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Money Facts – Information is Power


If someone were to ask me what is my passion? My answer would be Money Facts, OK so I use my own word to describe what is known as finances. With out a doubt it is a subject that may terrify many of us but I feel is essential to our societies strength.

Finance is a passion I discovered while working in the financial industry. I was able to learn from a lot of savvy people in this industry. As well as experience first hand through customer interactions how much we lack vital information on this subject. Through the knowledge I have obtained I now look forward to helping others in learning how important this knowledge is for our society & how much it is being neglected.

Why Is Financial Literacy Important?

My take on finances is the system that includes the circulation of money, the granting of credit, the making of investments, and the provision of banking facilities or the management of funds. It's what makes this world go round yet for some strange reason we are not taught lessons on this subject while in school. We are left to fend for ourselves & what's worse is we do not like talking about it. I do not mean that in a general way but in the way of households. In a study done by Charles Schwab it was determined that most parents feel more comfortable talking about the "birds & the bees" than on investing. Let's face it the majority of us were never even aware of how much our parents knew about finances until we got older. From experience I can tell you that only a handful of the customers I've met were being assisted through the banking process by their parents.

Let's Talk Numbers

Foreclosures are up 57 percent over last year, consumer credit card debt is increasing at an annual rate of 6 percent. Americans' savings will replace less than 60 percent of their income on average after retirement. Research shows that about 3 in 4 workers do not know how much money they need to save for a comfortable retirement. The Jump $ tart Coalition for Personal Financial Literacy tests 12th graders every two years by asking them practical money questions. The students consistently record an average score of 50 to 55 percent, generally considered to be a failing grade. This results in college students, who have the ability to get a hold of new credit cards with great ease, ending up in major debt. The average debt owed on credit cards in America is $ 8000, & the average American has 9 credit cards. Here is a big number America spends more than $ 4 billion dollars in excess a DAY! Inflation is still rising & our dollar is losing its value faster than ever. Not only is personal finance at an all time low but our own country is headed in the same direction.

The truth is that basic finances skills are very easy. But in my humble opinion it should start at home. We need to recondition our thinking as well as continue our own personal education. Nowadays you are able to find information on financial literacy a lot easier than say 5yrs ago. I feel very strongly towards this subject & I feel all Americans should be concerned with this crisis. We need to understand that the economic status our country is in is just as important as being environmentally safe. Not only should we put more emphasis on this subject but we should also be seeking out the knowledge ourselves.

In Summary

Our economy is on very shaky ground which we all play a crucible role in. We must empower both ourselves & our children on what I like to call Money Facts. The average consumer needs the proper information about every aspect of their finances. Weather it be credit or personal money management. Not to mention retirement, investments & of course banking. I encourage you to take the necessary steps to ensure you continue financial education as well as passing that knowledge along to your family. Keep in mind that this is a crisis that is affecting all Americans & that needs to be addressed.

My goal now is to get people involved in their own education.


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