Huff Post: Financially Speaking — Are We an Illiterate Nation?

It is a constant source of amazement to me that in the United States, arguably the center of the capitalist system, we fail to educate much of our youth in the most rudimentary of macro and personal economic principles.

Financial literacy, which I would define as: A sound knowledge of the basic underpinnings of our economy along with personal financial skills including budgets, checking accounts, saving and investment options, credit, interest rates, credit reporting agencies, credit scores, revolving credit, mortgage and installment loans, secured and unsecured credit, liens, chattels, and garnishment and taxes (state, local and federal). Additionally, I believe financial literacy should also encompass insurance: auto, life, health, health accident, whole life, term life and the various credit insurance products available in the market place.

Read more…

Tags

Leave a Reply

Your email address will not be published.

top

Teach me how to improve my finances, 

so that I can buy a home

and stop wasting my money on rent