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Financial Literacy Slide Show

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Unprepared for “The Real World”

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74% of parents of high school students were more concerned about their

children “developing good personal financial skills” than “following the

wrong crowd” or “drugs/and alcohol use.”

[Practical Money Skills for Life, Visa USA 2005 National Back to School Survey]

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“Only 26% of 13-to 26-year olds reported their parents actively taught them how

to manage money.”

[Statement on the Introduction of Credit Card Bill of Rights, Senator Menendez,

April 2006]

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“The greatest single source of money for teens is gifts, 54%, up from 47% in 2006. 52% say they simply “ask for

money from my parents or guardians when I want or need something.”

[Charles Schwab Teens & Money 2007 Survey]

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Young Americans now have the second highest rate of bankruptcy, just after

those aged 35 to 44.

[Demos: A Network for Ideas & Action, "Generation Broke Report" 2004]

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University administrators state that they lose more students to credit card debt

than to academic failure.

[Junior Achievement Organization, 2004]

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When young adults ages 18 to 25 were asked to name the most important problem facing them in their lives

today, the highest response (30%) was financial issues including bills, debt

and the cost of living.

[Pew Research Center, 2007]

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People in the 18-to-24 age bracket spend nearly 30% of their monthly income just

on debt repayment.

[Demos: A Network for Ideas & Action, “Generation Broke Report” 2004]

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Money in the Classroom

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76% of parents said that schools should be required to teach money

management skills.

[Practical Money Skills for Life, Visa USA 2005 National Back to School Survey]

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Only 21 of 50 states actually implement legislation for financial literacy

standards. While nine states require student testing in personal finance, only seven states actually require

students to take a personal finance course in high school.

[National Council on Economic Education, 2005]

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In a recent survey, 76% of college students wished they had more help preparing for their financial future.

[The Hartford Financial Services Group, 2007]

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A Growing National Problem

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The average household with debt carries approximately

$10,000 to $12,000 in total revolving debt and has 9 credit cards.

[Jump$tart Coalition for Personal Financial Literacy, “Making The Case for Financial

Literacy-2005”]

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In 2005, savings rates dipped to minus 0.5 percent, something that hasn’t

happened since the Great Depression.

[US Department of Commerce, 2006]

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The Solution

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brass has a taken a giant step in the right direction by providing content,

information, inspiration and resources where young adults need them most.

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But we can’t do it alone.

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We need you–students, young professionals, teachers. businesses,

and organizations–to help.

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Please visit our Action Center right now to help us get brass|TV picked up by a

major TV network.

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PICTURE

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