Financial literacy is important because it equips us with the knowledge and skills we need to manage our finances effectively.
If we do not have it, our financial decisions and actions or lack thereof, lack a solid foundation for success. We provide courses that address the financial disadvantages that Black and African American people face.
"I now have a better awareness of my finances and investment options. I'd want to take another course in the future. Thank you for making this amazing online opportunity available."
- Jane Doe
Earning
It is vital to evaluate your financial condition based on your annual income. As a consequence, understanding your annual income and determining your annual revenue are crucial. Knowing your income will not only help you create a budget, but it will also show banks and lenders that you can repay loans and mortgages.
Consuming
Proverbs 21:5 – The plans of the diligent lead to profit as surely as haste leads to poverty. Developing a plan is the key to success in other areas of finance. You can do this by setting goals, creating a budget, and staying accountable to someone.
Investing
Investment is one of numerous factors that influence economic growth. You do not need to put aside a large chunk of money to invest. Using compound interest, you may make money on both your initial investment and the interest that has collected since you made it. Everyone should invest, but everyone has a different strategy that best suits their personal and financial goals. It is advised to start investing as soon as possible. Even those who do save for retirement may not have saved enough to last them through their golden years.
Hi, I’m Dr. Stephanie Stevens-Hicks, DHA, MBA, HCM
I am an Author, Mother, Grandmother, and Entrepreneur. I was born and raised in Southeast Georgia, but now call Central Texas home. I have a Doctorate in Healthcare Administration from Virginia University of Lynchburg, and a Bachelor's and Master's degree from the University of Phoenix. My undergraduate degree is in Business Administration with a focus on Finance and Accounting, and my master's degree is in Business Administration with a focus on Healthcare Management. I am a loyal United States Army Veteran who served honorably in Iraq from 2003 to 2004. After leaving the military, I began working for the federal government as a Civil Service employee and have done so for the past 22 years. Financial literacy is critical, and it is a serious concern for African Americans. It may be quite stressful to have a mountain of debt to cope with. To be financially literate, you must have a basic understanding of money and finance issues, especially your own personal finances. It is vital to provide resources that are both simple to use and cost effective. That is my goal and purpose.
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Financial literacy refers to the cognitive understanding of financial components and skills such as budgeting, investing, borrowing, taxation, and personal financial management. A lack of such qualities is referred to as being financially illiterate. Individuals that are financially informed are better prepared for some financial challenges, which minimizes the chance of personal financial difficulties. Financial literacy is essential in today's society due to common aspects of life such as student loans, mortgages, credit cards, investments, and health insurance.
