The Importance of Financial Literacy
Financial Literacy IS important, no matter what age group you belong to, whether you are just starting 5th grade, funding your college education, planning for a family or retiring. Financial Literacy will help you achieve your goals whether they are to own your own business, raise a family, or to retire to a desert island.
- How many American households filed for bankruptcy in 2005?
- About one in every 53 households file for bankruptcy, according to Lundquist Consulting, an industry group that tracks bankruptcy statistics. [http://money.cnn.com/2006/01/11/pf/personal_bankruptcy/]
Financial literacy may not prevent bankruptcy, but it will give you better tools to make wiser financial decisions.
The American Institute of Certified Public Accountants developed a site www.360financialliteracy.org, with articles and tools appropriate for different stages in life, from childhood through retirement and estate planning.
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