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Keystone Scholars and the PA Library Association

The PAForward™ Program of the Pennsylvania Library Association through its ongoing partnership with the Pennsylvania Treasury Department’s Keystone Scholars program […]

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Pennsylvania Library Association

Pennsylvania Library Association 2021 Conference & Expo – Welcome, Neighbor! The Pennsylvania Library Association (PaLA) is the oldest professional library […]

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Covid Resource Library

We invite you to download and share the following COVID-19 communication materials.  Scroll down for a collection of our latest […]

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Financial Literacy

How is financial literacy defined?

Having the knowledge and understanding necessary to make informed fiscal/economic decisions for personal life planning and business interests including responsible budgeting, spending and saving skills.

Good readers generally have more financially rewarding jobs. Proficient readers are 2.5 times as likely as basic readers to be earning $850 or more a week.

Good readers generally have more financially rewarding jobs. Proficient readers are 2.5 times as likely as basic readers to be earning $850 or more a week.

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Right now, about three-quarters of the fastest growing occupations require more than a high-school diploma, and yet just over half of the U.S. citizens have that level of education.

Employers rank reading and writing as top deficiencies in new hires. Thirty-eight percent of employers find high school graduates "deficient" in reading comprehension, while 63% rate this skill "very important."

38% of basic readers said their reading level limited their job prospects.

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More than one in six U.S. students do not reach the baseline level of proficiency in financial literacy.

45% of U.S. adults give themselves a grade of C,D or F on their personal finance knowledge.

Thousands of Pennsylvanians contact the Attorney General's Office each year about credit card charges, finance scams, and misleading solicitations.

Thousands of Pennsylvanians contact the Attorney General's Office each year about credit card charges, finance scams, and misleading solicitations.

By the Numbers

  • One in four adults do not save any portion of their income for retirement, and about 30% are not confident they are saving enough for retirement.
  • In Pennsylvania, about 65% of people do not compare credit card offers before making a decision, a practice that can result in higher interest rates and higher borrowing costs.
  • Of credit card holders, 47% carry a credit card balance and 22% have been contacted by a debt collection agency in the last year.