ICFE Provides Financial Education, Continuing Education Credits, CEUs, CEs, Free Credit Repair, Bankruptcy Education and Financial Planning for All Age Groups.
Home Tell a Friend! Contact ICFE Link Exchange Search ICFE Subscribe ICFE About the ICFE
ICFE News Releases ICFE in the News Children and Money Financial Education Personal Financial Counseling with Paul S. Richard, RFC Credit Card Tips Credit File Correction Mending Spending Links and Resources Order Options
 

ICFE
ICFE eNEWS #19-24 - August 2019

Financial Wellness By The Numbers

From Personal Financial Employee Education Fund (PFEEF), Franklin, TN

Here are some numbers that measure financial wellness in the U.S.

    •The U.S. ranks 14th globally in terms of financial literacy
    •With a 57% literacy, the U.S. beats Botswana (52%) but gets edged out by countries like Germany (66%) or Canada (68%)
    •Only 16.4% of U.S. students are required to take a personal finance class in schools
    •76% of millennials lack basic financial knowledge
    •Between 2009-2015, Americans got worse at answering five key personal finance questions posed by FINRA – a major U.S. financial regulator

And worse, this lack of knowledge is translating into anxiety and even fear.

    •Four of five adults say they were never given the opportunity to learn about personal finance
    •70% of millennials are stressed and anxious about saving for retirement
    •22% of millennials feel overwhelmed about their finances
    •13% of millennials feel scared regarding their financial future

Meanwhile, student and credit care debt is soaring to new highs.

    •The average US household owes about $135,768 in debts.
    •The average household with credit card debt will pay roughly $1,141 in interest per year.
    •Average student loan debt total per person: $31,172
    •Average monthly student loan payment for graduates: $393
    •Total student loan debt in the U.S.: $1.52 trillion
    •Time to pay off student debt: 10 to 30 years

More statistics on the financial health of Americans from the latest academic research.



Paul S Richard PhotoICFE eNEWS is available FREE upon request by visiting our Web site and filling out the contact form, and selecting "Yes" for "Add to Mailing List. Please pass this eNEWS on to your peers and interested others and invite them to subscribe for free. Also, visit the ICFE's new Web site: StudentDebtHelp.org

Sent by:

Paul S. Richard
President - Executive Director
Institute of Consumer Financial Education (ICFE)

About the ICFE:

The Institute of Consumer Financial Education (ICFE) was founded in 1982 by the late Loren Dunton (creator of the Certified Financial Planner (CFP) designation and founder of the College for Financial Planning in Denver, CO.) The ICFE is dedicated to helping consumers of all ages to improve their spending practices, increase savings and use credit more wisely.

The ICFE is an award winning, nonprofit, consumer education organization that has helped millions of people through its financial continuing education courses programs and resources. In addition to eight Certification courses covering identity theft, credit files, credit repair and credit scoring, among others, it also publishes the Do-It-Yourself Credit File correction Guide, which is updated annually. The ICFE has distributed over one million Credit/Debit Card Warning Labels and Credit/Debit Card Sleeves world wide.

The ICFE is a partner with the national Jump$tart Coalition for Financial Literacy and the California Jump$tart chapter. The ICFE staff is also active with San Diego Saves and Military Saves, both offshoots of America Saves.

The ICFE is also an on-line help for consumers who spend too much. ICFE's spending help was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from the ICFE's Money Instruction Book, our course in personal finance.

The ICFE helps consumers and students with mending spending, learning about the proper use of credit, budget and expense guidelines, how to set up and implement a spending-plan and also how to access financial education courses and how to teach children about money. Other ICFE services include: Ask Mr. G library, a free eNews service, and an online resource center for students, parents and educators, plus financial education learning tools in the ICFE Book Store.

Home ] ICFE News Releases ] ICFE in the News ] Children and Money ] Financial Education ] Resource Center ] Credit Card Tips ][ Credit File Correction ] Mending Spending ] Links and Resources ]  [ Online Store ]

 

Copyright ©  1997 - by Paul S. Richard
and the Institute of Consumer Financial Education, All Rights Reserved.
View our
Privacy Policy Our Terms and Conditions

Institute of Consumer Financial Education
PO Box 34070
San Diego, Ca 92163
Paul S. Richard, Executive Director
Phone 619-239-1401

FAX 619-923-3284

Questions for www.financial-education-icfe.org Click to go to Website Contact Us or 

Website Design Donated by Daniel G Hughes Fresno and Half Price Toner Refills

Please Tell An Associate, Friend or Family Member About the ICFE