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Infographic: The Value of Financial Literacy

Students who learn financial literacy skills gain knowledge that will yield returns well into their future.

By Edutopia Staff
Students who learn financial literacy skills gain knowledge that will yield returns well into their future.
Financial literacy pays off. With nearly 20 percent of Americans living beyond their means, education about personal finance is critical. Research indicates that teaching finance to students yields greater money-management skills that carry well into adulthood. 1 out of 5 Americans lives beyond his or her means. Half of Americans do not maintain a budget. Teens spent more than $75 billion in 2011. 35% of high school seniors use credit cards. One in nine people ages 18-24 uses more than 40% of his or her income to pay off debt. Financial literacy can help. High school students who received personal financial education are able to: manage their money better because they have fewer maxed out credit cards, have higher savings, do more comparison shopping, pay debts on time. Between ages 30-49, achieve significantly higher savings and net worth. Sources: Federal Reserve Board, Survey of Consumer Finances 2007. Bernheim, Garrett, & Maki 1997. National Foundation for Credit Counseling
Credit: Illustrations by Jude Buffum


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This article originally published on 4/10/2012

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Comments (4)

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Fred Koch
K-8 Technology Coach, Sauganash Elementary School, Chicago, IL
Posted on 4/7/2013 11:40am

Money Savvy Generation

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Great infographic, thanks!

I love what Money Savvy Generation (www.msgen.com) is doing to help teachers, students, parents and kids with financial literacy.

Be sure to check them out...

Vick
Posted on 12/9/2012 4:40pm

Financial Literacy Advocate

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Great infographic... Have shared it on my facebook page. Recently I cam across a great site for teaching financial literacy http://www.claypiggy.com. I think it is a great resource as well.

Mariko Nobori
Managing Editor and Producer
Posted on 12/4/2012 10:00am

Thanks for sharing your

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Thanks for sharing your infographic, banksforkidsmoney! We tweeted it out to share with others as well.

banksforkidsmoney
Promoter of Financial Literacy for Childrent
Posted on 12/1/2012 2:12pm

Great Resource

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This infographic makes a powerful statement. Thank you for caring about our kids financial education. With the example set by most Americans, it is time to turn the tides and start in the homes teaching our kids the value of money management. it's never too early as you mention - teens are spending $75 million!!

I have also created an infographic on this topic. If you'd like to take a look, you can find it here:
http://banksforkidsmoney.com/infographic/

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