The Huffington Post – Chris Mettler
“In its most basic form, financial literacy is the ability to understand how money works — but it’s definitely not that simple. In order to know how to earn, manage, invest, and save money as an adult, you must first learn the basics when you’re young…Over the course of a little over three years, the National Financial Educator’s Council administered a national financial literacy test to 4,916 youth between the ages of 15 and 18, from more than 40 states in the United States. The average score was 60.08 percent. In any standard “classroom” 60.08 percent would be a failing grade. Consider this: If you failed out of medical school, would you be equipped to perform surgical procedures? No. So why are we sending our children out in to the world without the tools they need to make responsible financial decisions — some of the most important decisions they will make in their lives? Financial literacy and education is vital to achieve independence and ultimate prosperity in the real world…I spoke to a number of financial experts and some everyday people to compile the top ten ways that parents and kids can start to improve financial literacy today.”(more)