Millennials & Financial Literacy Skills

            As a millennial, I understand and agree when my parents and grandparents say my generation doesn’t have many of the technical skills that older generations do. This is especially true for financial literacy skills. Like many of my peers, my financial skills and knowledge came from my parents and a singular basic economics class in high school. I know how to balance a checkbook and understand interest, but not much more. This base knowledge is hardly enough to understand finances, as I am quickly learning. 

            Recently there has been an increased focus on improving young Americans’ low levels of financial understanding, especially with the country saddled with $1.5 trillion in student-loan debt. Additionally, with the country in almost $14 trillion in consumer debt, it is our job as the next generation to be prepared for any financial crisis our country may face and make a positive impact for the future.  

            It’s not only important to understand finances for yourself, but also get a professional outlook on how you’re investing and saving. There is no person better for the job than Graeme Woods here at G.S. Woods Financial Solutions LLC! Contact us today to begin setting up your financial plans for the future. 

 

Written By: Cady Ruth Stoever, G.S. Woods Financial Solutions LLC Marketing and Communications Associate

Source: https://www.marketwatch.com/story/americans-financial-literacy-skills-have-plummeted-since-the-great-recession-2019-06-26?mod=personal-finance

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