Here are some stunning stats to think about regarding financial literacy:
-62% expect of college graduates will have a student loan debt averaging $27,236 (Student Monitor)
-Only 11% of workers under 35 years of age indicate they are participating in their company's 401(k). (American Institute of Certified Public Accountants)
-40% will never gain a net worth in excess of $10,000 (American Dream Education Campaign)
-In most cases, economics and personal financial literacy programs are elective classes so “only 12% of Americans graduate from high school having learned anything about money at all.” (FoxNews.com)
-Less than one-quarter of students and only 20% of parents say students are very well prepared to deal with the financial challenges that await them after graduation. (KeyBank)
We spend so much time trying to fix bad habits in teens, young adults and adults. It's not working! When are we going to realize that the lion's share of our focus must be on the children. We must be good habits in our young children.
Still don't believe me? Please read this.