It is easier to help instill good money habits early in life than to try to retrain poor spending and saving behaviors later in life.
Researchers at the Wharton School found that
racial and gender disparities in financial literacy
accounted for more than one-third of the growing economic inequalities in America.
Another study found financial literacy accounted for 30-40% of retirement wealth inequality.
Increased knowledge increases wealth.
Almost 70% of 18-24 year-olds have less than $1,000 in savings with almost half of those having nothing saved
Young people without savings are less likely to attend college and credit card debt is correlated to higher college drop-out rates
Almost 80% of millennials are in debt, with the average person leaving college almost $40K in debt
Copyright © 2022 Money Education For All - All Rights Reserved.
NO INVESTMENT ADVICE
The Content is for informational purposes only, you should not construe any such information or other material as financial, investment, professional, legal, tax or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by MEFA or any third-party service provider to buy or sell any securities or other financial instruments.
All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other Content on the Site before making any decisions based on such information or other Content. In exchange for using the Site, you agree not to hold MEFA, its affiliates or any third-party service provider liable for any possible claim for damages arising from any decision you make based on information or other Content made available to you through the Site.
Powered by GoDaddy Website Builder