InFocus: Financial literacy and managing your money

Millions of Americans live paycheck to paycheck and don't have any savings in case of a financial emergency.

CHICOPEE, Mass. (WWLP) – Millions of Americans are living paycheck to paycheck.  According to a recent BANKRATE report, nearly six in 10 Americans don’t have enough savings to cover a $500-dollar or $1-thousand dollar emergency expense.

The economy is making gains after the 2008 recession, but some people still face serious financial difficulties after losing jobs and using credit cards to get by. Some people dipped into their retirement accounts in order to prevent financial ruin. Everyday we face financial strains such as medical bills, mortgages, loans for cars and college, the expenses that come with raising children, as well as those unexpected emergencies like an expensive auto repair.  For people without any financial knowledge, it can be confusing and life altering.

This week on 22News InFocus we’ll be discussing the importance of personal finance education.  We’ll also learn about programs available to help you get on track to financial stability.  This week’s panel of guests are Jennifer Connolly,President of Junior Achievement Western Massachusetts; Jon Reske, Vice President of Marketing for UMass Five College Federal Credit Union; and Jennifer Kinsman,Director of Community Impact for the United Way of Pioneer Valley.

If you want to learn more about the importance of financial literacy, programs and resources that can help you create and maintain financial stability, and best practices in managing your personal finances, be sure to watch 22News InFocus here.