Aug
19
2009
Penny Johnson: Millions of Us Should Make Financial Literacy a Priority
Posted by Carolyn Spohrer at 1:36 PM Financial Education | Press Releases
Penny Johnson, Wachovia VP and Senior Community Development officer recently was a guest columnist for the Richmond Times Dispatch. She writes:
"Like many Americans, I did not receive any
formal education on how to manage money. From cradle to college to
corporate America, I did what most Americans do -- I spent far more
than I saved. A 2007 survey of 2,000-plus Americans by the Consumer Federation of
America found that half of Americans (52 percent) say they are not
saving adequately. Of those surveyed, 17 percent say they can't afford
to save at all, while 35 percent say they are saving but not enough to
meet shortand long-term financial needs."