Money Counts: Young Adults And Financial Literacy
Saving money doesn't have to be complicated, says financial adviser Beth Kobliner. The main point is for young people to get started early, she says.
For many 20-somethings, financial independence marks their arrival at adulthood. But it can be a hard place to get to if you're also shouldering a lot of debt.
May 18, 2011 For their parents' generation, finances seemed relatively simple — the economy was good, money was flowing. Today's youth, though, live in a tougher economic climate, so many are learning to budget better and earlier. And new technologies — from home software to mobile apps — are advancing their money smarts.
May 17, 2011 At Finance Park, eighth-graders are playing grown-ups — for class credit. The park is a real world mock-up where schools bring kids to learn financial literacy. The teens shop for groceries, buy cars at the dealership, even pick cable plans at a faux Verizon Store — all while trying to stay on a budget.
May 17, 2011 A request on NPR's Facebook page asking people to share the most valuable financial lessons of their youth brought more than 1,400 responses. Many wrote about the importance of saving money starting at an early age. Others talked about avoiding debt — especially credit card debt.
May 16, 2011 For many high school and college seniors, graduation is a time of new beginnings and harsh realities. Their thoughts are turning to money — for tuition, rent and credit cards. The choices they make now about debt and finances could be with them for years to come.
May 16, 2011 The amount of money Americans owe on student loans recently exceeded the nation's credit card debt. That may lead one to ask: Is it smart to borrow a lot of money to go to college? Student financial aid expert Mark Kantrowitz says college debt is OK — if you're careful.
May 13, 2011 A steady savings plan can produce dramatic results. If you put aside $100 a month starting at age 20 and keep at it, you'll accumulate more than $114,000 by the time you're 65. That assumes a 3 percent interest rate. If you sock away $250 a month and rates go up to 5 percent, you'll end up with more than $500,000. Plug your own numbers into this calculator.