The exchange for the debt economy
RMAi-Certified Debt BuyerSource: site
April is National Financial Literacy Month, and, as personal finance reporters, we can’t help but celebrate it.
It’s a time to sharpen our understanding of smart money habits and build greater financial awareness. For many people, personal finance wasn’t taught in school, making it something we figure out later in life. But the sooner you start learning how to manage your money well, the stronger — and richer — your financial future can be.
In fact, according to the National Financial Educators Council, a lack of financial knowledge costs the average American adult $948 a year (and billions more across the nation). It makes our jobs here at CNBC Select all the more meaningful.
Here are some more stats on financial literacy across our nation.
Remove inaccurate, negative information on your credit report with a credit repair company.
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
Credit Saint Credit Restoration
Highlights
Credit Saint offers three packages for credit repair services and a 90-day money-back guarantee for services. It has received an A rating and is accredited by the Better Business Bureau.
Let’s talk money: It’s Financial Literacy Month
✏️ 39 ✏️
Of the 50 states, 39 now require students to take a class in personal finance to graduate high school, according to the Council for Economic Education. And 22 states require a course in economics.
🤔 51% 🤔
When asked if they considered themselves knowledgeable about personal finances, 51% of U.S. News survey respondents said they’re “very” knowledgeable. However, out of that 51%, almost 60% thought carrying a balance boosts your credit score (it doesn’t) and about 44% don’t know the difference between a credit score and a credit report.
💰 $100,000 💰
Higher earners (annual HHI of $100,000+) are more likely to blame a lack of financial understanding for their poor money management (31%) than lower earners (23%), according to a Junior Achievement USA | Ipsos survey.
📊 53% 📊
Men outperformed women on the 2025 TIAA Institute-GFLEC Personal Finance Index, a national financial literacy benchmark, answering about 53% of questions correctly on average compared to 45% for women. More than one in five men (22%) demonstrate very high financial literacy, versus just 11% of women.
😬 92% 😬
Nearly all young adults (92%) say they’d change their college financial choices if given another chance, citing debt as a key factor, according to Earnest. And 16% say they wouldn’t have gone to college at all if they’d better understood student loans beforehand.
📚 65% 📚
Spending and budgeting top the list of most in-demand personal finance subjects at 65%, followed by saving (49%) and earning income (41%), per the National Endowment for Financial Education. Managing credit (39%) and investing (35%) round out the top five.
Subscribe to the CNBC Select Newsletter!
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every newsletter is based on rigorous reporting by our team of expert writers and editors. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Catch up on CNBC Select’s in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
Upcoming Events
The exchange for the debt economy