April marks National Financial Literacy Month, an important reminder of the critical role that financial literacy plays in safeguarding both personal well-being and our nation’s economic health. At Phoenix Financial Group, LLC, we believe that promoting financial literacy is not just about helping individuals better manage their finances—it’s about fostering a more prosperous and secure society for all.
Despite growing awareness, the reality is that many Americans still lack basic financial knowledge. According to a recent survey conducted by the National Financial Educators Council, the average American lost $1,015 in 2024 due to poor financial decisions rooted in insufficient financial education. That’s not just a personal loss—it’s a national concern.
Additional research underscores this challenge. The 2024 TIAA Institute-GFLEC Personal Finance Index revealed that nearly half of U.S. adults struggle with essential financial concepts like saving for retirement, managing debt, and understanding risk. In fact, for the past eight years, this index has shown that about 50% of Americans cannot correctly answer more than half of its questions—a consistent indicator of the financial literacy gap.
Perhaps even more urgent is the need to boost financial literacy among our youth. Studies show that young people who grasp basic financial principles are more likely to invest wisely, avoid excessive debt, and plan strategically for the future. With around 70% of retail investors under the age of 45, the opportunity to empower the next generation through education has never been more important.
At Phoenix Financial Group, LLC, our mission is clear: to equip our clients—and their families—with the tools, knowledge, and personalized strategies they need to achieve financial stability, build generational wealth, and create lasting prosperity.
Financially educated consumers aren’t just more secure in their personal lives. They also support the robustness of the broader economy, and they form the backbone of a healthy market for insurance, retirement planning, and financial services.
This month—and every month—we reaffirm our commitment to advancing financial literacy and empowering individuals and families to thrive.
Let’s make April the start of smarter decisions, greater confidence, and stronger financial futures for all.