Why do we need a financial education? Here are some startling statistics:

·         Consumer debt has hit record highs – up 185% from five years ago

·         Mortgage debt is up. Foreclosures are up 14% nationally. 

·         “Nothing down, 0% financing” is tempting, but the cost of cars has jumped 11% since 2001. And nearly 40% of drivers who trade in their vehicles actually owe more than the car is worth.

·         If you're young, you're likely to be saddled with a hefty student loan and credit card debt.

·         If you're older, you may be struggling to recoup your 401(k) retirement plan that was slashed with the downturn in the stock market. 

·         In 2003, over 2 million people declared bankruptcy – 30% of those were women filing alone (4% more than men filing alone), while couples filed 44%. 

·         Women earn 76¢ to every dollar earned by men. This is as high as it's ever been, but the gap still impacts the lives of both single and married women. The last census showed women head 36% of all households. And many two-paycheck families depend on a wife’s income to make ends meet.

·         Women comprise 77% of older Americans living alone. It is projected that figure will jump to 85% by 2020.

·         A widow’s income drops 44% within three years after a husband's death, due in part to the loss of the husband’s private pension benefits.

One-third of older, single women count on Social Security for 90% of their monthly income. Social Security is not secure!  Social Security dollars are shrinking… most of us who do retire will not have the funds we need to help finance our retirement at that time.