What is Financial Literacy Month

Financial Literacy Month occurs every year in April – and this month, Speedy Cash wants to help spread the awareness! This initiative was started in 2003 by the U.S. Government in an effort to improve financial literacy in the nation as well as provide Americans access to responsible financial services and products. With Financial Literacy Month upon us, it’s important to gain and maintain financial education. Speedy Cash is here to help you, and your family, reach the financial stability you want to achieve!

Our economy can seem like a whirlwind at times – spiraling families into debt, foreclosure, or even bankruptcy. Gaining your personal financial literacy is essential to help you and your family prevent, avoid, and solve these financial struggles.

Here are some important facts to consider this month, compiled by Money Management International:

More than 2 in 5 adults (43%) now keep a close track on their spending, but more than half (65%) still do not have a budget. (Source: NFCC Financial Literacy Survey, 2010)

Nearly 28% of adults do not pay all their bills on time. (Source: NFCC Financial Literacy Survey, 2010)

The U.S.credit card 60-day delinquency rate is 3.23%. (Source: Fitch Ratings, 2011)

50% of Americans have less than one month of emergency savings, and 28% have less than 2 weeks’ expenses saved. (Source: Mybanktracker.com, 2010)

Speedy Cash has compiled helpful tools and tips to get you on the right track to financial stability. Learning basic financial terms, finding your budget type, and developing SMART financial goals might be solutions you need to jumpstart your financial progress!

Use these facts to empower yourself and those around you to gain the knowledge needed to become financially successful!

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