Financial Literacy

Why you need to be the CFO of your personal life

Take a look inside any successful, growing company and you’ll see that the business owner or CEO has spent countless hours on thoughtful, detailed planning to get there. As part of the overall business plan, they’ve also put people and systems in place to sufficiently manage the company’s financial health. Without knowing the assets, fixed

What Is Financial Literacy and How Can You Improve Yours?

From subsisting on a ramen noodle diet to working multiple jobs while in school, college students are notoriously cash-strapped. But while you may have to scrimp to make ends meet now, you may have a brighter financial future, and sooner than you think -- particularly if you start adopting smart financial behaviors during your college

Stop Teaching, Start Coaching

While some advisors see client financial education as a primary service, others are not convinced that the practice has real value. Decades of academic research only serves to intensify the debate because studies can be found to both defend[1] and refute[2] the effectiveness of financial education. How do we make sense of all these (often

Tax time: 5 smart and dumb things to do with your refund

For many people, tax season can feel a lot like Christmas morning. With more than 70% of U.S. taxpayers expecting to receive some sort of refund this year, according to IRS, that means Americans have essentially three choices to make with the extra cash on hand: save it, spend it or pay down debt. Chris Whitlow, CEO of Edukate, a workplace

Improve your financial literacy with these library books

The ability to manage debt and make good financial decisions can have a lasting impact on our lives, and yet many Americans struggle with financial literacy. Each stage of life, from starting a new career, to beginning life with a new baby or contemplating retirement, can take a different financial toll. For that reason, financial

Employees might lack more financial skills than plan sponsors suspect

Financial wellness programs and efforts to educate employees on retirement plan ins and outs notwithstanding, employers may not be giving employees what they need to navigate the intricacies of finance. What they really need are skills they should have gotten years ago. That’s the conclusion of “The financial skills of adults across the world,” a

8 Small Financial Mistakes That Lead to a Mountain of Debt in Your 30s

No one wants to deal with money problems when they get older. But, unfortunately, many high schools and colleges don’t teach teens and 20-somethings how to manage their finances properly. In fact, the average person under 35 has around $5,800 in credit card debt alone, according to ValuePenguin. That’s on top of student loan debt, living

4 Stats That Reveal How Badly America Is Failing At Financial Literacy

Do you work hard every single day but still don’t feel like your finances reflect your grind? You’re not alone. Most of us invest a significant amount of time, money and effort on getting a job but we pay very little attention to managing the money we make once we have that job. And having

Money 101 For Millennials: Seven Tips For Improving Your Financial Literacy

When young adults become fully responsible for their personal finances for the first time, they're often in for a rude awakening. Financial literacy is rarely taught in school, and if their families didn't discuss credit scores, taxes and interest rates as they were growing up, these newly-minted members of the "real world" can easily get

Five Ways You Can Become Less Financially Vulnerable

If I asked you, “On a scale of 1-10 where 1 = “not at all financially vulnerable” and 10 = “very financially vulnerable,” how financially vulnerable do you consider yourself to be?” how would you answer? Public policy makers(link is external)define a financially vulnerable consumer as “someone who, due to their personal circumstances, is especially susceptible to detriment.”

April is Financial Literacy Month – Why Financial Wellness Matters

April is Financial Literacy Month and a great time to focus on financial education. A lack of financial preparedness has huge societal costs, and in the coming years as Americans age, these costs will likely increase. There are daunting challenges facing not only the poor but also the working middle class. In the face of

“Adulting” Is Harder Without Any Financial Education

T. Rowe Price’s tenth annual Parents, Kids & Money Survey revealed that receiving financial education in school can have a positive impact on financial behaviors years later. The survey sampled 1,000 young adults and found that those who received some financial education in school (59%) are more likely to have good saving habits compared with those who did not

Can You Pass the National Financial Literacy Test? Less than 50% of Americans can

Click here to take the test People representing all 50 U.S. states responded to a quiz assessing their money knowledge. The National Financial Educators Council (NFEC) designed the 30-question National Financial Literacy Test to measure teens' and young adults' ability to earn, save, and grow their finances. The average score of financial capability among this

In quest for financial literacy, the buck stops with parents

Money might be the last taboo topic. In a society that runs on capitalism, we seem to have a harder time talking to our children about personal finance than we do about sex, race or even death. Maybe it’s because so many of us are so bad at financial matters ourselves. According to a 2017

The Personal Finance Landscape

The reason it’s so hard to master? It’s actually a multi-disciplinary field that requires foundational skills ranging from psychology to negotiation. Navigating the personal finance landscape requires skills or knowledge in the following foundational areas: Psychology Philosophy Analytical skills Communication Research History Negotiation Forming Habits Using this knowledge, you can approach the vast personal finance

Five things to know about the financial illiteracy crisis

Over the past five years there have been repeated calls for the government and educational bodies to step up and tackle financial illiteracy. These have largely fallen on deaf ears, and the crisis has continued to deepen. With this in mind, here are the five things financial advisers need to know about the financial illiteracy

The Financial Literacy Problem [Infographic]

Financial literacy has been dropping for years, making the need for a personal finance education even more crucial. The outcomes of key financial finance decisions have a long-term impact on our lives. Choosing a career, saving money, spending wisely, making investments, borrowing money, and buying a house are all important events that can make or break

Companies Pay Workers to Get Savvier With Money

A growing number of companies are paying employees to get their financial lives in order, reflecting concern over the impact money problems are having on employees’ stress and productivity levels. Aetna Inc., AET -1.27% Pitt Ohio LLC, SunTrust Banks Inc. STI -0.10% and others are handing out cash and other inducements to workers who take steps to shore up their finances by reducing debt,

Financial Feedback

How feedback trumps financial education in improving people’s financial capability. By Crawford Hollingworth and Liz Barker, The Behavioural Architects Our financial capability – being in control of managing our money – is crucial to our financial health. Without it, we may struggle to pay off debts, pay bills on time, buy a house, save for unexpected

Stanford’s Mind Over Money program fosters financial literacy

As an urban studies major, Erika Topete, ’12, knew she could turn to her professors for academic advice analyzing any aspect of federal education policy. But when it came to making financial decisions – selecting a credit card company, choosing between additional loans and a job, considering leasing or buying a car during her senior

2018-02-19T15:24:56+00:00 Tags: |