Do you have a budget? Do you have an emergency fund? Do you know how compound interest works? If you answered no to any of these questions, you're not alone. The level of financial literacy in the US is steadily declining and it's a lack of basic money skills that often gets young people into debt trouble that's difficult to climb out of. According to, 44% of Americans don't have enough cash to cover a $400 emergency; 43% of student loan borrowers are not making payments; 38% of US households have credit card debt; and 33% of American adults have $0 saved for retirement. All of these stats could be drastically improved if Americans were more educated about ways to save money, how loans work, and how to get started saving for retirement. These are all topics covered by CNB's new Financial Education Resource Center at

"As a community bank, we need to provide resources for people to become more educated about their finances. We hear from our customers that they're frustrated with the lack of financial literacy education in our schools and that there is a need for more awareness of the importance of budgeting and money management with the younger generation. We feel this online resource center is a small step in providing valuable information to get people headed in the right direction for creating a savings plan and avoiding debt they have difficulty paying back," states CNB President Eric Faulkner.

The Financial Education section is located under the Resources tab of It's broken down into four sections; budgeting, saving, investing and protecting. Each section highlights helpful articles and a selection of videos related to that topic. In addition to this section, more articles are available through our newsletters under CNB News and the Tools section provides links to online financial calculators which cover a variety of scenarios regarding saving, investing, retirement and even taxes.


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