Financial Literacy

Here at Florida A & M University, we want to ensure that financial literacy a part of your life. The Office of Financial Literacy is designed to help students develop and build a firm foundation for financial stability.


Helping to Prepare for the Future

The more you know, and the more you understand the logic of managing your finances, the better prepared you will be for life and beyond FAMU. We offer educational services including coaching sessions, workshops, tutorial, and events. However, we do not provide any investment, legal, or tax advice. The information we provide is for general education purposes only, and is not intended to substitute for the advice of your investment, legal, and/or tax advisors or to be the basis of specific trading or investment activities. If you need investment, legal and/or tax advice, please consult with a professional

What is Financial Literacy?

Financial literacy is the ability to understand and effectively utilize various financial skills in a responsible manner. This includes budgeting, handling money, dealing with credit, debt, protecting your identity, and managing your personal finances. Financial literacy is the foundation of building your relationship with money, and it is a lifelong journey of learning. The earlier you start, the better you will be, because education is the key to success when it comes to money. 

Why is Financial Literacy so Important?

Having the ability to understanding your finances enables that you to make sound decisions both now and in your future. In a college and/or university environment there are many complicated and difficult financial decisions that are often being made for the first time. By expanding your horizons with reliable resources, exploring your options concerning financial literacy, and making the choice to stay informed, students are significantly more likely to succeed and avoid common financial difficulties. Having a strong financial literacy platform can decrease financial downfalls and eliminate debt as well as help you to build credit and achieve financial stability.


Financial Literacy Topics

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It is recommended to save at least 10% of your income and if you are able to save a higher percentage then go for it!

Also, you should have different savings accounts (or buckets) for different needs.

Here are some examples of different types of saving accounts or buckets you should have:

Core savings to hold your money securely
Emergency fund to cover any unexpected expenses life throws at you
Fund to save for a house
Fund to save for a car

There are many accounts/buckets you can use to save for different things and for each person this will be different so take some time to figure out what you are saving for and how much of your income you will allocate to each bucket.

P.S: A bucket in personal finance is simply a means of dividing up money into certain areas. Certain savings accounts let you have multiple buckets under one account so you can divide your savings into multiple categories.

One of the most important aspects of personal finance is knowing where you stand financially and you can’t do this if you aren’t tracking and budgeting.

First, you need to create a spreadsheet or table with two columns, one for income and one for expenses.

And… you guessed it! You will then list out all your means of income and then all the expenses you have (it’s best to do this as monthly income and expenses)


Rattler Budget Worksheet

Please use our Rattler Rattler Budget Worksheet as a tool to help anticipate your educational expenses. We have included some step-by-step instructions for completing the budget worksheet below. This worksheet is editable. You can type in your information, save as a PDF document, print and/or forward your information to the Financial Literacy Debt Advisor/Counselor for further review prior to scheduling a consultation. 

One of the most common things that keep people from achieving financial freedom is debt.

If you don’t learn how to handle debt properly you can find yourself in a deep hole that is very hard to get out from! Unfortunately, for many people, debt will be accumulated at some point in 
their lives. Whether it’s student loans, a mortgage, car loan, etc… Debt will cause you to pay more for the item/service in the long run due to interest so make an effort to pay off your debts as 
soon as possible!

Track every debt you have and start paying them down each month to save money in the long run!

As you are saving money, making money, and investing money you have to make sure all your financial accounts are secure. Hacking is a huge issue right now and it’s continually getting worse as everything is moving to digital form.

With online banking, online investing platforms, financial tracking apps, etc… your information is all over the internet that can be a prime target for hackers.

To secure your financial accounts, you need to set strong passwords that are unique to each 
account and you should set up two-factor authentication on your accounts if possible.

How Can I Learn More about Financial Success? The following resources can help you understand and improve your financial situation:



Want to Connect?

If you are interested in scheduling a coaching session or workshop, connected with one of our Financial Literacy Debt Advisor/Counselor via email to make those arrangements.


Mr. Tracey L. Clark, Jr.
Financial Literacy Debt Advisor/Counselor
Office of Financial Literacy
Division of Student Affairs

Dyson Pharmacy Building, Rm 127
1520 Martin Luther King Jr Blvd
Tallahassee, FL 32307 or

Mrs. Adrienne D. Kendrick, M.Ed
Financial Literacy Debt Advisor/Counselor 
Office of Financial Literacy
Division of Student Affairs

Dyson Pharmacy Building, Rm 121
1520 Martin Luther King Jr Blvd
Tallahassee, FL 32307 or