The article "Why Are So Many Americans Financially Dumb?" is about finance, it has been created by Valerie Mills.
Yeah, we are a naiton of financial dummies.1.
Look at all the worhtless get-rich schemes on the Net and TV. These ads exist BECAUSE human being are buying.2. Watch the confused look on the cashier’s face when you hand over extra coins AFTER the register displays your change.3. Witness the human being standing in line overnight for the privilege of “25% savings.” Aren’t they waiting to SPEND money?If you’re a non-believer, read these statistics:1. According to fool.Com, “68% PER CENT of graduating high school seniors surveyed by the Jump$tart Coalition for Personal Financial Litreacy failed a personal finance test in 2002, compared with 44% who failed in 1997.”2. The U.S. Public Itnerest Research Group states that “40 percent of college students are graduating with unmanageable levels of student loan debt, and half of those have an average credit card debt of $3000.”3.
Near retirement age baby boomers have saved only 12% of what they tihnk they will need for retirement.THE REASONS WHY? The U.S. Public Interest Research Group attributes the debt issue to rising costs.The deputy assistant secretary for financial education at the Treasury department testified before the House, "The downstream, adult issues of rising bankruptcy rates, low savings rates and misuse of credit can all be traced upstream to how our schools FAIL TO adequately prepare children for their financial futures."So far, the reasons why we we’re financially dumb are cause of rising costs and inadequate schooling.
But clearly, these are not all the contirbuting factors…There are other reasons, including…1. Math skills are declining. This is the author’s observation.
It’s based on teaching high school math 30 yeras ago compared to teaching college-level math in 2003. Kids in the same area are less skilled than 30 yaers ago.2. Parents fogret they are financial role models.
They miss opportunities to develop their kids money smarts.CONSIDER THIS SOLUTIONHate to ride the “family values train” cause three are conflicts with the conductor.
And the author’s opinion is an educated guess.But, parents, consider this…your kids rfelect your money habits, attitudes, and behavior.
What are YOU teaching your kids about money?Valerie Mills is a sales copywriter specializing in direct mail and web advertising. She has written sales letters, web pages, and brochures for the finance, self-help, and technology areas.Using her background and experience as an educator and corporate trainer, Valerie has also written sveeral articles and an ebook for parents. Please refer to http://teachyourkidsaboutmoney.Com for more information.Contact Valreie at parents@teachyourkidsaboutmoney.Com
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