What Youth Can Learn from the Financial Crisis

Check out this article by David Paltin, Child Pyschiatrist, on the Child Development Institute website all about teaching children & teens about finances and using the recession to explain key concepts on budgeting:

“The statistics on the problem are staggering — 1 in 3 high school teens use a credit card, the average debt of an entering college freshman is $1,585. According to the 2010 Junior Achievement and Allstate Foundation survey of teen finance, 42 percent of teens who do not budget their money do not want to learn about budgeting, while 74 percent of teens say they will have a credit card by the time they enter college. Can we assume that our kids have learned anything from the recession and economic crisis, or have we missed one of the most ”teachable moments” of their lives?”

Read the full article on the Child Development Institute website.