Eric Dickerson Associates, LLC - Training for Financial Wellness - Our Purpose

Mission

The Need

Programs

Goals & Results

Our Commitment

Personal Burden

There’s little debate that Americans can do much better in assessing and managing their finances. A poor understanding of finance and a lack of control over financial matters leads to a sense of confusion and helplessness, often resulting in long-term financial challenges. In the land of plenty, money is proving to be a greatly misunderstood commodity, regardless of income, age or background.

And the outlook is equally as bleak for young adults in our colleges and universities. The average graduate is leaving school with no credible or tangible personal financial management experience, an unfortunate circumstance that carries forward into adulthood.

Organizational Burden

Poor personal financial management doesn’t only affect individuals. It affects employers and institutions as well. A study for Consumer Interest Annual indicates that anywhere from 25% to 60% of employees, based on income level, feel financial distress. And these financial distresses are carried into the workplace, resulting in lower worker productivity and losses for the organization.

The statistics above clearly show a need for personal financial management training for all levels of adults, from college age through those nearing retirement. This struggle to understand and assemble the complex pieces of the financial puzzle causes so many Americans to become overwhelmed and worry about their financial position.

Eric Dickerson Associates attempts to bring the pieces of this often complex and overwhelming puzzle into focus.



		For the first time since 1933, during the Great Depression, the personal savings rate is in negative territory.
		More than half of U.S. families are living paycheck to paycheck.
		Nearly a fifth of American adults have a net worth of zero ($0) or less.
		Two out of every three Americans report having trouble paying their bills and consistently worry about money.
		In 2004, nearly 8% of graduating seniors carried student loan debt of $40,000 or more.
		Nearly 25% of college students use credit cards to help pay for books and tuition.
		The typical college senior has an average balance of over $3,200 in credit card debt upon graduation.
		Among young adults who graduated with debt, 34% have sold possessions to make ends meet.
		Depending on age, income level and stag of life, decreases in worker productivity due to financial stress could range as high as 40% - 50%.
		In 2005, the Department of Labor, Bureau of Statistics estimated that a minimum of 25 million adults in the workforce are seriously financially distressed.