Throughout the years, whether it’s in Kindergarten, High School, College, or as an adult, we often look back at our toughest experiences. Many of those tough experiences have one thing in common: money (or financial literacy). When faced with these kinds of tough financial situations many of us think things like:
“If only I had known how to budget earlier, I would not be so far behind financially.”
“I wish somebody would have shown me how to responsibly handle a credit card.”
“I wish I saved more!”

Financial Literacy, unfortunately, is not a topic that is focused on in standard American education. Many may believe that it’s their fault that they are not literate when it comes to their personal finances. The truth is many Americans struggle with financial literacy because of the lack of exposure to proper money management. The 2012 Financial Literacy Survey states that almost 40% of adults learned their basic money management skills on their own. It also states that most adults wish that they had received a formal financial education. Since being financially literate is not a common goal of many Americans, money management had become a problem many American’s face.
Financial Literacy in the United States
Following are 5 startling facts about Financial Literacy in the United States:- Two in five U.S. Adults gave themselves a C, D, or F on their knowledge of personal finance
- 56% of adults admit that they DO NOT have a budget
- The average adult has over $15,000 in Credit Card Debt
- The average student has over $32,000 in debt
- At least half of Americans have less than $500 in Savings
- Work to become financially literate
- Start a new legacy by teaching the next generation or encouraging them to learn financial literacy (i.e. son, daughter, cousin, friend, mentee, or etc.)