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Reframing the Importance of personal financial literacy
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Take a look inside any successful, growing company and you’ll see that the business owner or CEO has spent countless hours on thoughtful, detailed planning to get there. As part of the overall business plan, they’ve also put people and systems in place to sufficiently manage the company’s financial health. Without knowing the assets, fixed and operating costs, expenses and day-to-day cash flow, the operation of a business would eventually derail.

The same can be said for our personal finances. You wouldn’t expect your company to succeed without attention and planning, so why should you expect your personal finances to thrive without the same care?
Read more from Business Vancouver

      

If you’re reading this story, then you’re already ahead of the curve. That’s because adults and teenagers in the U.S. – and worldwide – are enormously ignorant when it comes to financial literacy. They struggle to understand basic concepts such as how interest works, why inflation matters and how to evaluate investment risks.

That ignorance is worrying, experts say. “There’s a lot of money to be made on bad [financial] decisions,” says Billy Hensley, senior director of education with the National Endowment for Financial Education, a Denver-based foundation focused on improving financial literacy. “There are predators out there who want you to make poor financial choices so their bottom lines go up.”

Want to make the grade when it comes to financial literacy? You should. Here are five concerning statistics about financial literacy … and how to avoid becoming one.   Read more at U.S. News and World Report

Click here for links and useful resources on financial literacy
The PFW Scale™ is an effective way to evaluate employee financial stress. Click here to learn how your organization can benefit by using the Personal Financial Wellness Scale™
Personal Financial Employee Education Fund (PFEEF)
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