• Home
  • Archive
  • Media Kit
  • Contact Us
  • May 31, 2025

The Madison Times

The Paper That's More Than Black and White

  • News
    • Local News
    • National News
    • International News
    • Sports News
    • Education News
  • Columns
    • Columnists
    • Editorials
    • Letters to the Editor
    • Life Lessons with Alex Gee
  • Events
  • Health
  • Finance
  • Lifestyle
  • Classifieds
  • Community
    • Middle Spread
  • Milwaukee

Share this:

  • Tweet
  • Click to email a link to a friend (Opens in new window) Email
  • Click to print (Opens in new window) Print

Financial Literacy Is Essential No Matter One’s Income

April 8, 2016

by Erika Janik

money-dollars-rolls-coins-piggy-bankThere are many types of literacy. One that nearly everyone could use some help with is financial literacy.

“Our surveys found that less than half of Wisconsinites were able to answer basic financial literacy questions, things like interest rates, investing, and savings,” says Peggy Olive, a Financial Capability Specialist with the UW-Extension.

Financial literacy is the ability to understand how money works: how to earn it, how to manage it, and how and where to invest and save it.

Olive says that financial literacy is essential to navigating your personal finances no matter your income. Many Wisconsin families, but particularly low and moderate income households, struggle with the range of choices in financial services. Finding a few extra dollars each month can make a big difference.

“One in five households are spending more than they bring in,” says Olive. “You can only sustain that for so long.”

Olive says that financial literacy is essential to the economic health of the state.

“Households are the backbone of the community,” says Olive. “Being able to juggle your household budget and provide for your family’s needs.”

UW Extension offers several programs and educational resources on personal finance. Some schools around the state also finance classes for students.

“I don’t care how or where you spend your money,” says Olive. “But everyone needs to know where their money is going.”

Wisconsin Public Radio, © Copyright 2016, Board of Regents of the University of Wisconsin System and Wisconsin Educational Communications Board.

Share this:

  • Tweet
  • Click to email a link to a friend (Opens in new window) Email
  • Click to print (Opens in new window) Print

Popular Interests In This Article: Erika Janik, Financial Literacy

Read More - Related Articles

  • Educators Credit Union Announces Partnership with Local National Basketball Association Champion Bobby Portis to Provide Free Financial Educational Tools
  • How to Start a Money Talk: Summer Money Tips for Kids
  • Chase Bank Provides Financial Literacy to the Milwaukee County House of Correction
  • Scams Can Happen to Anyone. Here Are the Most Common Ones and How to Protect Yourself
  • Grammy-Award Winning Artist Lecrae Partners with Experian North America to Talk About the Basics of Financial Health


Connect With Us

Become Our Fan On Facebook
Find Us On Facebook


Follow Us On Twitter
Follow Us On Twitter

Editorials

Karma Chavez
Amanda Zhang
Julianne Malveaux
Benjamin Chavis
George Curry

Journalists

Jacklin Bolduan
Brianna Rae
Aarushi Agni
Rob Franklin
Claire Miller

Topics

Brown Girl Green $
Young Gifted & Black
Universally Speaking
Ask Progress
Civil Rights

Topics

Police Shooting
Police Brutality
Black Lives Matter
NAACP
Racism

Politicians

Barack Obama
Hillary Clinton
Gwen Moore
Paul Soglin
Scott Walker

Contact Us

Phone:
414-449-4860

Copyright © 2025 Courier Communications. All Rights Reserved.
We use third-party advertising companies to serve ads when you visit our website. These companies may use information (not including your name, address, email address, or telephone number) about your visits to this and other websites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here.