Americans not confident in their ability to manage personal finances

Successful money management is all about having the knowledge and confidence to make good choices with your money. Those two elements go hand-in-hand: you need the knowledge to feel confident, but you also need to feel confident in your knowledge, otherwise you won’t trust yourself to make important decisions.

Unfortunately, a recent poll conducted by the National Foundation for Credit Counseling® (NFCC) found that the majority of respondents weren’t especially confident in their ability to manage their finances. In fact, over a quarter (26 percent) of those polled wish they didn’t have to deal with their finances at all. Meanwhile, only eight percent feel like they have what they consider to be a good grip on their personal finances.

Learning is a funny thing – a lot of people tend to think that learning is just a single stage in the entirety of our lifespan; that we learn for a bit, then we stop learning because we know what we need to know, and we go out and use that knowledge. But learning is a beginning to end process. We’re constantly learning, from the moment we’re born to the moment we die.

No one should feel bad about what they don’t know – and that goes double where finances are concerned. Very few schools teach basic financial education to young students, which means that it’s up to you, as an adult, to go out and get that information.

If you don’t feel confident in your financial knowledge that’s just your cue to go out there and get that financial knowledge. Fortunately, we can help you with that.

Our educators conduct online webinars covering topics that range from making the most of your credit to living a frugal lifestyle to managing student load debt and beyond. You don’t even need to leave your house. AND it’s free. We’re giving away a lot of great knowledge. You just need to show up and take it.

It’s okay to lack financial confidence, but there’s no excuse to stay that way. Browse our upcoming courses and consider signing up. The only thing you stand to lose is a little financial insecurity.

Jesse Campbell is the Content Manager at MMI, focused on creating and delivering valuable educational materials that help families through everyday and extraordinary financial challenges.

  • The Consumer Federation of America (CFA) is an association of nonprofit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education. Today, nearly 300 of these groups participate in the federation and govern it through their representatives on the organization's Board of Directors.

  • Since 2007, the Homeownership Preservation Foundation (HPF) has served as a trusted, neutral source of information for more than eight million homeowners. They are partnered with, and endorsed by, numerous major government agencies, including the U.S. Department of Housing and Urban Development and the Department of the Treasury.

  • The mission of the U.S. Department of Housing and Urban Development (HUD) is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD works to strengthen the housing market in order to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; and build inclusive and sustainable communities free from discrimination.

  • The Council on Accreditation (COA) is an international, independent, nonprofit, human service accrediting organization. Their mission is to partner with human service organizations worldwide to improve service delivery outcomes by developing, applying, and promoting accreditation standards.

  • The National Foundation for Credit Counseling® (NFCC®), founded in 1951, is the nation’s largest and longest-serving nonprofit financial counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services.