Financial Literacy refers to the knowledge and skills that enable individuals to make informed and effective decisions regarding their financial resources. This includes understanding concepts such as budgeting, savings, investing, credit management, and financial planning. Financial literacy empowers individuals to manage their money wisely, avoid debt pitfalls, plan for the future, and achieve their financial goals. It is an essential skill for navigating the complexities of personal finance and making sound economic choices.
For Students: Financial literacy empowers you to make informed decisions about budgeting, saving, and managing student loans. It equips you with the tools to build strong financial habits early, avoid debt pitfalls, and plan for long-term goals like career advancement or homeownership.
For Parents: Financial literacy provides the knowledge needed to better support your children’s education costs, navigate financial aid options, and manage household expenses effectively. It also sets a positive example for your children, opens up conversations, and fosters a legacy of sound financial practices.
For Our Community: Financially literate communities experience stronger economic stability. When individuals manage resources wisely, it reduces reliance on social programs, fosters small business growth, and promotes overall economic health, benefiting everyone in the community!
My name is Jim Patterson, Director of Financial Literacy at Ferrum College. My goal is to assist students, faculty, staff, and the greater Ferrum Community grow their understanding of how money works, how to budget, how to save, and how to build wealth for their future.
I understand how overwhelming it can be to learn about finances, taxes, credit scores, and the cost of your education. Most people haven’t had access to clear, supportive guidance and education on these topics. My job is to ensure that these concepts and others are ones that you will be able to understand and apply not only while here at Ferrum but also post-graduation.
I am here to help you, providing you with workshops, classes, and resources. I will be available to work with you one-on-one tackling concerns specific to your circumstances, with an open door and a passion for empowering your financial future.
See you on campus!
Jim Patterson
Contact Jim Patterson for more information!
