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Welcome to the Masland Library guide to Financial Literacy
Every citizen should have a basic understanding of their finances. Informed consumers understand how their financial choices affect their long-term goals.
This guide has been created to help students choose resources that will give them a better idea of how their current choices can influence their future plans.
What is Financial Literacy?
Financial literacy is having the knowledge and skills to manage financial resources effectively for financial well-being. The knowledge ranges from understanding how the American economy works to understanding the items on financial statements. The skills include reconciling a bank statement and following a stock’s performance (Hagler, 2025).
Foundational Concepts
| Topic | Keywords |
|---|---|
| Personal Finance | → (personal finance OR money management OR financial planning) AND (budgeting OR saving OR investing OR debt management) |
| → (personal finance OR money management) AND (budgeting OR cash flow OR financial planning) | |
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→ (emergency fund OR savings strategy) AND (financial planning OR personal finance) AND (short-term savings OR long-term savings OR high yield savings account) → (emergency fund OR emergency savings OR emergency money) AND (financial planning OR personal finance OR money management) → (short term savings OR short-term financial goals) AND (long term savings OR long-term financial goals) AND (personal finance OR financial planning) → high yield savings account OR high interest savings account) AND (bank OR financial institution OR online bank) |
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→ (banking OR bank) AND (basics OR fundamentals OR introduction OR beginner guide) → (bank account OR banking account OR financial account) AND (types OR categories OR varieties) → (overdraft OR "bank overdraft") AND (policy OR policies OR rules OR guidelines) → (interest rates OR lending rates OR borrowing rates) AND (economic impact OR financial policy OR monetary policy) |
Credit & Debt
| Topic | Keywords |
|---|---|
| → (credit score OR credit rating) AND (report OR financial history) AND (personal finance OR consumer credit) | |
| Loans & Interest | → (loans OR lending OR borrowing) AND (interest OR interest rates OR finance) |
| Student Loans | → (student loans OR college debt OR education financing) AND (repayment OR forgiveness OR assistance) |
| Debt Management | → (debt management OR debt reduction OR debt consolidation) AND (financial planning OR financial strategy OR money management) |
Spending & Consumer Awareness
| Topic | Keywords |
|---|---|
| Smart Shopping Strategies | → (smart shopping OR budget shopping OR cost-effective shopping) AND (strategies OR tips OR techniques OR advice) |
| Scams & Fraud | → (scam OR fraud OR deception OR swindle) AND (prevention OR awareness OR protection) |
| Cost of Living Awareness | → (cost of living OR living expenses OR economic burden) AND (awareness OR understanding OR education) |
Employment & Invome
| Topic | Keywords |
|---|---|
|
→ (paycheck OR salary OR wages OR compensation) AND (employment OR work OR job) → (income tax OR property tax OR sales tax OR tax law OR tax policy) AND (finance OR economics OR government) → (tax deduction OR tax write-off OR tax credit) AND (income tax OR federal tax OR state tax) → (employee benefits OR workplace benefits) AND (salary OR paycheck OR compensation) |
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| Benefits & Compensation | → (benefits OR compensation) AND (employment OR workplace OR salary OR remuneration) |
Planning for the Future
|
Topic |
Keywords |
|---|---|
|
→ (investing OR investment) AND (foundations OR basics OR fundamentals OR principles) → (stocks OR equities OR securities) AND (bonds OR fixed income OR debt instruments) → (risk OR investment risk) AND (return OR investment return OR financial performance) AND (finance OR investing OR financial analysis → (compound interest OR compounding interest) AND (finance OR investment OR banking OR savings) |
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→ (retirement planning OR retirement strategy OR retirement savings) AND (financial advice OR financial planning OR investment strategy) → (401k OR retirement savings OR retirement plan) AND (investment OR financial planning OR employee benefit) → (ROTH IRA) OR (Roth individual retirement account) AND (retirement savings OR investment OR tax advantage) → (Roth IRA OR Roth retirement account) AND (traditional IRA OR traditional retirement account) AND (comparison OR difference OR pros AND cons) |
Biblical Perspectives of Finance
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Topic |
Keywords |
|---|---|
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→ (faith-based OR religious) AND (stewardship OR environmental management OR resource conservation) AND (community OR organizational) → (stewardship OR management) AND (financial responsibility OR fiscal accountability OR financial governance) → (stewardship OR resource management) AND (principles OR guidelines OR ethics OR responsibility) → (stewardship OR leadership) AND (generosity OR philanthropy OR charitable giving) |
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→ (contentment OR satisfaction) AND (consumer culture OR consumerism OR consumer behavior) |
Hagler, G. M. (2025). Financial Literacy. Salem Press Encyclopedia.