Money Minded Learning

Your teenager may already have a job or know a little about money, but have they thought about budgeting for that new smartphone, paying for music downloads or saving for those new clothes they like?  Once they head off to college, they’re suddenly responsible for saving, budgeting, and managing their own money. There are many stories of students making uninformed decisions, running up debt and more importantly, developing poor financial habits.

In 2009 more than 92 million people living in U.S. gave themselves a grade of C, D, or F on their knowledge of personal finance, suggesting there is considerable room for improvement, according to the National Foundation for Credit Counseling, Inc. Just over 30% of adults reported that they have no savings.

Other studies have found that 57% of households in the U.S. don’t even have a budget. If these adults aren’t financially literate or have the time to learn the complexities of financial management,