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Parent and child hands hold a wooden house toy

*This is part 5 of 9 from The Urban Difference: Report 2019

Piggy bank.

Piggy bank. Photo credit: iStock image by artisteer

Financial literacy enables consumers to tackle debt, save money, and make smart financial investments.

The 2020 TIAA Institute-GFLEC Personal Finance Index (P-Fin Index study conducted by the Global Financial Literacy Excellence Center and TIAA on financial literacy), reports that a little more than half of Americans still live paycheck-to-paycheck and are uncomfortable with financial concepts and practices. Many of these Americans also continue to wallow in financial debt that prohibits them reaching their financial goals. Financial literacy and money management education enables individuals to understand key financial terms and to make wise money management decisions.

The FLIP: Financial Literacy in Progress series helps consumers develop wise buying habits, good credit, a spending plan, and strategies to avoid fraud and reduce debt. In 2019, 317 participants that completed the four-lesson series learned how to develop financial goals, identify financial leaks, and create and reconcile a spending plan. In addition, 601 program participants completed a credit report for the first time and 208 program participants were trained to use PowerPay, a debt elimination software program.

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Part 1 – The Urban Difference: Report 2019, From the Administrators
Part 2 – The Urban Difference: Report 2019, Alabama 4-H and Youth Development
Part 3 – The Urban Difference: Report 2019, Animal Science and Forages
Part 4 – The Urban Difference: Report 2019, Community Resource Development
Part 5 – The Urban Difference: Report 2019, Consumer Sciences and Personal Financial Management
Part 6 – The Urban Difference: Report 2019, Family and Child Development
Part 7 – The Urban Difference: Report 2019, Forestry, Wildlife, and Natural Resources
Part 8 – The Urban Difference: Report 2019, Home Grounds, Gardens and Home Pests
Part 9 – The Urban Difference: Report 2019, Human Nutrition, Diet and Health


Download a PDF of The Urban Difference: Report 2019, UNP-2175. 

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