As someone that deals with the aftermath of the financial mess, my answer will surprise you. Yes, there should be classes, but it is NOT a vaccination against financial problems, but it might be part of a longer-term multifaceted solution. My observation is that teaching personal finance in high school is a bit like requiring …
I prefer facts over myths and assumptions. One of the consistent myths in the personal debt arena is that more financial literacy classes will keep consumers out of debt. I get it. It sounds logical but it’s like a great scam, based on some small bit of truth. The reality is that since the early …
The stock market is often used as an indicator of the economy’s success. With so much weight attached to it, we must all have a full understanding of how investing works — right? Unfortunately, MagnifyMoney found that most Americans aren’t particularly well-versed when it comes to investing. In a new MagnifyMoney survey, we discovered that …
Financial literacy – the most misunderstood and abused good intention. It is alarming how we love simple solutions for complex problems. We want politicians to solve our ills in a soundbite and we want money problems to go away with a class. The reality is neither of those solutions is ever going to work. I …
I’ve been helping people with financial problems since 1994. And in that time I’ve seen all sorts of suggestions to inoculate consumers from money problems. Most of the suggestions surround the need for kids to have more financial literacy education. Sounds logical, right? But my mouth is hanging open as I read the latest college …
Dallas, TX (PRWEB) April 07, 2015 Debt Consolidation USA shared in a recently published article how parents can best explain the concept of money to their children. The article titled “5 Things To Help Children Understand The Concept Of Money” aims to guide families and households in carefully explaining to children how money and finances …
One of the direct results of my time working as an accountant was the realization that money habits, good or bad, start young. It didn’t take long, after I brought a sweet bundle-of-joy home for the first time, for me to start planning her financial education. I wanted her to see money as a tool, …
I’m back in the market for advertising letters and mailers (no emails) people receive promising some debt or credit help. I’ve found the best way to protect consumers is to use real examples of offers they may be approached with. By reviewing specific offers, people are receiving, I can use them as a tool to …
Kids.gov recently published these comics designed to teach kids all about learning ways to save money. The first is aimed at younger kids with an interesting message that you can buy stuff you really want if you use your own money. It struck me as an interesting message since it seems to be a tacit …
When I was 8 years old my dad took me into Citibank to open my very first savings account. He said it would teach me the value of a dollar and the importance of saving. I don’t remember how much I started my account with and if I deposited on a regular basis but I …