Did you know April is Financial Literacy Month? The Jump$tart Coalition for Personal Financial Literacy began promoting Financial Literacy Month back in 2000 in an effort to highlight the importance of teaching more Americans about money matters. The government officially recognized April as Financial Literacy Month in 2004.
But why? Do we really need financial education and literacy?
The answer is a resounding yes. Check out this infographic the Gen Y Planning team put together that shows what the average American thinks about money and what kind of financial problems we’re dealing with today:
Most of these statistics are pretty grim. With an understanding of how to better manage money and how to make the most of limited resources, many Americans could improve their personal financial situations.
That’s why things like Financial Literacy Month are crucial. We need to boost awareness – and most of us seem ready to put some basic educational programs into place for our children and teenagers.
Would you have appreciated financial education classes in high school? Where did you learn about personal finance – or are you currently still trying to learn more?
There is a wealth of information on finance on the internet, but when you don’t understand why you might need to use it you’re unlikely to pursue it on your own. With teenagers interested in learning about money basics like budgeting and banking, it might be time to consider including courses on financial responsibility, how to build budgets, and why investing is important.
Want to join in on the effort to spread financial literacy? Click here to tweet this infographic and share the data on what’s going on with the average American’s money – and why we really need to continue pushing for greater financial education.