The road to financial freedom just got easier with Comerica Bank leading the way.

Appealing to customers of all ages, Comerica has established several financial literacy programs to rescue and prevent those from drowning in debt.

“Financial literacy is an area that is sometimes overlooked,” said Charlene Cole, Comerica Education Relations manager. “It’s important that consumers receive the right information to help them to make sound financial decisions and to create positive banking relationships.”

Studies reveal that many Americans do not know how to manage their money. Recent statistics show that 43 percent of families spend more than they earn each year, and the average household credit card debt is $8,000.

In 2005, 2 million Americans filed for bankruptcy, becoming the highest number in history.

Financial education reduces debt and promotes financial stability for individuals, families and entire communities. The more knowledgeable people are about credit and banking services, the more likely they are to boost savings, purchase homes and improve their financial health and well-being.

Whether you are planning to buy a home, balancing your checkbook or investing in your 401k, getting a good financial education can help you do it better

“Financial literacy programs such as Money Smart help consumers to increase financial knowledge, develop financial confidence, and use banking services effectively,” said Melanie Odom, Comerica Civic Affairs vice president. “Comerica has partnered with organizations in the community to sponsor financial education workshops.”

Some of the topics discussed in the workshops include homeownership, credit card management, consumer rights, creating and balancing a budget and choosing the right checking account.

Youth are also gaining financial wisdom through hands-on instruction, classroom courses and internships funded by Comerica, such as the Youth Savings Program, Building on Our Future, Comerica Mall, Junior Achievement Finance Mall and Golightly Career and Technical Center’s Comerica Mall and Finance Academy Program.

By providing early instruction, Comerica hopes to establish lasting relationships with existing and new generations of money-wise customers.