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223 National Financial Literacy Month - Day 16 - Financial Literacy Statistics
Manage episode 325785764 series 2786297
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It is interesting to discover, one in three Americans delayed a major purchase decision due to financial woes. A recent study reflects that over one third of Americans have postponed a major life purchase decision due to money. The fact of the matter is, it is actually an improvement over a 2015 study, which reports more than half of Americans reported delaying a decision.
If you are an American, work to avoid letting money slip through your fingers. Late fees and overdraft charges combined with costs that come with fraud total up to an average of nearly $600. Just imagine what could do with an extra $600 do for you each year.
Note that as of 2020, twenty one percent (21%) of American households have no money set aside for emergencies. This can spell financial disaster. But building an emergency fund is no easy task. Many people feel pulled in so many directions.
Four out of five parents, wish they learned more about money as a child. The vast majority was really clear about one thing: they wish they knew more about finances when they were younger. Of course, we know hindsight is 20/20. Rather than spend time fretting over what you wish you learned sooner, commit to learning even more about money now...and take your kids along for the ride.
Many parents admitted that they don’t always feel confident having money conversations with kids. Pushing for a financial literacy curriculum and conversations in schools can help. Nothing replaces learning about money at home, so set aside some time and have money talks with your children.
Overall we can all do better when it comes to our finances. These survey results represent a baseline in which you can measure where you are on your financial journey and work to master your finances.
Learn about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link: https://bit.ly/3dbperG
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