Monthly Archives: July 2019

Why do some children from low income families take finances to heart?

As usual, I was reading the New York Sunday Times this weekend and read the interview about Ms. Hobson, the finance executive at Ariel Investments. She talked about how she learned about saving, investing, and overall financial literacy when she was a kid. She learned all about money and the value of it even though she came from a single mother run, low income household. It made me think again about why do only some kids from struggling households learn about (and actually implement the lessons) of saving, investing, money, …

College students lack basic financial knowledge

We have written about financial knowledge (or shall we say the lack of it) and another data point shows how much it is lacking. Even college students are struggling to get most basic financial questions correct. In fact it is so bad that only about 1% of students answered 6 basic questions correctly per a 2019 study from Education Technology Online Courses and Training (EVERFI) as well as AIG. The questions are below. The results of the survey of 25,000 students was as follows. Over 10% got them all wrong. …