7/28/20-Financial Literacy Must be Indispensable Part of Education
- July 28 2020
- By: info@njcfe.org
- 0 Comment
Financial Literacy Must be Indispensable Part of Education
July 20, 2020 | thecoastnews.com
According to The Federal Reserve, nearly 40% of Americans do not have the cash available to cover a hypothetical $400 additional expense in their monthly budget. Of that 40% nearly half would have to use a credit card or risky pay-day loan, and 12% flat out could not pay it off.
These statistics should be sounding an alarm to everyone that we are a nation of people living off of credit, paycheck to paycheck, unable to cope with even the slightest financial bump in the road.
Unfortunately, the problem is rooted in something deeper than simply being made aware of the statistics. The absence of preparedness and stability is due to lack of financial literacy in our education system.
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