Do You Have to Be Financially Inept to Go Broke?

recordnumbersgoingbroke 425x250 Do You Have to Be Financially Inept to Go Broke?

Why do I keep reading, especially during financial literacy month,  statements like this from respected journalist and personal finance experts all across the blogosphere; the next generation is growing up as financially inept as the last.

Does anyone really believe that every person over the last 2 decades of this “so called” financial literacy movement that have “crashed and burned” like I did were financially inept? Do you really think no Doctors or Lawyers, or Educators or PhD’s have filed for bankruptcy or had their homes foreclosed on over the last 2 decades?  Of course they have! And many were financially literate by any benchmark set by the financial literacy movement – and I know this first-hand!  Yet it still didn’t prevent them from going broke!

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Is The Financial Literacy Movement Just an Illusion?

Crash and Burn Is The Financial Literacy Movement Just an Illusion?

Let’s start with some basic history about the financial literacy movement;  in the United States, the movement really started to pick up steam in 1995.  That’s when former Chairman and CEO of Ford Motor Credit, William E. Odom, was credited with the concept that led to the formation of the Jump$tart Coalition.  And no; that’s not a typo in their name.  The S they use is really the key for money $!

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Teach More Financial Literacy? I Don’t Think So!

Mountain Top Screamer 1024x1024 Teach More Financial Literacy? I Don’t Think So!

Yes folks; Financial Literacy Month is almost upon us once again and here come the “mountain top screamers”.  You know them, right?  They’re not too hard to find; just Google Financial Literacy and hundreds of non-profits, politicians, and personal finance guru’s pop up shouting from the mountain top “Teach more financial literacy!”

Here, let me help you:

Wichita legislator Rep. Melody McCray-Miller, a Democrat, says she’s working on a proposal to make sure schools teach children about personal finance from kindergarten through the 12th grade

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