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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