Finance

Why is Financial Education Important?

This is the excerpt for your very first post.

W e will begin our journey with nostalgia – reminiscing on our memories of kindergarten, but more importantly the beginning of our educational journey. You were only five years old and began an immersion of knowledge to prepare you for lifelong success.

Perhaps our fondest memory of kindergarten is learning AND taking naps? Nevertheless, it is an important milestone that marks the journey of fulfilling life’s biggest question – What do I want to be when I grow up? (I’m still trying to figure that out myself as a write this…).


As we progress through school, our educators provide us with classes on science, history, mathematics, and English. Our coursework teaches us about biology, American History, the quadratic formula (Remember that?!), and Shakespeare. While these courses are important, there is a subject that does not seem to get any attention – financial education.

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What about a course on how to invest our money, prepare a tax return, how to purchase a home, create a budget, or save for retirement? Don’t get me wrong, it’s important to learn about biology, but don’t you think we should also learn how to make smart financial decisions that impacts our lives?

Financial education is vital for our well-being as highlighted by the following evidence:

  • 44% of individuals cannot meet an unexpected $400 expense1
  • Less than 33% of adults have been offered financial education at high school, college or the workplace
  • Nearly 50% of American households over 55 have no retirement savings2
  • 1 in 4 people reported losses over $30,00 due to lack of financial knowledge3

The evidence indicates that financial education is a void that needs to be filled in our communities.

Finch was established to help YOU!

We are here to provide you with financial education you never received – let us help you become savvy at managing your wealth.


References:

  1. https://www.treasury.gov/resource-center/financial-education/Documents/National%20Strategy%202016%20Update.pdf
  2. http://www.epi.org/publication/retirement-in-america/#charts
  3. https://www.cnbc.com/2017/04/13/if-you-lost-only-30000-to-these-money-mistakes-count-yourself-lucky.html