Page 314 - Keys to College Success

Mathematical and

Financial Literacy

HOW CAN YOU BE MONEY SMART?

What Would You Risk? Tererai Trent, Ph.D.

THINK ABOUT THIS SITUATION AS YOU READ, AND CONSIDER WHAT ACTION YOU WOULD TAKE.
THIS CHAPTER ILLUSTRATES THE VALUE OF MATH KNOWLEDGE AND HELPS YOU GET TO KNOW
YOURSELF AS A MONEY MANAGER. IT OFFERS STRATEGIES FOR USING MONEY WISELY IN THE
PRESENT TO BUILD FINANCIAL STABILITY FOR THE FUTURE.

Jo Luck runs a group called Heifer International, which Eventually she applied to and was
aims to combat poverty and hunger through training, accepted by Oklahoma State Univer-
livestock donation, and other services. In the late 1980s, sity. She moved with her family to the
Ms. Luck encouraged a group of women in a Zimbabwe United States with support from Heifer
village to follow their dreams. and the fundraising efforts of family
One of the women, a cattle herder named Tererai and friends.
Trent, wrote down four goals on a scrap of paper: study Despite satisfying her first goal, Tererai and her family
abroad, earn a bachelor’s degree, then a master’s, and lived in a trailer and often went hungry. She continued
finally a doctorate. Having endured spousal abuse and to take risks, enduring beatings from her husband and
years of hard work raising the five children born since missing tuition payments due to financial hardship. With
her marriage at age 11, she hoped that the risk of get- support from OSU she pressed on to earn her B.A., but
ting an education would reward her by bringing her out her husband fell ill with AIDS. His care sapped her energy
of poverty and helping her take charge of her life. She and the family’s finances as she pushed toward the next
took on extra work with Heifer and other organizations reward of her master’s degree.
and spent her earnings on correspondence courses. To be continued . . .

ECONOMIC CHALLENGES
AND RAPIDLY DEVELOP-
ING TECHNOLOGY HAVE
CHANGED HOW PEOPLE
MANAGE MONEY, AND
PAYING FOR COLLEGE
CONTINUES TO BE A CHAL- Working through this chapter will help you to:
LENGE. YOU’LL LEARN
MORE ABOUT TERERAI, • Consider the value of math skills for everyday life P. 278
AND THE REWARD RESULT- • Understand who you are as a money manager P. 280
ING FROM HER ACTIONS, • Identify needs (necessary spending) and wants
WITHIN THE CHAPTER.
(unnecessary spending) P. 280
• Plan and use a monthly budget P. 282
• Investigate how to increase income through
work and financial aid P. 288
• Analyze the cost of credit and adjust credit use P. 292
• Work toward long-term financial goals P. 296