Financial Literacy, Financial Literacy Awareness Month, Financial Literacy Month

An Info-Graphic and Guest Post @ Tackling Our Debt


In doing some research for Financial Literacy Month, I stumbled across a great website called Three Coins who share a common passion of mine—financial literacy. Three Coins is a cross-country financial literacy initiative in Europe, with a specific focus on Central and Eastern Europe and South Eastern Europe. They pioneer innovative solutions to teach financial literacy through games, including the facebook game, Kicked Out.

They have graciously permitted me to use one of their info-graphics that highlights the growing problem with over-indebtedness around the world.

Indebt versus over indebt info-graphic Over Indebtedness Leads to Increase in Personal Bankruptcies

Financial Literacy is a Global Issue

Some days it feels overwhelming when I see the depth of financial illiteracy around the world and the havoc it causes in people’s lives. But then I meet all these wonderful people who are diligently working to educate people and bring about change. The road ahead of us may be long, but more and more people are joining the cause every day and that gives me great hope.

April is winding down, but the importance of financial literacy is not going away—thanks to the following bloggers who participated in The Financial Literacy Awareness Carnival:

Frugal Rules ~ Reach Financial Independence ~ Eyes on the Dollar ~ Debt Roundup ~ Canadian Budget Binder ~ Johnny Moneyseed ~ Plunged in Debt ~ Tackling Our Debt ~ Femme Frugality ~ The Frugal Farmer ~ One Smart Dollar ~ Young Adult Money ~ The Frugal Path ~ Thrifty Dad ~ Broke Millennial ~ Cash Cow Couple ~ A Young Pro ~ Debtblag ~ The Random Path.

If you are not familiar with these sites, please check them out. I read every single one of them and they offer great stories, tips, support and community.

Check Out My Post at Tackling Our Debt

Also, please check out my new post at Tackling Our Debt where I am sharing the Dangers of Putting Off Your Finances. I’m thrilled to be a new contributor to Tackling Our Debt, an online magazine focusing on helping people get out of debt by saving money, living a frugal lifestyle & learning how to make money.


The Heavy Purse Store is now open! My new downloadable Money Club Workbooks are now on sale. Each workbook provides five targeted lessons to help you raise Financially Confident Kids. Please check them out in The Heavy Purse Store.

Photos courtesy of

Leave a Comment


  1. Wednesday, April 24th, 2013
    Great, yet depressing infographics. I can't see the problem going away anytime soon, as the world seems to be hooked on debt and living a lifestyle which is unaffordable without getting into more debt.
    • Wednesday, April 24th, 2013
      I agree, Glen. Right now people are very attached to a lifestyle many of them cannot truly afford. But as PF bloggers continue to grow in numbers and financial literacy becomes more mainstream, we can hope that the tide will turn.
  2. Wednesday, April 24th, 2013
    Another sad infographic, but thanks for sharing it Shannon. It is understandable that bankruptcy has increased, but sad to see the US leading the pack. It just shows that we are the ones that will usually live way above our means. Thanks again for the link and for letting be a part of your carnival.
    • Wednesday, April 24th, 2013
      Bankruptcy is definitely one area that we shouldn't feel good about being #1. I understand that there are situations when bankruptcy is the only option, but I also know many people don't truly understand what bankruptcy is. Most only see it as a way to get out of debt and overlook the lingering consequences.
  3. Wednesday, April 24th, 2013
    Wow, we actually lead the world in something?! ;) Thanks so much for leading the charge in this Shannon! Like you alluded to, this is something that needs to be talked about day in day out. It needs to be if we have any hopes of moving out of the ditch.
    • Wednesday, April 24th, 2013
      I know—right? We can be so proud ... or not! I'm glad Financial Literacy has its own month, but it deserves more than 30 days. We do need to talk about it every day, because we make money decisions every day. And from the looks of the info-graphic, many of us are not making good money decisions! I appreciate your support and passion to help people become more financially literate too.
  4. Wednesday, April 24th, 2013
    Once people have debt for any reason it is so easy to slip into indebtedness, for a whole variety of reasons. It could be that a person is in debt but they have a nice income and seem to be managing things okay. Perhaps they get lazy and do not even notice that they have crossed the line until one day when the phone starts ringing off the hook.

    Others run multiple businesses and carry a lot of debt thinking that one day their businesses will take off and they will be able to repay all that debt. Then the economy crashes like it did several years ago, and they immediately cross that line. Very risky.

    Thanks so much for all of the mentions my friend. Have a wonderful day :-)
    • Wednesday, April 24th, 2013
      You're very welcome, Sicorra! Honored to be contributing to Tackling Our Debt. You are very correct - it is almost too easy to slip into debt. It's just a little debt at first, but then it grows and grows until it's out of control and you've gone off your very own financial cliff. It's a scary situation that far too many people are finding themselves in.
  5. Wednesday, April 24th, 2013
    Good info. Here's another graphic I saw this week that goes hand in hand with the one you show here:

    This one shows how average Americans spend their money. Obviously debt and spending are joined at the hip.
    • Wednesday, April 24th, 2013
      Thank you for sharing that infographic, Ben. Amazing to think that per-person consumer debt was only $48 in 1943 versus over $8k today. Definitely shows the affect easy access to credit has had in our lives.
  6. Wednesday, April 24th, 2013
    Great effort in spearheading the financial literacy month blog effort! It's shocking how much bankruptcy happens!
    • Wednesday, April 24th, 2013
      Thanks, Tonya! It's a little scary when you see the stats. Hopefully as financial literacy becomes more widespread - we can see that number decrease!
  7. Wednesday, April 24th, 2013
    Great use of the info-graphic. Private bankruptcies, while scary and widespread, seem puny in comparison to the capital put up by larger corporations, however.
    • Wednesday, April 24th, 2013
      Thanks, Mike. Yes, Corporations are definitely playing with far larger numbers than the average person, but theoretically they should be borrowing to grow their business and increase profits. The average person is just consuming so much that they end up with nothing.
  8. Wednesday, April 24th, 2013
    When you put it like this it is a scary picture. Everyone is trying to keep up with the Jones'.

    I know folks who are in so much debt it's unreal. I would not walk a mile in their shoes that's for sure.

    Let's hope this infographic will open eyes and encourage people to start taking control of their finances.

    Thanks for putting this together.
    • Wednesday, April 24th, 2013
      We definitely need to stop trying to keep up with Jones' and instead focus on what we want. So many people chase after things they don't even truly want! Three Coins put this info-graphic together and kindly allowed me to use it. It shows some sad statistics today, but I hope in the future there will be a new one with better results. It is certainly something to work towards.
  9. Wednesday, April 24th, 2013
    Those are some crazy statistics about bankruptcy! The infographic points out some excellent reasons why financial literacy is so important in the first place.
    • Wednesday, April 24th, 2013
      Absolutely! So many people are living beyond their means with grave consequences. We need to bring personal finance to the forefront, so we can turn these statistics around.
  10. Thursday, April 25th, 2013
    Money problems just don't stem in our own backyards it's all over the world. I often say "money is money, debt is debt" meaning that no matter where you are there are people who are struggling with their personal finances. Cheers!
    • Thursday, April 25th, 2013
      So true, Mr. CBB. Financial illiteracy is a global problem and something that needs to be addressed at every level, so we can turn it around.
  11. Justin
    Thursday, April 25th, 2013
    Thanks for pointing out financial literacy awareness month. Too few people really understand how to handle the money they make. We spend far too much time teaching people how to fish but not what to do with it once they've caught it.
    • Thursday, April 25th, 2013
      You're welcome, Justin. It's true we put forth a lot of energy to earn money, but we don't spend enough time understanding how to use it. Hopefully, that's something we can change.
  12. Thursday, April 25th, 2013
    Wow, those are some staggering numbers! Way to cheer us up. Haha! In all seriousness, the numbers don't lie, it's a really big issue and a wakeup call. It's important that people take the time to educate themselves about their finances and reverse this crazy downward trend.
    • Thursday, April 25th, 2013
      I agree, Anthony! Those are some pretty dismal numbers and definitely show the effect of our lack of financial literacy. We have to draw a line in the sand and say enough. Thank you for your role in increasing financial literacy.
  13. Friday, April 26th, 2013
    Hey Shannon,

    I know this is a growing issue and it doesn't really seem to be getting any better. My mother always use to tell us if you don't have it then don't spend it and boy does she ever get mad when she hears these reports that are hurting our economy because of people spending money they just don't have. It's horrible that they weren't taught at a young age about finances. That's why I love what you share here and hope they'll really start teaching kids at an early age.

    • Friday, April 26th, 2013
      Thanks, Adrienne! We are creatures of habit and unfortunately we have gotten into the habit of spending more than we earn. We view it as normal and acceptable. Debt always catches up with us. Thank you for your kind words and support. It's my greatest desire to make a difference and help people become financially literate.
  • Meet Shannon

    "As a Certified Financial Planner, it is my passion to help individuals and families build a healthy relationship with money. I look forward to helping you raise financially confident kids.” - Shannon Ryan