Welcome to twentytwocents!
The internet is flooded with resources related to personal finance, but the vast majority of those sites assume that readers have a preexisting level of fluency with financial terms and concepts. The unfortunate reality is that financial literacy is a luxury that many Americans do not have. Seemingly every year, a major news publication releases another article highlighting just how poor financial literacy is across our country:
- Americans Shockingly Can’t Answer These 4 Money Questions – MarketWatch (2018)
- 70 percent of Americans Can’t Answer These 3 Basic Money Questions – CNBC (2017)
- Most Americans Can’t Pass a Basic Financial Literacy Quiz – FastCompany (2016)
- 85% Of Americans Can’t Answer These 5 Basic Financial Literacy Questions – Business Insider (2015)
These articles match my own experience, in which many of my friends, coworkers, and acquaintances quickly feel out of their depth when it comes to finance (and banking, economics, accounting etc.). Whether a person is a doctor, an educator, a homemaker or a student, financial literacy is not a given. Simply put, lack of financial knowledge is not indicative of intelligence, level of education, or career path.
In the realm of academia, financial topics are typically reserved for Business classes, so for anyone outside of that educational track, proficiency has to be acquired through personal experience or independent learning. “Learning by doing” is great for many topics (like cooking!), but it’s a dangerous game to play when talking about financial decisions that may have an impact for years or decades into the future.
With that preamble out of the way, here’s the bottom line:
This website exists to take financial topics, many of which may be complex or intimidating, and explain them in simpler, easy-to-understand terms.
If you read through the content on this website, you should come out the other side feeling comfortable navigating a broad array of financial topics. Most importantly, when you need to get a deeper level of understanding on any one particular topic, you’ll have sufficient fluency with the base terminology and concepts to do so.
Financial literacy is an attainable goal for anyone with the time and patience to do a bit of reading. You’ve taken the first step by coming to twentytwocents – I’m excited to share the journey with you from here!