Financial Literacy: Too Many Lacking


It’s Financial Literacy Month. Hopefully it has arrived in time as far too many people are lacking in just that concept. Witness a new survey from the National Foundation for Credit Counseling and the Network Branded Prepaid Card Association.

Witness a few results from the survey:

  • More than half of U.S. adults admitted that they do not have a budget

  • One-third of survey respondents do not pay all of their bills on time

  • Thirty-nine percent of adults carry over credit card debt month to month

  • Twenty-five percent of those who do not currently have non-retirement savings indicated that, if they did begin to save, they would keep their savings at home in cash

“This year’s survey unveiled some disturbing trends, showing that a significant number of Americans are saving less, spending more and carrying credit card debt over from month to month, suggesting that the painful financial lessons of the past are quickly being forgotten,” said Susan C. Keating, president and CEO of the NFCC.

My reaction is a little more straightforward, 15 words in fact. "Really? Come on, people. Get in the game or you only have yourself to blame."

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