223 National Financial Literacy Month - Day 16 - Financial Literacy Statistics

 

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