In 2004 the U.S. Senate established April as National Financial Literacy Month in an attempt to encourage Americans to be more proactive about their financial health and establish good financial habits.
To emphasize the ongoing importance of financial literacy, we want to share some alarming statistics about the current financial health of Texas families and individuals.
According to the Corporation for Enterprise Development’s 2015 Assets & Opportunity Scorecard, Texas is ranked at or near the bottom among all states on several important indicators of household financial health, including:
- High school degree completion (50th)
- Consumers with subprime credit (47th)
- Student loan default rate (44th)
- Unbanked households (41st)
- High number of low wage jobs (40th)
TSAHC is committed to reversing these trends and improving the housing and financial stability of our fellow Texans. We recommend the following resources that can help families and individuals buy a home, pay off their debt, start a business, and save for the future.
Texas Financial Toolbox (an online tool created by TSAHC to help Texas consumers locate high quality nonprofit housing and financial counselors in their area)
Hands on Banking (an online tool created by Wells Fargo to help Americans take control of their financial future)
Better Money Habits (an online resource created by Bank of America and Khan Academy to help Americans make confident financial decisions)
Jump$tart (provides financial literacy tools and resources geared toward students)
Thirty Steps to Financial Wellness (provides step-by-step resources to help Americans improve their financial well-being)
NeighborWorks America Consumer Finance Survey (results indicate that 1/3 of Americans have no emergency savings)
Center for Financial Services Innovation Consumer Financial Health Survey (results indicate more than half of Americans are struggling financially)
On the House blog posts are meant to provide general information on various housing-related issues, research and programs. We are not liable for any errors or inaccuracies in the information provided by blog sources. Furthermore, this blog is not legal advice and should not be used as a substitute for legal advice from a licensed professional attorney.