Dollars and Sense

DOLLARS AND SENSE Nearly half of adults say their savings situation is their biggest concern; financial literacy of U.S. high school students is historically low; and only about a third of people have a long-term plan for savings and investment goals. All at a time when we're working longer hours for LESS money. Let's explore how wise Americans are - or aren't-when it comes to money. HANDLING HOUSEHOLD FINANCES 2 in 3 Adults who don't prepare written or digital household budget Those who prepare budgets. 38% . by educational level 26% High school or less College grads . by political leanings 35% 33% 29% Spending less compared to previous year Conservative Moderate Liberal 57% ... by household income 51% 39% 30% 32% 42% 39% 32% 2009 2010 2011 2012 2013 $75,000+ $30,000-$75,000 $30,000 Adults who don't pay all of their bills on time GOAL GOAL GOAL 2012 33% 2013 26% Only 3 in 10 inn Americans who keep a long-term MONEY TROUBLES PERSIST How financial stress affects everyday life*: TIHE UNITED STATES OF AMERICA 43% U.S. adults who say not having enough in emergency savings is their biggest worry Sleeping less 47% Less patience/seeing friends less often X 43% 31% Eating more junk food/gaining weight Arguing more with Spo eniant 21% other Getting sick more often 17% * Among those who said money troubles had them very stressed out TEENS AND MONEY lin 3 81% Teens who don't have a checking account Teens who have a summer job 100 107 141 Only in 10 Teens who are involved in helping pay household bills or managing household budget What they already know IN GOD 52% 60% 66% 60% 57% How to write a check LIBERT How to shop for the best deal Teens who say they want to learn how to manage their money Difference between debit cards and credit cards How to budget 38% 35% 31% 31% 22% 17% How to establish good credit How to balance a checkbook How credit card interest and fees work What a credit Score is %2$ How income taxes work What a 401(k) is Interested in personal finance topics 57% 35% 80% 75% 68% 67% (F of parents with kids in high school or college give schools below-average grades in teaching responsible spending. give schools an Fin financial Literacy. Checking accounts Budgeting Saving Investing WHAT STATES REQUIRE IN PERSONAL FINANCE INSTRUCTION Only 3 states require high school courses devoted entirely to personal finance. WA MT VT ME ND NH NY OR MA ID WI SD WY MI RI CT NJ PA NE IA NV IL IN OH UT DE CA CO KS VA MD MO KY NC TN Ок SC AZ NM AR MS AL GA LA TX FL AK States requiring personal finance education incorporated into other subject matter Requires at least a one-semester course devoted to personal finance No requirements, although personal finance may be taught as an elective. ttps://www.atc.org/hewsroom/Financialliteracy ies2013/NFCC NBPCA 20120Finandialt.iteracy survey datasheet key20findings 032913pat bttp://www.aboutschrwab.com/images/press/teens htt://www.gallup.com/pol/162872 ane three americans prepare detailedhousehold budgetasp http://www.pmewswire.com SOURCES /bout americanexpress.com/news/pe/2011Aafespendasp http://www.jumpstartorghtate nancialeducationequirements.htnl ensmoneyfactsheet.pdf http://www.aicpa.og/press/pressreleases/2013/pages/aicpa survey meney stress taking tal aspa http:/ online-accounting-degrees.net