Sunday, April 6, 2014
April is Financial Literacy Month and many adults need more of it according to a new survey:
The National Foundation for Credit Counseling found that 61% of U.S. adults do not have a budget. Other worrisome findings include 34% of households carrying month-to-month credit card debt, 60% not checking their credit score in the last year, and 41% grading themselves a “C” or lower in financial literacy.
Those who are a part of the budget-less 61% should take these three simple steps to begin creating a plan for where their money is best spent:
- Determine monthly net pay.
- List major expenses.
- Track discretionary spending.
See Libby Kane, 61% of US Adults Don’t Keep Track of Their Money, Business Insider, Apr. 2, 2014.