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The Importance of Financial Education

April 18 751x1024 The Importance of Financial Education

By Senator Josh Stein, 16th District of North Carolina Senator.

Financial Literacy is critically important to the health of our nation and our state. If anyone ever doubted that statement, just consider our current economic situation.

We are in the midst of a slow recovery from the Great Recession created by the financial crisis, which was a result of financial markets that were out of whack and borrowers not understanding what they were getting themselves into. Read more…

POSTED: April 18, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , ,

The Necessity of Financial Education

April 17 150x150 The Necessity of Financial Education

By Richard Fisher, President & CEO of the Federal Reserve Bank of Dallas.

I am excited to express my support of Financial Literacy Month, an extremely important effort. Learning to make sound financial decisions is a skill that positively impacts people throughout their lives. I commend all of the educational institutions and non-profits that spend countless time and energy providing financial education. Read more…

POSTED: April 17, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , ,

CEE In The News: Expert Stresses Need for Kids to be Taught Personal Finance

In this article CEE’s President and CEO Nan Morrison stresses the need
for children to receive proper financial education at school. Studies
have shown that many children learn about personal finance from their
parents,  yet many parents are not properly equipped to to teach their
children.

The 2014 Survey of the States found that very few states require
courses in personal finance. Morrison calls upon parents to speak with
teachers and principals about financial education in the curriculum
and to learn about money with their children.

POSTED: April 16, 2014 | BY: Morgan Hoey | TAGS: , , ,

Financial Literacy within Our Communities

April 16 240x300 Financial Literacy within Our Communities By Carolyn Berkowitz, Managing VP of Community Affairs at Capital One; President of the Capital One Foundation.

Today, young people are facing challenges no other generation has faced as they become adults and adapt to an ever changing world. The great recession has left us a job market and economy that are still rebounding, while the cost of college and living are higher than ever. If our children are to grow up to be productive, independent and fulfilled, it is imperative they understand the principles of money management — how to use money wisely, how to save it and how to make it work for them.

Research shows that millennials feel strained when it comes to personal finances. In fact, earlier this year, FINRA released a survey that shows 36% of 18 to 24 year olds have student loan debt and 55% of them fear they won’t be able to pay down their loans. Only one third of respondents have emergency savings, 31% have unpaid medical bills and nearly half carry a balance on their credit cards. Read more…

POSTED: April 16, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , ,

CEE In The News: Financial Education For Kindergartners

A CNBC article discusses President Obama’s recent proclaimation that April is National Financial Capability Month and his reestablishment of the Advisory Council on Financial Capability for Young Americans. The spotlight is on financial literacy, however it is not taught in most schools.

The 2014 Survey of the States found that few schools in the nation required courses in personal finance and even fewer required students to be tested on the concepts. The president’s advisory council aims to make vast improvements to financial education across the nation.

POSTED: April 15, 2014 | BY: Morgan Hoey | TAGS: , , ,

Advocating Financial Literacy

April 15 199x300 Advocating Financial LiteracyBy Congressman Ruben Hinojosa, 15th District of Texas

I am proud to be Co-Chair and Co-Founder of the Financial and Economic Literacy Caucus (FELC) in the U.S. House of Representatives. In 2005, former Congresswoman Judy Biggert and I joined forces to found the first Congressional caucus devoted to furthering financial literacy for all Americans. Over the years, FELC has supported legislation, hosted briefings, and engaged federal agencies on promoting financial literacy at all levels of policy. I am happy to have Congressman Steve Stivers of Ohio, as the new Co-Chair for our Caucus. We share a belief in the power of financial literacy to decrease inequality and increase financial stability and hope for one’s future. Read more…

POSTED: April 15, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , ,

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