|(c) Copyright 2009-2012, Lonnie K. Jones|
|.Q1: Did you realize that the majority of children are financially illiterate?|
|A1: Recently 4,000 students were surveyed about personal finance and 68% of the students negatively responded to the survey.|
|.Q2: When school starts, how many credit cards are offered to college freshmen?|
|A2: Freshmen are offered an average of 8 credit cards during their first week of school. 45% of the students keep the credit cards and incur debt. They graduate with an average of $28,000 in debt, which consists of loans and credit cards.|
|.Q3: How much time does it take for children to learn about finances?|
|A3: Research has shown that with as little as 10 hours of financial education the spending and saving habits of students can be positively impacted.|
|Spending in the U.S. by teens was over $175 billion in 2001, which is equals to all Mexico's exports. These students spend 98% of money they receive as gifts, allowances, and/or part-time earnings.|
|Some university administrators report that they lose more students due to credit card debt than to academic failure.|
|A few reasons parents say they haven't discussed saving and investing information with their children:
> Children are too young to worry about it.
> Parents admit to not knowing much about it.
> Parents are too embarrassed about their own finances.
> Parents had more important things to teach their children.
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