April has been declared National Financial Literacy month in the United States. People who are insufficiently educated about their personal finances can make use of this month in gaining better financial tips. Rapid Recovery Solution, one of New York’s commercial debt collection agencies, says that there couldn’t be a better time to start acquiring more financial knowledge than this time.

The majority of consumers are experiencing some sort of financial difficulty, causing a significant impact on their everyday lives. According to the Financial Literacy Month website, Americans carry more than $2 trillion in consumer debt and 30 percent of consumers report having no extra cash; making it impossible to escape the burden of living paycheck to paycheck.

“Participants in this awareness-raising campaign have put out a lot of information to help consumers achieve ‘financial wellness,’ and their efforts are commendable,” John Monderine, chief executive officer of Rapid Recovery Solution, said in a statement.

Rapid Recovery Solutions emphasized the fact that if colleges and high schools start demanding students to demonstrate a certain standard of financial literacy before earning their degree, America can see a shift in the financial landscape.

The company’s release also quoted a recent study that found many young adults entering college are engaged in risky financial behaviors. If this behavior is not curbed early, they can get themselves into real financial trouble and will never be able to escape this cycle. Rapid Recovery claims that its campaign is focused on helping people understand their own relationship to their money. The company eagerly is looking forward to informing consumers about their rights with respect to personal debt.

TMC recently reported on a new survey fielded for the American Institute of CPAs by Harris Interactive (News - Alert) in recognition of National Financial Capability Month. Money stress brought on by lighter paychecks this year is affecting more than Americans' wallets - it's taking a toll on their waistlines, friendships and sleep, revealed the study.