WHO we are
Financial Literacy Council of Greater Hamilton County is a non-profit organization whose goals are aimed at helping individuals and families of Hamilton County, Iowa to gain understanding of financial components and skills such as budgeting, investing, borrowing, taxation, and personal financial management. These skills will allow you to gain knowledge to make smart decisions about money and debt.
In 2018 we unveiled the Availa Kares College Savings Program, a 529 College Savings Plan for each student that completes Kindergarten at a Hamilton County school!
Importance of Financial Literacy
Obtaining financial literacy is one of the most important things an individual can do to ensure prolonged financial stability.
Listed below are some real-world facts that should emphasize the overall importance of attaining financial literacy.
- It is estimated that about 78% of Americans live paycheck to paycheck.
- More than 189 million of the American population own credit cards.
- On average, credit card owners own about four cards each.
- Student loan debt is about $1.5 trillion for more than 44 million borrowers.
- Credit card debt levels are at a record high of $1.04 trillion.
- Overall, Americans are approximately $12.58 trillion in debt.
The statistics depicted above should illuminate why financial literacy is paramount in today’s financial climate.
Benefits of Financial Literacy
Being financially literate is a skill that brings forth an assortment of benefits that can improve the standard of living for individuals through an increase in financial stability.
Listed below are the assortment of benefits of being financially literate:
- Ability to make better financial decisions
- Effective management of money and debt
- Greater equipped to reach financial goals
- Reduction of expenses through better regulation
- Less financial stress and anxiety
- Increase in ethical decision-making when selecting insurance, loans, investments, and using a credit card
- Effective creation of a structured budget
Making steps to becoming financially literate is an important component of life that can ensure financial solidity, reduce anxiety, and stimulate the achievement of financial goals.
Our Partners
