On this week's blog we will be highlighting some great writing that was published recently about the importance of the work we do here at IIG in support of Financial Literacy.
The first article is from Investopedia where they cover why current trends make having financial literacy even more important than previous times and share some interesting statistics.
In past generations, cash was used for most daily purchases; today, it's rarely flashed - particularly not by younger shoppers. The way we shop has changed as well. Online shopping has become the top choice for many, creating ample opportunities to use and overextend credit - an all-too-easy way to accumulate debt, and fast.
The second article is from Forbes and shares statistics that highlight the negative impacts not being financially literate is having on many Americans.
Do you work hard every day but still don't feel like your finances reflect your grind? You're not alone. 44% of adults don't have enough cash to cover a $400 emergency. But just how bad is financial literacy in America? Here are four alarming stats that could be improved with the right education.