WORKSHOPS CLASS
“The number one problem in today’s generation and economy is the lack of financial literacy.”
-Alan Greenspan (1926)
A LACK OF EDUCATION
Financial challenges are seriously being face by North Americans. According to recent survey, 35% of Canadians do not have any savings or investments. 33% of Americans do not pay their bills on time.
“It’s ironic that we live in one of the wealthiest countries in the world, but we always have money problems. We can work hard all our lives but retire poor. We don’t have much, and we don’t know much. Nobody teaches us how to manage our money in school. Financial issues are not often discussed and financial products not always explained.”
ACCORDING TO RECENT SURVEYS
In Canada:
35% of Canadians do not have any savings or investments.
Only 27% of private sector workers have an employer-funded pension plan
The average savings in a Registered Retirement Savings Plans (RRSP) is only $55,000.
In U.S:
More than 77 million Americans don’t pay their bills on time.
39% of carry credit card debts from month to month.
Only 59% of adults say they have savings.
Sources: SAVING YOUR FUTURE book
http://abclifeliteracy.ca/mm/financial-literacy-facts
http://www.creditcards.com/credit-card-news/consumer-financial-literacy-survey-1276.php
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