15 Dec Young Americans don’t know much about money or credit

Written by Published in iZania Community Blog Read 2006 times
Rate this item
(0 votes)
On average, high school seniors answered only 57.4% of the financial questions in the survey correctly. That’s up a slightly from the same results two years ago but still terribly low.  And these were not tuft questions.  Only 13.2% said correctly that stocks are likely to offer the highest growth over 18 years of saving for a child’s education. Nearly 45% thought that a U.S. Savings bond would offer the highest return. Incoherently, we know that teenagers drastically underestimate the cost of using credit for purchases.I discussing teenagers and money on in this blog because far too many of these financially challenged teenagers will become financially challenged adults.  And financially challenged adults are more likely to end up being lured into overspending and just not managing money well.I understand that we all would appreciate if public schools to teach our young people about financial and credit issues, but my friends who are teachers tell me that am unlikely. They’re already being asked to teach more and take on many new responsibilities even while governments are cutting off resources.My site, http://www.SkillsThatClick.com, is one that does an excellent job teaching young people the honest truth about financial and credit literacy. We all need to be smarter about money. It is very important that we get every youth started learning about financial matters earlier."I created www.SkillsThatClick.com to be an entertaining and educational program for learning the importance of money management and credit, because so many kids today have a very limited exposure to strong models for financial management skills," explained Robinson.

The site offers a financial situation simulator to enable young people to practice their financial skills. Educational information and guidance is provided on many topics, including checking and savings accounts, ATM cards, credit cards, investments, and even 401k plans. Students learn to
shop, save, and invest wisely.Membership to the site is only $34.95 for a lifetime membership.  We have special fees for school districts and youth organizations; please call today for pricing (614) 777-1507.
BLOG COMMENTS POWERED BY DISQUS
Last modified on Sunday, 02 October 2016 23:55
Donald Robinson

Latest from Donald Robinson

More in this category: « BLACK IN TIME: A Moment In Our History Girlfriends Circle »
back to top