A recent article in the Dallas News questions the most effective method for teaching financial literacy to students. Mary Blanusa, CEE’s Vice President of Government Affairs & Partnership Projects said, “we found that what works is using an active learning method and really engaging the students through simulations, through activities, that are delivered in the classroom by a well-trained teacher.” See the full article here.
Over the last twenty years, households in the United States have noticed an increase in debt load and decrease in overall savings and retirement funding. Many of these expenses are related to education for the Millennial generation and longer life expectancy for the Baby Boomer generation. While higher lifetime income levels should offset the increasing costs, many people do not have the personal finance tools necessary to hedge the increasing cost for these expenses. Studies conducted by the Financial Services Review in 2007 determined that personal finance is a topic that affects all career levels in all disciplines. This study is especially relevant in Tennessee as our state has one of the highest average credit card debts at $7,054 per person and the highest per capital bankruptcy filings at 6.59 per 1,000 people. Read more…
This month we celebrate Financial Literacy Month in an effort to bring attention to this important life skill and encourage all Americans to take charge of their financial health. We’re confronted with a variety of financial decisions throughout our lives. Whether saving for retirement, buying a home, financing an education or simply putting away money in an emergency fund, a solid financial education is vital to making smart and responsible decisions.
The importance of consumer sophistication on financial matters has never been more important than it is in today’s economy. Unfortunately, Americans receive a failing grade when it comes to the subject.
US News & World Report references a recent study by H&R Block that reveals adults aren’t the only ones worrying about money. The survey of 13- to 17-year-olds shows that teens are worried about future student loan debt, gaining employment and maintain the standard of living from their childhood homes.