Financial Literacy Survey Results
Findings of the third annual Financial Literacy Survey conducted by the National Foundation for Credit Counseling reinforces what TFCU has seen in the communities we serve. Families nationwide are struggling with personal finances and Generation Y adults, in particular, are facing challenges with money management, savings and debt.
According to the survey:
- 41 percent of U.S. adults gave themselves a grade of C, D or F on their knowledge of personal finance. This number is highest among Gen Y adults at 47 percent.
- 80 percent of adults agree they would benefit from advice and answers to everyday financial questions from a professional.
- Less than half of adults (42 percent) keep close track of their spending.
- One-third of adults report they have no savings.
Last year, TFCU set an initiative to be a premier provider of financial education to our members and in the communities we serve. As a member, you have access to these free education resources:
- Financial workshops conducted by TFCU staff at various locations. (For scheduled workshops, go towww.tinkerfcu.org and click on Financial Empowerment.)
- BALANCE Financial Fitness Program. As a TFCU member, you can call toll-free at 888-456-2227 for general financial information or personal financial counseling.
- BalanceTrack – 12 online learning modules that you can access through a link at www.tinkerfcu.org, Financial Empowerment.