April is Financial Literacy Month!

National Financial Literacy month is recognized each year in April to raise public awareness of the importance of financial literacy and maintaining smart money management habits.

Throughout the month, we’ll be sharing helpful resources to help YOU become more financially independent.

America Saves Week

Since 2007 America Saves Week has been an annual celebration as well as a call to action for everyday Americans to commit to saving successfully. Checkout @mlcdirection on Instagram or on Facebook @mlcdirection for more information about each day’s theme.

Want to recap America Saves Week? Check out this scavenger hunt for a fun way to get great resources!

Submit your form by 12pm on Monday, April 22nd for a chance to win PRIZES!

MONDAY:        Saving Automatically 

TUESDAY:          Saving for the Unexpected

WEDNESDAY:        Saving for Major Milestones

THURSDAY:       Paying Down Debt is Saving

FRIDAY:            Saving at Any Age

SMART Saving Goal

Now is your chance to tell us YOUR saving goal for a chance to win a PRIZE.
Make your goal a SMART goal to ensure your success:

  • SPECIFIC (exactly what you are saving for)
  • MEASURABLE (how much money you will save)
  • ATTAINABLE (something you can accomplish in the next 5-10 years)
  • RELEVANT (something that matters to you)
  • TIME-BOUND (how long it will take you to accomplish this goal)

Prize Winner: August Wall

finanical-literacy-logoFinancial Wellness Program


CashCourse Scholarship Opportunity

Who doesn’t love free money? Now is your chance! If you complete both CashCourse topics by the deadline, you will be entered into the drawing for an MLC Direction scholarship on your student account. There will also be monthly drawings for other prizes! 

DEADLINE to complete all requirements: 3/10/24 by 11:59pm

  • Freshman: 4 @ $50  *  Sophomore: 4 @ $50  *  Junior: 4 @ $75  *  Senior: 4 @ $100

REMINDER: After 3/10/24, students with incomplete topics will be placed on a registration hold.
This will prevent you from registering for 2024-2025 classes. 

Online Activities

Group Sessions


  • Basic Principles:
    • Save for an Emergency Fund
    • Learn to live on LESS
    • Limit your “non-essential” purchases
  • Using an app to track your spending can help you manage your money:
  • Using a budgeting app can help you track both income and spending:

  • Strategies for cutting costs, saving money, and making smart financial decisions:
    Blogging for Change
  • Information on car insurance, car maintenance, car loans, resources and more:
    Car Guide
  • Making your own food versus going out to eat can save you money (and calories!)
  • Tips for healthy eating on a budget
  • 20 Recipes for eating healthy on a budget


Don’t borrow more than your first year’s Gross Earnings!

  • Remember the federal loan limits:
  • Estimate your loan repayment with the Federal Student Aid Loan Estimator
    (select Proceed and enter your loan totals or loan estimates)

Private Loan Consolidation:

Direct Loan Consolidation:

  • Do you have both Perkins AND Federal Direct (Stafford) loans? Discover more information about a Direct Consolidation Loan.

Student Loan Consolidation Guide:

  • Additional resources on the following topics
    • Spending
    • Budgeting & Saving
    • Credit
    • Debt & Loans


  • You are considered self-employed (for social security purposes) and an employee for other tax/fringe benefit purposes.
    SECA (Self-Employment Contributions Act) covers both social security and Medicare taxes at 15.3%
    SECA must be paid on all income (including the amount of housing allowance and/or fair market value of provided housing)
  • Income tax/social security tax/etc. will not be automatically withdrawn from your paycheck.
  • Plan on setting up a separate account to deposit 20-25% of each paycheck (work with a tax preparer to know how much to set aside). You can then pay your quarterly tax estimates directly from this separate account to prepare for the large payments.
    Quarterly tax estimates are due on:
    April 15 (Jan 1 to March 31)
    June 15 (April 1 to May 31)
    September 15 (June 1 to August 31)
    January 15 (Sept 1 to Dec 31) *paid the following year
  • When you complete your taxes, talk to your accountant/tax preparer! Let them know you are a Minister of the Gospel so they can help you properly complete your tax return information.

To help keep college costs down,
good planning is the best strategy!

  • Take AP Courses that will transfer for your major (or as needed elective credits.)
  • Save money from high school graduation and work as much as possible in the summer.
  • Apply for financial aid every year.
  • Minimize student loans – only borrow what you need.
  • Try to graduate in 4 years.
  • During your Financial Review Meeting, preparation for seminary payments are reviewed.
  • The Student’s Guide outlines different scenarios for a variety of scams that range from tax scams and identity theft to PayPal and rides share scams. Each section provides prevention tips for each situation and a top 10 list of fraud prevention tips are share.

What are students saying about the Financial Review Meetings?

“Seeing average people’s expenses was nice for me. It was great exposure, I personally also believe we should have more of this at MLC.”

“This was a great meeting because I was nervous but I was greatly helped.”

“I have options for future repayment and I have people I can contact that will help me if I have questions.”

“It’s good to have some sort of understanding of how to budget for the next few years.”

Financial Literacy Events and Updates


MLC believes that developing financial literacy and understanding financial wellness are critical aspects of your education.

Staff who work with students on financial issues do not provide investment, legal, or tax advice. This website and information provided is for general educational purposes only. If you need investment, legal, and/or tax advice, please consult with one of these professionals.

The links to third-party financial resources are provided as a convenience for informational purposes only. MLC neither endorses nor approves any of the products, services or opinions of the entities or individuals associated with these links. MLC and MLC Direction bear no responsibility for the accuracy, legality or content of any external site associated with the links provided or any subsequent links.

MLC Direction Instagram

Follow us on Instagram for Financial Aid information such as dates/deadlines and scholarships!