Financial Literacy Slide Show
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Transcript of Financial Literacy Slide Show
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8
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Unprepared for “The Real World”
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74% of parents of high school students were more concerned about their
children “developing good personal financial skills” than “following the
wrong crowd” or “drugs/and alcohol use.”
[Practical Money Skills for Life, Visa USA 2005 National Back to School Survey]
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“Only 26% of 13-to 26-year olds reported their parents actively taught them how
to manage money.”
[Statement on the Introduction of Credit Card Bill of Rights, Senator Menendez,
April 2006]
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“The greatest single source of money for teens is gifts, 54%, up from 47% in 2006. 52% say they simply “ask for
money from my parents or guardians when I want or need something.”
[Charles Schwab Teens & Money 2007 Survey]
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Young Americans now have the second highest rate of bankruptcy, just after
those aged 35 to 44.
[Demos: A Network for Ideas & Action, "Generation Broke Report" 2004]
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University administrators state that they lose more students to credit card debt
than to academic failure.
[Junior Achievement Organization, 2004]
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When young adults ages 18 to 25 were asked to name the most important problem facing them in their lives
today, the highest response (30%) was financial issues including bills, debt
and the cost of living.
[Pew Research Center, 2007]
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People in the 18-to-24 age bracket spend nearly 30% of their monthly income just
on debt repayment.
[Demos: A Network for Ideas & Action, “Generation Broke Report” 2004]
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Money in the Classroom
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76% of parents said that schools should be required to teach money
management skills.
[Practical Money Skills for Life, Visa USA 2005 National Back to School Survey]
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Only 21 of 50 states actually implement legislation for financial literacy
standards. While nine states require student testing in personal finance, only seven states actually require
students to take a personal finance course in high school.
[National Council on Economic Education, 2005]
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In a recent survey, 76% of college students wished they had more help preparing for their financial future.
[The Hartford Financial Services Group, 2007]
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A Growing National Problem
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The average household with debt carries approximately
$10,000 to $12,000 in total revolving debt and has 9 credit cards.
[Jump$tart Coalition for Personal Financial Literacy, “Making The Case for Financial
Literacy-2005”]
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In 2005, savings rates dipped to minus 0.5 percent, something that hasn’t
happened since the Great Depression.
[US Department of Commerce, 2006]
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The Solution
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brass has a taken a giant step in the right direction by providing content,
information, inspiration and resources where young adults need them most.
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But we can’t do it alone.
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We need you–students, young professionals, teachers. businesses,
and organizations–to help.
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Please visit our Action Center right now to help us get brass|TV picked up by a
major TV network.
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PICTURE
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