10 Facts for Financial Literacy Month
To give you a better idea of the state of financial literacy in the US, here are 10 not-so-fun facts.
- Americans owe over $800 billion in credit card debt (as of January 2022).
- 23% of adults between 18 and 29 years old have credit card debt that’s more than 90 days overdue.
- 19% of Americans report spending more than their income in the past year.
- 56% of Americans say they couldn’t cover a $1,000 emergency with savings.
- 60% of adults say they don’t think their retirement savings are on track.
- 65% of adults say money is a significant stressor in their lives.
- 32% of teens don’t know the difference between credit and debit cards.
- Women save 68 cents for every dollar men save.
- Women are less likely than men to be offered financial education.
- Only 24% of millennials understand basic financial topics.
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