The Affect On Our Youth
According to The Urban Institute, financial literacy is almost non-existent for teenagers in high school and college in under-resourced neighborhoods. Despite the fact that financial decision-making is more complex today than ever before, 26 states have no financial literacy requirements at all in their K-12 education systems. Only four states mandate that students take a personal finance class in high school.
The Affect On Our Youth
According to The Urban Institute, financial literacy is almost non-existent for teenagers in high school and college in under-resourced neighborhoods.
Despite the fact that financial decision-making is more complex today than ever before, 26 states have no financial literacy requirements at all in their K-12 education systems. Only four states mandate that students take a personal finance class in high school.
Wealth Inequality In America
According to CNNMoney, White Americans have 13 times more wealth than blacks. The median household net worth for whites was $141,900 in 2013, versus $11,000 for blacks, according to recently released CNN study.(The numbers below are a representation of dollars.)
White
Hispanic
Black
U. S. Census data issued July 2010 indicate that African-Americans and Hispanics report having less than $10,000 in savings. The 2010 Ariel/Hewitt Study reflects that in its highest income bracket ($120,000 and above), 31 percent of African-Americans and 20 percent of Hispanics reported outstanding loans. In contrast, 13 percent of white employees and 8 percent of Asian employees had outstanding 401(k) loans.
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Join the Tackle to learn about credit, investing, entrepreneurship, and much more. You have unlimited access to all classes to develop your financial mind. One powerful program starting at $4.99/month (reduced from $14.99/month).
Join Us.
Join the Tackle to learn about credit, investing, entrepreneurship, and much more. You have unlimited access to all classes to develop your financial mind. One powerful program starting at $4.99/month (reduced from $14.99/month).