How Financial Literacy Improves Our Lives


Having knowledge about money can greatly impact our lives for the better. Don’t take it from us; here is documented research from reputable sources showing the positive effects financial literacy can have.

Individuals working in the financial industry are 14.9% less likely to default than borrowers from the non-financial industry.

(Sumit Agarwal-National University of Singapore, Souphala Chomsisengphet-Office of the Comptroller of the Currency-Yunqi Zhang, National University of Singapore April 2015)

Individuals who have difficulties dealing with numbers seem to be riskier.

(Kristopher Gerardi † FRB Atlanta, Lorenz Goette ‡ University of Lausanne October 17, 2010)

More intensive financial education could improve financial decisions later in life.

(Agarwal et al. 2010 and Bernheim and Garrett 2003)

Seminar-style financial education programs have a statistically and economically significant effect on retirement plan participation. Non-highly-compensated employees who worked for employers that offered frequent seminars had participation rates 11.5 percentage points higher than those whose employers offered no seminars.

(William G. Gale and Ruth Levine October 2010)

Money is the number-one cause of stress for Americans.

(American Psychological Association  2016)

Over 4% of individuals were turned down for job or promotion due to their financial background.

(National Financial Educators Council) (NFEC)

Over 51% of young adults think that Personal Finance would be the most beneficial course to their personal lives.

(National Financial Educators Council) (NFEC)

There are notable improvements in credit outcomes for young adults who take personal finance courses in high school. There is a significant increase (as much as 5.2 percent) in student credit scores only two years after they get their financial literacy education and a statistically significant decrease (as much as 8.4 percent) in the number of students who were 90 or more days delinquent on credit card payments after only one year. If teaching kids financial literacy in high school can have this kind of effect after only a short period of time, imagine the effect that a thorough financial education nationwide could have on future generations.

(Financial Industry Regulatory Authority) (FINRA) 2015

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Hi! I’m Kat.  I work for Rena-Fi, Inc. I’ve been here since its inception.  I actually filed all the corporate paperwork, so you could say I’ve been here since before the beginning.

I may have some fancy titles, but I’m really and truly just a regular middle-class American gal. I’ve been through some financial hardships and that’s what I’m bringing to the table today in order to relate to you, not about my job, but my struggle with money.


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