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Kids & Money

The Good News . . .

bullet Generation Y-70 million of young Americans born between 1980 and 1996-influence a third of all purchasing decisions and directly spends as much as $275 billion a year.
bullet Young people aged 12 to 19 individually spend an astonishing $116 a week on discretionary purchases.
bullet Some 12 percent of adolescents 12 to 17 now own stocks, versus 7 percent two years ago -- that's more than 3 million youths nationwide.

The Bad News . . .

bullet Teenagers have few skills to manage their money and 53% received little or no financial advice from their parents.
bullet The average college student who takes out student loans graduates with a debt burden of $20,000.
bullet Sixty-four percent of college students have credit cards in their own names and 20% have four or more cards.
bullet Twenty-eight percent of college students with a credit card roll over debt each month.
bullet A survey of individuals who filed for bankruptcy in 1997 found that 8.7% of all filings were among young adults ages 18-25.

With young Americans controlling more money, yet still lacking the tools to manage it effectively, we feel strongly that financial education needs to be implemented in our schools. Learning how to mange money, stay out of debt, and save for retirement are essential life skills. America is a nation of consumers and our national household debt has reached a staggering $6.7 trillion. It is time to take financial education seriously and here's what YOU can do:

Teach Your Kids About Money

Don't wait another second-use these Internet resources to start educating your kids (and yourself) about financial planning.

Get Educated!

We're not the only ones concerned about this problem. Read about non-profit organizations like JumpStart Coalition who are devoted to financial literacy as well as what the press has to say about our national financial literacy crisis.

Be sure to check out these other Kids & Money resources:

bullet Moon Jar
bullet Kids' Money
bullet Youngbiz Teens
bullet MoneyInstructor.com
bullet Flying Minds
bullet Family Education
bullet CNN's Kids and Money

Sources: U.S. Securities and Exchange Commission; Teen Research Unlimited, Merrill Lynch



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Mr. Bach, This is a copy of the e-mail I sent Oprah Winfrey. I send my thanks to you as well for making it possible for us to achieve this dream: Today my husband and I took the biggest leap toward making our own 'Wildest Dream' come true, and we have you to thank for it! Last May I caught the last 15 minutes of your program featuring David Bach. I donít think it was just a coincidence that I happened to turn on your show that day. As I watched Mr. Bach the light turned on. I caught the v ... more



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    The views expressed herein are solely those of David Bach and FinishRich Media, LLC., and do not necessarily reflect the views of The Edelman Financial Group or any of its affiliates. Neither theinformation herein nor any opinion expressed herein constitutes or is intended to constitute investment advice or an offer to sell or solicit any person to purchase any security. FinishRich is a trademarked brand used by David Bach and FinishRich Media LLC. and none of David Bach, FinishRich Media LLC. [or The Edelman Financial Group or any of their affiliates] guarantee any financial results or a positive outcome to your personal situation.