FinancialLiteracy
More than half of 15-year-old teens have tried alcohol at least once and one in four has smoked a cigarette, new data from the World Health Organization (WHO) shows. Moreover, one in five has smoked an e-cigarette in the past 30 days, according to a survey of nearly 280,000 teenagers, both male and female in Europe, Central Asia and Canada. The Health Behaviour in School-aged Children Study (HBSC) is administered in schools every four years. “The widespread use of harmful substances among children in many countries across the European Region - and beyond - is a serious public health threat,” D...
Euronews (English)
A third of Europeans do not understand how inflation works, according to a survey by Eurobarometer. The same survey revealed only 18% of EU citizens were able to show a high level of financial literary. According to the survey, 65% of EU citizens are aware that, in times of positive inflation, the purchasing power of their money decreases, meaning they can buy less than they could before with the same amount of money. Lack of knowledge about inflation could be seen as concerningIn October 2022, the annual inflation in the EU reached levels not seen before in the previous four decades at 11.5%....
Euronews (English)
Financial literacy is a critical skill. However, it’s more difficult to understand how money works than ever before. That’s not to say that there aren’t opportunities to generate wealth. On the contrary, Gen Zers have proven that it’s possible to exercise an entrepreneurial spirit in the 21st century more than ever before. However, the complexities involved with money management are intimidating. Along with classic concepts like income and expenses, those learning about finances must grasp things like digital currency, credit scores, online banking, and a host of other non-tangible items. This...
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According to Bankrate, only 48 percent of U.S. adults have enough emergency savings to cover three months of expenses. Additionally, only 43% of U.S. adults would use their savings to pay for an unexpected emergency expense. Even worse? 36% of Americans have more credit card debt than emergency savings as of January 2023, the highest figure since 2011. Among those who have emergency savings, 51% have more than they owe on their credit cards. Why is this such a big deal? In the absence of an emergency fund, you are at risk of being financially at risk. Is your vehicle in need of a new brake lin...
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Money is a foundational part of our lives. But it’s also a subject many children are expected to understand intuitively just by watching their parents when they’re young. The result is that many children don’t learn about more complex financial concepts until they’re teenagers or young adults. Seasoned investors know that having more time is a huge benefit. It’s, therefore, essential to teach your kids earlier than later about important personal finance concepts that will earn them extra wealth in the long run. If you’re a parent or guardian trying to fill the gaps in your child’s understandin...
ValueWalk
It is pretty common for parents to shy away from discussing money matters with their children due to cultural or societal norms that have been ingrained in them over time. However, this approach can do more harm than good in the long run. Entrepreneurial children who are shielded from discussions about money often grow up with a lack of understanding and knowledge about financial decision-making. This often leads to poor financial choices, which can cause financial insecurity, stress, and long-term financial struggles. Therefore, it is essential to break away from the taboo surrounding money t...
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Tim Pawlenty, president and CEO of Financial Services Round Table and former governor of Minnesota, once said, “Financial literacy is an important part of avoiding financial mistakes and planning for a strong, secure financial future.” He might not have realized it at the time, but this quote is spot-on. In a survey conducted by the National Financial Educators Council, 38% said their lack of financial literacy set them back at least $500 in 2022. And, this also includes the 15% who said it set them back by $10,000 or more. For comparison’s sake, in 2021, it was about 11%. Q4 2022 hedge fund l...
ValueWalk
Tim Pawlenty, president and CEO of Financial Services Round Table and former governor of Minnesota, once said, “Financial literacy is an important part of avoiding financial mistakes and planning for a strong, secure financial future.” He might not have realized it at the time, but this quote is spot-on. In a survey conducted by the National Financial Educators Council, 38% said their lack of financial literacy set them back at least $500 in 2022. And, this also includes the 15% who said it set them back by $10,000 or more. For comparison’s sake, in 2021, it was about 11%. Poor financial liter...
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Managing your personal finances involves managing both short- and long-term aspects of your finances. It also refers to an industry that offers products and services to help individuals manage their finances and investments. But, if you’re new to personal finance, all that may not mean much to you. So, let’s explain why personal finance is important, its five areas, and its fundamental principles. Why is Personal Finance Important?Financial planning is important for managing your day-to-day needs as well as ensuring your financial security in the future. Generally, people who spend more than t...
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Money management is an important life skill that everyone should learn. Unfortunately, many people go through life without ever learning about personal finance. That’s why it’s important to start teaching your kids about money early on. There are a lot of great financial literacy books for kids and teens out there. The 7 books below are some of the best. They cover topics like budgeting, investing, and saving money. They’re also engaging and informative, which makes them perfect for teaching your kids about personal finance. So, if you’re looking for a way to start teaching your kids about mon...
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