Tar Heel State In Bottom-Third Nationally For Financial Literacy; What We're Doing About It

Apr 25, 2014

The North Carolina Bankers Association has set up a new center to develop curriculum that can help state residents better manage their finances.
Credit Kenteegardin / Flickr

Banks, businesses and non-profits are joining forces to help North Carolianians take control of their money.

A report from the finance web site WalletHub found that the Tar Heel State ranks in the bottom-third nationally for financial literacy.

Jan Dillon is the director of the new North Carolina Center for Financial Literacy.  She said financial literacy is knowing the skills to live comfortably within one's means, like budgeting, saving and planning.

“Things have changed a lot in the last 50 years. You know we have credit at different levels than we've ever have before. And so our kids grow up and they are bombarded with credit cards. Retirement plans are different now, and there's just a lot to learn. And if you don't learn that at home or at school, you could get in trouble,” Dillon said. “So what really combats that is education.”

The Center for Financial Literacy is working to improve and regulate financial education is state schools. Dillon says the program wants to organize webinars and events for adults and military families, too.

More info is available at the North Carolina Bankers Association website.