Financial literacy is important. According to CNBC, 77% of Americans are anxious about their financial situation. Intuit tells us 65% of Americans have no idea how much they spent last month. Only 32% of American households have a budget for the month. If employees cannot make ends meet, whoever offers them more money will get their loyalty. Trained employees will jump from job to job. Knowing how to live within your means is important.

Our American culture does not help get this message across. If consumer spending is almost 70% of GDP, the economy needs people to spend, spend and spend some more to keep the numbers up. This is not limited to people making at or near the minimum wage. CNBC reported not only are 63% of Americans are living paycheck to paycheck, 47% of Americans with six figure incomes are doing the same. The need for financial literacy extends across the earning spectrum.

Once upon a time, talking about money was simply not done. Then came the popularity of investing and the financial news channels on cable TV. What people do with money became a spectator sport. The problem of not knowing how to manage money became compounded because of bad advice.

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