April is Financial Literacy Month: Are You Savvy? - The Explorer: Money & Finance

April is Financial Literacy Month: Are You Savvy?

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Posted: Monday, March 31, 2014 10:00 pm | Updated: 1:32 am, Tue Apr 1, 2014.

(StatePoint) When it comes to budgeting and debt, are you financially literate? Over two-fifths of U.S. adults would give themselves a grade of C, D or F on their knowledge of personal finance, according to a recent National Foundation for Credit Counseling (NFCC) survey.

What’s more, the study suggests a great portion of Americans aren’t proactive about financial planning and literacy. In fact, 61 percent of adults surveyed admit to not having a budget, and nearly one-third of adults do not save for retirement, according to the results.

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In time for April, which is Financial Literacy Month, the NFCC’s annual Consumer Financial Literacy Survey is providing a snapshot of the American consumer’s level of financial literacy. This year’s results, as in past years, suggest a need for more financial education.

Whether trying to ward off a potential personal financial crisis or just looking for more information, consider contacting an accredited nonprofit agency to help you manage debt, write a budget, and reach such financial goals as homeownership. To learn more about how financial counseling can help you, visit www.DebtAdvice.org.

This financial literacy month, get savvy. Everyone can benefit from more financial education.

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