Financial Literacy by the Numbers

Source: http://www.lemonadeproject.tk

Source: http://www.lemonadeproject.tk

With over $15 trillion in debt, the American government is certainly burdened by its finances. But it's not only the American government that struggles with personal finance management.

According to the Survey of Consumer Finances conducted by the Federal Reserve Board in 2007, half of Americans do not maintain a budget. What's more, 1 in 9 Americans ages 18-24 spend forty percent of their income to pay off debt.

Perhaps most alarming, however, is the fact that 1 in 5 Americans live beyond his or her means. Are you smarter than that fifth American?

Bankruptcy and financial ruin are serious problems. But don't let it become your problem.

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