Ninety-one percent of Americans believe personal finance should be a required subject to graduate from high school, according to a recent online poll conducted by American Consumer Credit Counseling. This survey comes as teens' knowledge of money, including how to balance a checkbook or check the accuracy of a bank statement, declined from 52 percent in 2007 to 36 percent in 2011. And it's not just parents who are looking for more financial education in the classroom. A recent
While the demand for early financial education is high, there is still a lack of communication about the topic. According to the
"There is a growing financial literacy gap acknowledged by parents and teens alike," said
Of the 337 consumers surveyed in the
Even though a majority of Americans believe that schools should include personal finance training in their curriculum, few schools actually test student aptitude on the subject. According to a survey conducted by the
"Financially literate students translate into financially savvy adults." added Trumble. "There is tremendous value in personal financial education, especially in today's struggling and unstable economy."
The survey also found that many parents are uneasy when it comes to talking to their children about personal finance – only 37 percent of parents talk to their children about personal finance more than once a month.
"Conversations about money aren't easy, especially if you feel that your own financial literacy leaves much to be desired. The lack of conversation, coupled with the absence of classroom training, puts the youth at a significant disadvantage," Trumble added. "But one of the best gifts we can provide our children is to teach them to avoid some of the mistakes that we may have made in our own youth, and to give them the opportunity of a debt-free future."
The online resource provides parents with interactive workbooks and guides to help their children develop healthy financial habits. The program identifies five critical money management steps for each age group, including the value of a dollar, knowing the difference between needs and wants, budgeting, saving, and understanding credit cards. Each stage of the program is accompanied by an interactive workbook that provides parents with important tools and resources to engage their child.
By visiting http://www.consumercredit.com/financial-education/youth-money.aspx parents can access all of the age-appropriate guides for free so that they can start talking to their kids today about topics such as saving, budgeting, and many others.
American Consumer Credit Counseling's certified and experienced counselors offer a variety of financial education, counseling, and debt management services to help consumers achieve long-term financial health and stability. To learn more about these resources or to speak with a representative about what steps consumers need to take before signing up for a credit card, please visit
For more information, contact
• For credit counseling, call 800-769-3571.
• For bankruptcy counseling, call 866-826-6924.
• For housing counseling, call 866-826-7180.
• Or visit us online at ConsumerCredit.com
About American Consumer Credit Counseling
American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management and debt relief through education, credit counseling, and debt management solutions. Each month,
Read the full story at http://www.prweb.com/releases/2014/05/prweb11831295.htm
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