How Would You Grade Yourself on Your Finances?

National Financial Literacy Month is here…

If you were going to grade yourself on your knowledge
of personal finance, how high would it be?

Would it be an A, B, C, D, F?

41% of American adults give themselves C, D, or F on
their knowledge of personal finance, according to a 2014
survey conducted by the National Foundation for
Credit Counseling (NFCC)

The NFCC provides an annual overview of the
American consumer’s level of financial literacy,
and also increases awareness of behavioral
and attitudinal trends associated with personal finance.

Here are some of their findings from the survey:

61% of U.S. adults admit to not having a budget
(the highest percentage in 6 years)

34% of U.S. adults indicated their household
carries credit card debt from month to month.

32% of U.S. adults do not save any portion
of their annual income for retirement.

75% of U.S. adults agree that they could
benefit from financial advice from a professional.

You can view the full survey by clicking on this link:
www.DebtAdvice.org/NewsRoom/FinancialLiteracy

Do any of the above statistics apply to you?

What can the population do to improve its financial literacy?

The U.S. government noticed a problem, so in an effort
to teach people more about their finances, Financial
Literacy Month was established back in 2004.  Each year,
the White House announces the proclamation for
National Financial Capability Month, signed by
the president.

In today’s economy, we have a variety of choices to
make when it comes to life’s biggest financial decisions
— paying for college, buying a home, purchasing a car,
and saving for retirement. A solid understanding of the
marketplace makes it easier to make the best decisions,
avoid scams, and spot misleading information.

I put together some FREE resources so you can continue
educating yourself and make more informed decisions
with your money matters.

Visit:

www.MyMoney.gov or call 1-888-MyMoney
The U.S. government’s website dedicated to teaching
all Americans the basics about financial education.

www.ConsumerFinance.gov
The site for the Consumer Financial Protection Bureau.
The mission of the CFPB is to make markets for consumer
financial products and services work for Americans whether
they are applying for a mortgage, choosing among credit
cards, or using any number of other consumer financial
products.

www.FinancialLiteracyMonth.com
Created by Money Management International
(a nonprofit, full-service credit counseling agency),
the site offers 30 steps for achieving financial wellness.

www.PracticalMoneySkills.com
Free educational resources including personal finance
articles, games, lesson plans, and more. It is offered by
Visa and consumer advocate partners, educators,
and financial institutions.

It is never too soon or late to learn about your finances.
When it comes to getting a score, it does not matter
what grade you get. What matters is being financially
secure. Learn as much as you can and live with
Money on Your Terms.


Tim Mann is a highly sought-after financial coach who

meets with local clients in his sunny office in Los Angeles,
CA as well as clients from around the world via phone
and video. He wrote the best-selling book Money on Your Terms,
and conducts his weekly radio show, The Money on Your Terms Show,
to educate people on all aspects of money.  He is passionate
about having people live with money on their own terms
instead of everyone else’s terms.

If you’d like to learn more, please explore the site, sign up
for Tim’s FREE newsletter or get in touch to set up a
complimentary consultation.

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