Boost Your Money Smarts: 6 Entertaining Facts About Financial Literacy You Never Knew!

1. China: Origin of Paper Money

Long before "cash is king" became a popular mantra, China decided to go beyond the metal and take the royal game to a whole new level: In the annals of currency history, China triumphantly claimed the distinction of being the first country to print and circulate paper money, outshining coins that debuted a mere 2,500 years ago.
Source => rate.com

2. Zimbabwe's Inflation Party

When Zimbabwe partied a little too hard with their money printer: Inflation skyrocketed from 2008 to 2009, reaching a peak of 79.6 billion percent month-on-month in mid-November 2008, forcing the government to produce banknotes in fantastical denominations, including a whopping 100 trillion dollars! Eventually, Zimbabwe waved the white flag and began using foreign currencies as legal tender to regain balance in their financial fiesta.
Source => en.wikipedia.org

Did you know mortgages used to be rebellious troublemakers? Before the Great Depression, borrowers had to pay 50% upfront and settle loans in just 3-5 years! 😲 Discover how this led many families to rent instead.

=> Fun Facts about Mortgages

3. Retirement Savings Crisis

Step aside, piggy banks and rainy day funds: Retirement savings could use a lifeline—or a winning lottery ticket—because 56% of Americans have less than $10,000 squirreled away for their golden years! This mad dash toward empty pockets is even more concerning for women, who are 27% more likely to have zilch in the retirement bucket, and laugh-out-loud laughable for Millennials, with 72% of them stashing away less than $10,000 for their post-work adventures.
Source => money.com

4. Zodiac Signs & Money Matters

Hoping the stars align for your financial success? You might just be looking in the right place: According to astrology, each zodiac sign has its own approach to achieving financial success, with Aries being ambitious risk-takers and Taurus sticking to their cash-grabbing bull by the horns through careful planning – but remember, you can still improve your financial literacy through education and experience, regardless of your star sign's money mindset.
Source => timesofindia.indiatimes.com

5. Financial Superhero Skills

Picture yourself as a financial superhero, navigating the treacherous world of budgets, debts, and credit scores, armed with your mighty weapon: financial literacy! A powerful tool that lets you vanquish your foes (like mountains of student loans) and save for your future lair (adorable tiny house, anyone?): Mastering financial literacy is the secret to achieving life goals like saving for education or retirement, managing debt wisely, and running a successful business empire.
Source => investopedia.com

6. Cure for Financial Blues

Feeling the financial blues? You're not alone! singing notes may not help, but knowing the numbers might just do the trick: A study by the Global Financial Literacy Excellence Center and the FINRA Investor Education Foundation found that over half of American adults were already feeling financial anxiety before the COVID-19 pandemic hit, and improving financial literacy can help alleviate that stress and turn our financial frowns upside down!
Source => finra.org