Is the key to Happiness found in a dollar bill? While we certainly do not believe so, we do believe that money can make life easier and certainly more enjoyable. The following Empower article contains a great deal of valuable statistics on finance, and its effect on our lives….and most importantly, our happiness. Read on for the full story.
Financial Literacy is defined as “the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being. (President’s Advisory Council of Financial Literacy)
Did you know that a 2022 financial literacy test demonstrated that US adults only correctly answered 50% of the questions correctly? And 18% of adults only answered 75% correctly? (TIAA Institute – PFIN paper – Yakobowski, Lusardi and Hasler)
To put this in context – approximately 82% of Americans failed or did very poorly on the test.
Do you want your kids to fall into this group? Or would you like to set them on a better path?