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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 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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Success Stories

Real Advice, Real People, Real Results.

David, This does not sound like much but it provided some important assistance to me. I recently retired from the US Navy and after some time searching finally got a job working in the Bahamas three weekends a month. I commute from my home in Jacksonville, Florida, to West Palm Beach and then they fly me over for the weekends. Everything is paid once I get on the flight. Thinking about what you said in your book about getting a raise applied directly to me. The salary is ok, @$32,000.00 for ... more

- Michael Craig
Orange Park, FL

Orange Park, FL

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Start Late, Finish Rich

In Start Late, Finish Rich, David Bach takes the "Finish Rich" wisdom that has already helped millions of people and tailors it specifically to all of us who forgot to save, procrastinated, or got sidetracked by life's unexpected challenges.


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    Advisory Services offered through Edelman Financial Services LLC. Securities offered through Sanders Morris Harris Inc., an affiliated broker/dealer, member FINRA/SIPC

    David Bach is Vice Chairman of Edelman Financial Services LLC, a Registered Investment Advisor. He is an Investment Advisor Representative who offers advisory services through EFS and a Registered Representative of (and offers securities through) Sanders Morris Harris Inc., an affiliated broker/dealer, member FINRA/SIPC