Financial Literacy

At Clark Atlanta University, the Financial Literacy Initiative is a mandatory program for first year students, designed to give them the knowledge needed to ensure good financial decisions while in college and provide the tools to build a solid foundation for the future.  Peer counselors lead a set of workshops to help students develop skills managing personal finance, such as banking, investment, insurance and taxes. This program may cover the following topics:

1. Investing in Undergraduate Education -- Providing key information to help parents and students understand the costs of attending college and financial aid resources
2. Needs and Wants: Prioritizing What Counts -- Helping students think about the differences between things that are fundamental necessities as opposed to desires or preferences, and how these things can vary across time and circumstances
3. Monitoring Spending: Keeping It Real -- Providing an overview of how spending plans can be adjusted to stay in step with financial circumstances
4. Spending Plans: Meeting Goals the Simple Way -- Includes information on reducing spending, and planning ahead not only for monthly bills, but also for things such as regular savings and expenses that are not part of each month's budget, i.e., quarterly car insurance payment
5. Setting Goals: Getting There -- Discussing several facets of financial goal-setting, including how specific the goals are and the time frame set for the goals
6. Credit Basics: How Money Works -- Shows how borrowers can use future income to make large purchases, such as an education or a house
7. Managing Credit: Priorities and Pitfalls -- Covering the ways credit affects many parts of your life, what you need to know about your credit report and credit score, and some standard guidelines for keeping your credit in good shape, including how to avoid identity theft
8. Solving Debt Problems: Strategies and Solutions -- Showing some of the steps borrowers may choose to take to get out of financial trouble
9. Saving and Investing: Risks and Returns -- Providing an overview of how money can grow over time.