The Cost of Financial Illiteracy

Presents Economic Education COUNCIL FOR THE UNITED STATES OF FINANCIAL & ECONOMIC LITERACY THE COST 30% of 18-24 year old's income goes towards debt repayment. %24 Only 56% of teens plan to save some of their income, down from 89% in 2011 89% 56% 2011 2012 75% of credit card carrying college students were unaware of late payment charges $24K Members of the class of 2009 graduated with an average debt of $24,000 in student loan debt. In 2010, more individuals filed for BANKRUPTCY than graduated from college THE SITUATION The Number of states requiring student testing in economics has dropped from 27 to 16 since 2002 27 (2002) 16 (2011) And only 22 states require a high school course in Economics Only 14 states require a high school course in Personal Finance THE CHALLENGE Fewer than 20% of teachers report feeling competent to teach personal finance topics. 1/3 of parents are more comfortable talking with their kids about smoking, drugs and bullying than money. 81% of college students underestimate how long it will take to pay off a credit card balance. NO BULLYING! PAYMENT SCHEDULE NO DRUGS! NO SMOKING! ΜONΕΥ? Economic Education CouncilForEconEd.org COUNCIL FOR Brought to you by SURVEYOFTHESTATES.COM made @PLUSIGN GROW YOUR KNOWLEDGE, GET THE FACTS.