Shocking Statistic on Financial Literacy
posted on May 21, 2008 10:55 AM in General, Payday | Permalink
We just saw these statistics online and wanted to share them with our readers:
- 40% of Americans say they live beyond their means.
- 50% of Americans live paycheck to paycheck.
- Only 32% of American parents talk to their children regularly about personal finance.
- Only 21% of graduating high school students participate in financial literacy courses.
- In 2008, students surveyed by the Jumpstart Coalition scored lower on basic financial literacy test than their predecessors in 2006.
- 20% of employees are unable to carry out normal work activities three days per week due to financial concerns.
- 43% of adults at the lowest level of financial literacy live in poverty, compared to 4% of those at the highest level of financial literacy.
Sources:
Federal Reserve: http://www.federalreserve.gov
JumpStart Coalition: http://www.jumpstartcoalition.org
National Endowment for Financial Education: http://www.nefe.org
