Savings

21 states with financial literacy requirement of students

While the number of states that are mandating high school students take a financial literacy course/curriculum prior to graduating is increasing, there are still only 21 states that require it. Now if a school wants students to take English Literature and learn about Shakespeare, I have no problem with that, as it is good to know. But I am very confident that knowing what a budget is (gross income, expenses, etc.), understanding what compound interest is, knowing how to determine a income tax bracket, importance of emergency savings, difference of …

Individual financial accountability and poor economic decisions

I was reading the NY Sunday Times and there was (in my opinion) an interesting, thoughtful article on financial accountability. The bottom line of this article, and many others I have read over the months, is how most people lack accountability for their financial problems and past, poor economic decisions. While I wish there were stats on this particular topic, it is more a subjective matter, but one in which I fully agree with and that is that Americans lack accountability for the poor financial and economic decisions they make …

Save $1 a day to become a millionaire

Yes, it is possible to save $1 per day, or $365 per year, and become a millionaire in your early 60s. The catch is that you need to do this from very, very early in life. Even as far back as for a newborn baby or a child under 5 years of age or younger. The concept is really for an adult saving a dollar a day for a newborn, whether a child, grand-kid, niece, nephew or someone else. If you start saving for someone when they are one year …