Financial Literacy Studies Have Very Distressing Results
Summary
Recent studies show that significant numbers of young adults do not understand the complex or at the very least, simple personal financial concepts that exist today.The Council supports a more aggressive approach to teaching our young adults basic personal financial literacy concepts.“Young adults are now in the position to understand how poor financial planning has devastating effects on long term individual and family goals.“Young adults are now in the position to understand how poor financial planning has devastating effects on long term individual and family goals.College funds are being raided to pay mortgages and those students fortunate to have graduated from college have no jobs.”“Young adults should appreciate the dilemma the Nation is now in; they are seeing Seniors Citizens who thought they could retire, now being forced to go back to work to pay for basic living expenses because of retirement account losses”.“Now is the time to teach our young adults basic concepts in debt management, credit history management, budgeting and savings” says Russo.