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Only 15% of students surveyed said that they had taken a portion of a course (at least a week) in money management or personal finance.
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(Source: Jump$tart Coalition, 2002)
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Only 7% of parents say their child understands financial matters well.
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(Source: ASEC)
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Only 21% of students between the ages of 16 and 22 say they have taken a personal finance course through school.
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(Source: ASEC)
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Only 26% of 13 to 21 year olds reported their parents actively taught them how to manage money.
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(Source: ASEC)
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Research has shown that as little as 10 hours of personal finance education positively affects students spending and savings habits.
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(Source: NEFE, 1998)
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A study of 1,065 teens found that 21% of 18 and 19-year-olds have credit cards.
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(Source: Junior Achievement, 2005)
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The average 21-year-old in the U.S. will spend more than 2.2 million in their lifetime.
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(Source: Share-Save-Spend.com)
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40% of Americans say they live beyond their means.
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(Source: Fort Worth Business Press, 2002)
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The average household with debt carries approximately $10,000 to $12,000 in total revolving debt and has 9 credit cards.
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(Source: Jump$tart Coalition, 2005)
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50.8% of college-age adults agree with this statement: I have experienced repeated, unsuccessful attempts to control, cut back or stop excessive money use.
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(Source: MyVesta, 2002)
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In 2005, savings rates dipped to -0.5%, something that hasn?t happened since the Great Depression in 1932 and 1933. A negative savings rate means that Americans spent all their disposable income and dipped into past savings or increased their borrowing.
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(Source: U.S. Commerce Department, 2006)
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Americans shelled out more than $24 billion in credit card fees in 2004, an 18% increase over the previous year.
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(Source: Cardweb.com, 2005)
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University administrators state that they lose more students to credit card debt than to academic failure.
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(Source: Utah Mentor, 2003)
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The number of 18 to 24-year-olds declaring bankruptcy has increased 96% in 10 years.
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(Source: Richmond Credit Abuse Resistant Education Program)
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In 2002, more people filed for bankruptcy than graduated from college in 2002.
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(Source: U.S. Department of the Treasury)
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Personal bankruptcies nearly doubled in the past decade, including more than 1.6 million people who filed for personal bankruptcy in 2003.
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(Source: Annual Hawaii Economic and Financial Literacy Conference, 2004)
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Home foreclosures in 2002 reached the highest rate in 30 years.
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(Source: Senate Resolution 48, 2003)
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50% of high school graduates do not go to college and enter the workplace directly.
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(Source: Fort Worth Business Press, 2002)
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Bankruptcy filings for those in the 18 to 25-year age group were at an all time high in 2000- numbering almost 150,000 which is a tenfold increase in just five years. This is the fastest growing age range for bankruptcies.
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(Source: Louisiana State University Agricultural Center)
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Between 25 million and 56 million adults are unbanked (i.e. not using mainstream, insured financial institutions.)
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(Source: Oversight Hearing on Financial Education and Literacy, 2004)
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