11/1/22- The US Needs Financially Literate Youth: States Can Lead the Way
- November 01 2022
- By: info@njcfe.org
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The US Needs Financially Literate Youth: States Can Lead the Way
October 27, 2022 | thehill.com
Lately, headlines are overflowing with terms such as “recession,” “inflation,” “economic downturn,” and “rate hike.” There is a lot of concern about the status of global and personal finances, which is not surprising given the United States’ recent track record in shattering debt records.
For instance, household debt rose to $16.15 trillion in the second quarter of 2022, up $312 billion from the previous quarter. The increases reflect mortgages, auto loans and credit card balances and they don’t affect everyone equally. Debt is rising faster among younger generations, and people of color are disproportionately affected by student loan debt.
These are complex financial challenges that require solutions from multiple sectors. But there is a key place to start rewriting the headlines — and that’s in K-12 schools nationwide.