Financial Literacy

The CSCPA Financial Literacy Committee has been developing programs to promote financial literacy in Colorado since 2005. The following information will tell you what we’ve accomplished over the past several years; the resources available for any member of the CSCPA to use for you own presentations; and the organizations with which we are currently partnering.

 What we Have Accomplished

Resources

Partner Organizations

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 CSCPA is working in conjunction with the American Institute of CPAs’ financial literacy initiative to improve the financial literacy of Americans.

How to Volunteer

The CSCPA 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. We want you to join us in promoting financial education for all individuals from all walks of life. Examples of ways to get involved include:

• Being a presenter in one of our ongoing programs
• Offer a lunchtime training at your work
• Joining a local chapter initiative to promote financial literacy
• Teaching financial literacy in schools
• Partnering with an organization to promote financial literacy to their members
• Assist in content development
• Volunteer as a member of the Financial Literacy Committee at the CSCPA

For additional information on how to get involved, contact Liz Julin, (303) 741-8607 or (800) 523-9082, ext. 107.

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