By Angela Hatton
Murray, KY – A national survey shows Kentuckians are among the nation's least financially literate. The Financial Industry Regulatory Authority reports 67 percent of Kentuckians lack a rainy day fund. Seventeen percent spent more than their annual income last year. A local study by the Murray-Calloway County United Way also showed a need for financial literacy training in the region. Resource Development Director Aaron Dail says they've formed the Purchase Area Asset Building Coalition to address financial training.
"We're starting the effort here in Murray, namely because of the abilities we have to partner with different groups here. But our goal, our long-term goal, is to take it to all eight Purchase counties."
The program includes many initiatives, such as free tax preparation for low to middle income households and education for high school students on credit reports and budgeting. Dail says this is the state's first asset-building coalition west of Bowling Green.