Financial Literacy Slide Show


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Financial Literacy Slide Show

  1. 1. 8
  2. 2. Unprepared for “The Real World”
  3. 3. <ul><li>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.” </li></ul><ul><li>[Practical Money Skills for Life, Visa USA 2005 National Back to School Survey] </li></ul>
  4. 4. <ul><li>“ Only 26% of 13-to 26-year olds reported their parents actively taught them how to manage money.” </li></ul><ul><li>[Statement on the Introduction of Credit Card Bill of Rights, Senator Menendez, April 2006] </li></ul>
  5. 5. <ul><li>“ 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.” </li></ul><ul><li>[Charles Schwab Teens & Money 2007 Survey] </li></ul>
  6. 6. 7
  7. 7. <ul><li>Young Americans now have the second highest rate of bankruptcy, just after those aged 35 to 44. </li></ul><ul><li>[Demos: A Network for Ideas & Action, &quot;Generation Broke Report&quot; 2004] </li></ul>
  8. 8. <ul><li>University administrators state that they lose more students to credit card debt than to academic failure. </li></ul><ul><li>[Junior Achievement Organization, 2004] </li></ul>
  9. 9. <ul><li>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. </li></ul><ul><li>[Pew Research Center, 2007] </li></ul>
  10. 10. <ul><li>People in the 18-to-24 age bracket spend nearly 30% of their monthly income just on debt repayment. </li></ul><ul><li>[Demos: A Network for Ideas & Action, “Generation Broke Report” 2004] </li></ul>
  11. 11. 6
  12. 12. Money in the Classroom
  13. 13. <ul><li>76% of parents said that schools should be required to teach money management skills. </li></ul><ul><li>[Practical Money Skills for Life, Visa USA 2005 National Back to School Survey] </li></ul>
  14. 14. <ul><li>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. </li></ul><ul><li>[National Council on Economic Education, 2005] </li></ul>
  15. 15. <ul><li>In a recent survey, 76% of college students wished they had more help preparing for their financial future. </li></ul><ul><li>[The Hartford Financial Services Group, 2007] </li></ul>
  16. 16. 5
  17. 17. A Growing National Problem
  18. 18. <ul><li>The average household with debt carries approximately $10,000 to $12,000 in total revolving debt and has 9 credit cards. </li></ul><ul><li>[Jump$tart Coalition for Personal Financial Literacy, “Making The Case for Financial Literacy-2005”] </li></ul>
  19. 19. <ul><li>In 2005, savings rates dipped to minus 0.5 percent, something that hasn’t happened since the Great Depression. </li></ul><ul><li>[US Department of Commerce, 2006] </li></ul>
  20. 20. 4
  21. 21. The Solution
  22. 22. <ul><li>brass has a taken a giant step in the right direction by providing content, information, inspiration and resources where young adults need them most. </li></ul>
  23. 23. 3
  24. 24. <ul><li>But we can’t do it alone. </li></ul>
  25. 26. <ul><li>We need you–students, young professionals, teachers. businesses, and organizations–to help. </li></ul>
  26. 28. <ul><li>Please visit our Action Center right now to help us get brass|TV picked up by a major TV network. </li></ul>