Our Commitment to Financial Literacy |
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Clifton Gunderson is committed to improving the financial literacy of all Americans
Teaching America Financial Literacy
Senior Executive Partner Carl George has made it his mission to attack financial literary head on. Watch this video showing Carl’s passion to raise awareness of financial literacy as he was honored with the AICPA Special Recognition Award.
Financial literacy is “the ability to effectively evaluate and manage one’s finances in order to make prudent decisions towards reaching life’s goals.” However, we have a huge financial illiteracy problem in the United States. The economic crisis in America has brought to light our urgent need to enhance our personal finance skills. Just look at the statistics—
- The average American family spends $1.22 for every dollar earned
- The average credit card debt per household was $8,329 at the end of 2008
- 61% of Americans are living paycheck to paycheck, up from 49% in 2008 and 43% in 2007
- More than one in five of those earning $100k or more still live paycheck to paycheck
- Students graduate with an average of $23,186 in student loan debt and $4,100 credit card debt
- 50% of Americans have less than one month of earnings saved for emergencies
What is the result of this lack of basic financial knowledge and planning? Nearly 60 percent of Americans will fail to realize one of their major life goals—things like owning a home or paying for a child’s college education.
That’s why Clifton Gunderson wants to help make a difference, and is a strong and active supporter of financial literacy programs such as 360 Degrees of Financial Literacy. Sponsored by the American Institute of Certified Public Accountants,360 Degrees of Financial Literacy provides planning tools, articles and information to help consumers make better financial decisions at every stage of life.
AICPA and the Ad Council also sponsor Feed the Pig, a multi-media campaign to encourage more savings and less debt accumulation among young adults.
Learn more about financial education resources and volunteer opportunities at: www.360financialliteracy.org and www.feedthepig.org.