(12/13/10) One in five (20%) Americans spend more than they earn. Most (60%) don't have any rainy day funds. And about a quarter (24%) use non-bank loans. These were just some of the findings in a nationwide survey conducted by the Financial Industry Regulatory Authority
The study underlines the need for financial literacy efforts that many credit unions offer. (See below for free financial education tools from CPFCU.)
FINRA launched an interactive Web resource to display the results of the study, which it calls America's first state-by-state financial capability survey. The new website displays a clickable map of the U.S. and allows the public, policymakers and researchers to delve into and compare the financial capabilities of Americans in every state and geographic region.
Coosa Pines FCU offers free financial education resources such as Anytime Adviser, with interactive financial coaches on Checking Accounts, Credit Management, Couples & Money, and more.
MoneyMix for young adults offers blogs on Earning, Spending, Borrowing, Investing, Driving, Housing and Insuring.