Monthly Archives: April 2019

Why is financial literacy important?

Financial literacy is important because it equips us with the knowledge and skills we need to manage money effectively. Without it, our financial decisions and the actions we take – or don’t take – lack an informed foundation to maximize their success. And this can have dire consequences.

• Nearly half of Americans don’t expect to have enough money to retire comfortably
• Credit card debt has reached its highest point ever.
• Forty percent of Americans can’t afford a $400 emergency expense
• Student loans are in default at the highest rates in history

Given the above statistics, it might not be surprising that nearly tw0-thirds of Americans can’t pass a basic test of financial literacy.

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