There are many definitions of personal financial literacy. The one used by the President’s Advisory Council on Financial Literacy (2008) states that financial literacy is “the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being.”
While reading and writing are taken for granted as part of a complete education, personal financial literacy has sometimes been neglected. As a result, there is a critical need for young people to acquire the skills and competencies they need to be successful in managing their personal financial lives, present and future.
Your Life, Your Money is an attempt to meet that need through dynamic, culturally aware stories of real young people in a variety of circumstances. As their stories unfold, the viewer learns how and why these young adults faced financial literacy challenges and what they did to overcome them. The characters, concepts, and activities found within the program and companion resources make a complete learning package for those wanting to enhance their financial literacy.
Compelling and relevant, the stories not only guide the viewer to a deeper understanding of the issues, but also include immediate, positive actions that young people can take to improve their own financial literacy skills. Bolstered by the wisdom and experience of experts in the field, the people featured take control of their lives and provide powerful examples of what it means to “manage your money and not be managed by your money.”