Treasurer

Making the Case for Financial Literacy

April 7 150x150 Making the Case for Financial LiteracyBy Treasurer David H. Lillard, Jr., Tennessee Department of Treasury

Over the last twenty years, households in the United States have noticed an increase in debt load and decrease in overall savings and retirement funding.  Many of these expenses are related to education for the Millennial generation and longer life expectancy for the Baby Boomer generation.  While higher lifetime income levels should offset the increasing costs, many people do not have the personal finance tools necessary to hedge the increasing cost for these expenses.  Studies conducted by the Financial Services Review in 2007 determined that personal finance is a topic that affects all career levels in all disciplines.  This study is especially relevant in Tennessee as our state has one of the highest average credit card debts at $7,054 per person and the highest per capital bankruptcy filings at 6.59 per 1,000 people. Read more…

POSTED: April 7, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , ,

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