2021, 34% of U.S. adults reported that "just getting by financially" describes them completely or very well.

Turner, T. (2023). 47+ Fascinating Financial Literacy Statistics in 2022. Retrieved January 12, 2023, from

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