Financial literacy is having the skills and knowledge to make informed choices about your personal finances. It is important to be an educated consumer to make the most of your resources and plan effectively for the future. There are many resources available to help you develop the basic skills to manage your money and make decisions about budgeting, borrowing, maintenance of credit, spending, saving and investing. The US Department of Education provides an excellent tutorial to help students navigate the various financial aid programmes and manage their finances and students are strongly encouraged to complete its online financial awareness counselling to understand their loans, manage spending, plan for repayment and avoid default. Please also see the videos on this page covering responsible borrowing and budgeting.