To kick off Financial Literacy Month, the National Foundation for CreditCounseling and the Network Branded Prepaid Card Association haveunveiled the 2012 Financial Literacy Survey results.
|In its sixth year now, the annual survey revealed that consumersstill have a lot to learn when it comes to basic financial skills.The survey found that 56% of U.S. adults don't have a budget, morethan 77 million Americans don't pay all their bills on time and 39%of adults carry credit card debt over from month-to-month.
|In addition, two in five adults indicated they are saving lessthan they were one year ago and 39% don't have any non-retirementsavings.
|“Thisyear's survey unveiled some disturbing trends, showing that asignificant number of Americans are saving less, spending more, andcarrying credit card debt over from month-to-month, suggesting thatthe painful financial lessons of the past are quickly beingforgotten,” said Susan C. Keating, president/CEO of theNFCC.
|“Coupled with the two in five adults who gave themselves a C, D,or F on their knowledge of personal finance, the need for anincrease in financial education becomes not only clear, buturgent,” Keating said.
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