Financial Literacy

Credit Card Debt After The Holidays: Survey Finds $998 Average Balance – LendEDU

In January, LendEDU conducted a survey of 1,000 Americans who went into credit card debt as a result of holiday spending.mIn short, we found that our average respondent accumulated $998.36 of debt after splurging for the festivities.  Respondents were asked a series of questions about their credit card spending during the holidays, debt payoff plans, and post-holiday financial stress.

Financial Literacy Awareness Needed by Employees

Financial literacy awareness, if done right, can help change the wealth trajectory of America’s workers and set them on a course for a comfortable retirement. Whether it is inside or outside of the 401k financial literacy awareness programs help employees’ comprehension of basic financial concepts, so they can manage their money better. It appears debt

Partially Privatizing Social Security Sounds Great, but Offers 2 Big Drawbacks

Few social programs bear as much importance to the financial well-being of older Americans as Social Security. Despite the average retired worker payout being only $1,417.22 a month in September 2018, the program is responsible for keeping 15.3 million retirees out of poverty. Furthermore, more than three out of five of today's aged beneficiaries lean

These 9 bad habits and traits will keep you from your financial goals

While people start out with good intentions and set their sights on meeting various financial goals, many never achieve them and instead fail miserably. Here are nine bad habits that will hinder investors from reaching their financial success. 1. Failing to plan. Lacking a financial plan means you have no focus and you can easily be

People who use mobile fintech apps tend to make worse financial decisions

One of the wonders of the modern life is all of the whizzy technology available to help us manage our money. But does it mean we make better financial decisions? Maybe not. A study of mobile-payment using millennials (ages 18-34) in the US found they were less likely to be financially literate than others of the

Six Steps To Implementing Financial Education In The Workplace

It is well known among employers that a lot of employees struggle with stress -- including financial stress -- at work. According to a recent survey from PwC, nearly one-third of employees report being distracted due to challenges with their personal finances. Persistent debts, outstanding bills, sudden large costs and overwhelming medical bills contribute to employees being

Are You Smarter About Personal Finance Than Your Fellow Americans?

There's a lot to know about your money. Unfortunately, many Americans don't know some of the basics that are important to making sound financial decisions. In fact, the Federal Reserve reported recently on how well Americans did when answering four basic financial literacy questions -- and there were a surprising number of incorrect answers. Can you correctly

Why We Need to Nurture Entrepreneurship in Young Girls

Last month, women on college campuses around the world gathered for Women Entrepreneurship Week, an annual event that brings budding female entrepreneurs together with female startup founders through workshops and panel discussions. Last year, it attracted participants from 76 universities in 15 countries. Programs like these promote and support women’s entrepreneurship—and we need more of them

America’s Growing Financial Literacy Problem

Making major personal finance decisions can be daunting for anyone. Whether the decision is related to paying back student debt or how to invest for the first time, the outcomes of these decisions have a long-term impact on the quality of our lives. Smart decisions can lead to achieving financial independence, while bad decisions can lead

Fintech savvy no substitute for financial literacy, finds study

Millennials’ usage of smartphones can’t fill gaps in their financial literacy, according to a new report. The study, titled Millennial Financial Literacy and Fin-Tech Use: Who Knows What in the Digital Era, comes from the TIAA Institute and the Global Financial Literacy Excellence Center (GFLEC) at the George Washington University School of Business. It assessed individuals’

Brushing up on financial literacy

Money is the greatest and the most ill-used factor in life. People don’t know how to tend it, how to manure it, how to water it, how to make it grow, and when to pluck its flowers and when to pluck its fruits.  These were the words spoken by Margayya, the people’s banker in the

Are states providing adequate financial literacy education?

Young people in America face an economic landscape marked by increasingly expensive higher education costs, more frequent job changes, and greater personal responsibility for retirement savings. It is more important than ever that youth are financially literate in order to navigate the many difficult decisions they will face during their lifetimes. Unfortunately, levels of financial

Financial Literacy Awareness Programs Include Eliminating Confusion

Financial literacy awareness programs are topics we address with regularity.  Whether people realize it or not, strong financial literacy awareness programs are at the heart of the success of every 401k, 403b, and financial wellness effort. And rightly so. Many Americans are confused about managing their day-to-day finances because they simply fail to comprehend the

Millennials don’t trust the financial industry. These startups want to change that.

One spring morning in New York City’s Financial District, several besuited men couldn’t help but stop and gaze at a rather out-of-place sign hanging from the New York Stock Exchange building. “Follow us on Pinterest!” read the enormous red banner. A few weeks later they stopped again, this time in front of a yellow sign

By the numbers: Americans are barely in control of their money

In an era of financial-services innovation, money remains one of the great stressors in our lives. By the numbers: 5% of Americans with checking accounts rack up more than 50% of all the country's overdraft and bounced-check fees. It's a $35 billion income stream for the banks, even after Dodd-Frank. Needless to say, those 5% of Americans are

5 Awesome Budgeting Apps For 2018 And Beyond

If you feel like your finances are out of control, it’s likely that you’re not using a budgeting tool, and today’s best budgeting tools are apps. It’s no surprise that so many who feel helpless with money aren’t using the tools available to them. Let’s solve that. Below are five apps that will get you

Financial Literacy Awareness and Wage Increases Would Complement Policy Moves

Financial literacy awareness and wage stagnation are contributing factors in how much an employee can save for their retirement years.  There is no denying the current retirement plan policy proposals on the table for regulators and legislators, are good for American workers. The executive branch and lawmakers are looking for ways to make workplace retirement

Our Favorite Tools to Stay on Top of Your Financial Life

Getting your finances in order isn’t a one-time task — it’s an ongoing process. Whether it’s budgeting, planning your debt payoff, or monitoring your credit, your financial life needs regular, reliable attention. The right set of tools can help. We’ve rounded up some of the best money apps and services to help you get on

Do Financial Literacy Courses Work?

The classroom is where many Americans learn to read, write, perform arithmetic and speak a foreign language. So can it also be the place where they master important financial concepts such as how to manage debt, improve credit, take out student loans and plan for retirement? For many politicians, educators and financial literacy advocates, this question