Lack of Financial Education is the #1 Economic Crisis in the Country
Personal Finances is an often overlooked area even for educated families.
It cost Americans more than $307 billion in 2019.
Source: National Financial Educators Council Survey
81% of American believe that financial education should be taught in schools.
Source: National Financial Educators Council Survey
Result of Lack of Financial Education
40% of Americans don’t have the cash to pay for an emergency expense
25% have no retirement or pension savings
Less than 60% can answer at least three basic financial literacy questions correctly.
1 in 5 adults knows someone impacted by the opioid crisis.
About 25% of borrowers who attended a for-profit college are behind on student loan payments compared with about 10% who attended a public or private college
Source: Federal Reserve Survey of Household Economics and Decisionmaking
https://www.federalreserve.gov/consumerscommunities/shed.htm
https://www.forbes.com/sites/zackfriedman/2018/05/24/money-retirement-student-loans/#1b5c86d11059
65% of adults in the United States report using a saving account
15% of adults roll over $2,500 or more in credit card debt each month
6% of Americans between ages 18-26 are not optimistic about their financial future
Source: National Financial Educators Council
https://www.financialeducatorscouncil.org/financial-illiteracy-in-america/
Learn the Financial Concepts:
