Why is Financial Literacy important?
Financial literacy is seriously lacking in every income group in
America. Family deficits, lack of savings and planning for retirement,
college student credit card debt, and students' poor performance on
finance-related tests indicate an emerging crisis.
- Only 25 percent of Americans feel that they are well informed about managing their personal finances.
- Americans spend $1.22 for every $1.00 they earn, according to the U.S. Commerce Department of Economic Analysis.
- 57 percent of households don’t have a budget.
- Social Security covers only 40 percent of retirement expenses for the average American.
- On average, you spend 12-18 percent more when you swipe your card than when you use cash
- The average student loan is $23,186. Americans collectively owe more than $875 billion on student loans.
Alarmed by these statistics, the accounting profession has pledged
the support of the country’s CPAs to help Americans become more
financially astute. The COCPA is working in conjunction with the
American Institute of CPAs’ financial literacy initiative to improve the
financial literacy of Americans.
Service We Offer:
Speakers Bureau: CPAs across Colorado are prepared to speak
for your audience. Whether it’s someone to speak on financial literacy;
tax, retirement, or estate planning; preparing for an audit; budgeting;
or any other finance-related topic, give the COCPA a call—we can help.
E-mail Liz Julin or call her at (303) 741-8607 or (800) 523-9082, ext. 107 for more information.
Why CPAs are the Right People to Help You
With so many competing voices in the financial industry, it is hard
to know who to trust. Amidst this confusion, the CPA profession offers a
higher standard that you can rely upon when you need help with your
finances. CPAs are highly educated, experienced, and continually
expanding their financial knowledge. CPAs are also required to maintain
high ethical standards. CPAs are more than just “bean counters,” they
are trusted advisors who go to great lengths to understand what’s
happening in the world around you, and help keep you on the right
track. We invite you to explore this site, knowing the content has
been created with you in mind. If you need a CPA, look at Find A CPA to further assist you with optimizing the financial side of your life.
The COCPA Financial Literacy Committee has developed programs to
promote financial literacy to women, children, and low income families
since 2005. The task force works in conjunction with the American
Institute of CPAs and the Ad Council to present programs on financial
education. Members of the task force are Colorado CPAs who believe in
financial education for all individuals from all walks of life.
For more information on how to volunteer please contact Liz Julin, (303) 741-8607 or (800) 523-9082, ext. 107.