Financial Literacy

Welcome to the University of Maryland Office of Student Financial Aid Financial Literacy site.

Who is Ben Bernanke?

Ben Bernanke is the 14th and current Chairman of the Board of Governors of the Federal Reserve.  The Federal Reserve is the official bank of the United States and is a major factor in the economic system for the entire United States.  Does this matter to you?  Yes.  The Fed sets the interest rate for loans between banks; this in turn affects the interest rate you will pay for that new car.

What is net worth?

Net Worth is a measure of your financial strength and is usually defined as your total assets minus your total liabilities. Many people calculate Net Worth each year as part of tax preparations.

Being responsible members of society and wanting to make the most of what we have, we need to be educated consumers.  Preparing you to be a Financial Wizard is beyond the scope of this web site, but it is our hope that you will be encouraged to continue your journey to financial competency.

This site will discuss some basic skills and knowledge you need to be financially literate.

Disclaimer: Nothing in this site should be considered authoritative financial advice. Your circumstances are unique and you may want to consult a financial advisor.

Several videos identified with the symbol are available throughout the site. Links to the videos are also collected in the Videos to View topic.

Before we proceed, a word about organization and navigation. This web site includes several topics. Though each topic can be viewed independently and in any order, the recommended order is to start at the beginning and follow the navigation links at the bottom of each page. Following the navigation links will ensure that each topic and page is covered.

Clicking on will display answers to the previous questions.