Financial Literacy Month - 101 Financial

Good morning, gang. April is Financial Literacy Month, and for good reason. Most Americans are struggling and stressing when it comes to their financial lives. According to NerdWallet, Americans carry over $931 billion in credit card debt. That's an average of almost $16,000 per household. The national average for mortgages is $178,000, over $27,000 in auto loans, and $47,000 in student loan debt. On top of that, 65% of adults do not have a budget, and 50% of Americans have less than 1 month of emergency funds. Now, a strong case for financial literacy is found in a recent study by TIAA, which found that those with high financial literacy plan for their retirement and have double the wealth of those with low financial literacy. Another argument for financial education? is that those with financial literacy have more confidence and will make better financial decisions over their lifetime when compared to those without it. So gang, I suggest that you pick up a book on money this month and make it a priority to learn and empower yourself now and well into the future. For Wake Up Today, I'm Alan Akina. See you on Monday.