INCREASING FINANCIAL LITERACY IN THE UNITED STATES

A 2018 study by FINRA found that from 2009-2015, Americans got worse at answering five key personal finance questions.

Without a proper financial foundation, Americans are lacking substantial savings for the future, are unaware of the full impact of interest, and are falling victim to soaring rates and bad credit.

According to the Federal Reserve's 2018 report on the economic well-being of U.S. households:

Almost 40% of American adults wouldn’t be able to cover a $400 emergency with cash, savings or a credit card that they could quickly pay off

27% of those surveyed would need to borrow the money or sell belongings to acquire the $400

12% would not be able to cover the $400 at all.

Improving your own financial literacy:

HELP YOU CAN UTILIZE TODAY:		A LONG-TERM SOLUTION:
1. Personal Capital – for personal savings 2. College Covered – for college savings 3. AFCPE – free virtual financial advising		Require financial literacy to be taught in mandatory core curriculum. Students would learn about interest rates, the impact of credit scores, how to file taxes, buying a house, or even just writing a check.

Alyssa Hepburn takes full responsibility for the information posted. The information on this page represents that of Alyssa Hepburn and not that of California State University, Sacramento