Consumers Can Expand Their Financial Knowledge
FORT LAUDERDALE, FL–(Marketwired – Apr 13, 2015) – National Financial Literacy Month is recognized in the United States in April and in an effort to highlight the importance of financial literacy, Consolidated Credit is offering Free Financial Literacy Resources to teach Americans how to establish and maintain healthy financial habits.
Lack of financial education comes with a hefty price tag. In total, American consumers owe $882.6 billion in credit card debt, according to American Household Credit Card Debt Statistics: 2014. About 70 percent of 2013 graduates left college with an average of $28,400 in debt (http://ticas.org). In the Latino community, according to National Council of La Raza (NCLR www.nclr.org), many families have turned to credit cards to make up for lost income and purchase everyday necessities.
Similar to white and African American households, 43% of Latinos report using their credit cards to pay for basic living expenses such as rent, mortgage payments, groceries, utilities or insurance in the past year because they did not have enough money in their checking or savings accounts.
"The lack of financial education is a pivotal reason behind financial instability and money problems," said Gary Herman, President at ConsolidatedCredit.org. "During National Financial Literacy Month, we want to make sure consumers expand their financial knowledge and have access to reliable financial resources."
With that in mind, Consolidated Credit offers an assortment of free resources to help you build basic financial literacy for you and your family.
Financial Literacy Test
A simple 20-question financial literacy test to find out if you really know what you need to know to maintain stability in your daily life even in the face of financial challenges. Learn more.
Financial Literacy Statistics
While some statistics seem to suggest Americans may be struggling as a result of a lack of financial education, statistical data like the one offered by Consolidated Credit shows some encouraging trends in the progress we're making at expanding our knowledge. Learn more.
Financial Literacy Month 30-Day Check List
Consolidated Credit helps you make a plan to achieve a better understanding of your finances so that you may establish the foundation you need to be successful. Learn more.
Although financial literacy is only spotlighted in the month of April, experts at Consolidated Credit advise to take the initiative this National Financial Literacy Month to not only take control of your personal finances, but spread knowledge and talk with your kids and family about money management skills, how to pay off debt, save and budget.
For more information on National Financial Literacy Month visit ConsolidatedCredit.org and ConsumerFinance.gov. For information in Spanish visit espanol.consolidatedcredit.org, www.facebook.com/ConsolidarCredito or call 1-800-996-7989.
About Consolidated Credit: Consolidated Credit (http://www.consolidatedcredit.org) is one of the nation's largest credit counseling agencies and has helped over 5 million people over more than 20 years with financial issues. Their mission is to assist families throughout the United States in ending financial crisis and solving money management problems through education and professional counseling.