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My suggestion: Redirect part of that money into educational programs to teach the younger generation about adjustable-rate mortgages, credit cards, investing and other financial skills.
It may not be the American way, but I think it's far better to prevent the problem than to try to fix it after the damage has been done. And while it may be difficult to prove, I think exposing students to financial education before they graduate from high school will save society money in the long run from the likes of credit card woes, bankruptcies and family stress brought on by money issues.
Read more: Pare subprime bailout -- invest in schooling youth
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Activities for America Saves Week 2009 are being coordinated by the America Saves campaign and by the American Savings Education Council, who are working with a large coalition to promote the savings message and foster better savings behavior. Among the many companies, agencies and organizations committed to participating are the Cooperative Extension Service, WorldatWork and the Department of Defense.
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Read more: America's High School Students are Invited to Take The Challenge!
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October 17, 2008 - (An opinion from CAJump$tart Advisory Group member Elisabeth Donati, Founder of Creative Wealth International) - Three years ago we started offering our Camp Millionaire (formerly The Money Camp) to girls-only in addition to our coed programs. This past summer (2008) we also tried our hand at boys-only. Boy, what a difference a gender makes, no pun intended.
I have done a tremendous amount of reading and research and as much observation with regard to money and gender; specifically, the difference in how women and men 'look' at money and what it means to each of us. Pretty interesting stuff. I thought perhaps you'd find it interesting as well. I'm going to talk about kids first and then I'll talk about adults (us big kids).
Read more: Financial 'Genderalizations': Money and the Sexes
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October 2, 2008 -- (An opinion from CAJump$tart Advisory Group member Lori Mackey, Founder Prosperity4Kids, Inc.) -- How you talk to your kids about the financial crisis depends on how it is personally affecting your family. Children do not have enough knowledge about money and the financial crisis to understand what is going on. This is a complicated issue for the majority of kids and they will have a hard time understanding. However, no matter what your child knows, take this time to assure your children that you are there to protect and take care of them. Children did not create the problem adults did. The lesson for parents is to take this time to start teaching your children differently when it comes to money!
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To the Members of the California State Assembly:
I am returning Assembly Bill 1502 without my signature. While I acknowledge that teaching students the importance of financial literacy is meritorious, school districts already have the flexibility to incorporate money management into their lesson plans. Moreover, the State Board of Education adopted content standards are developed by a diverse group of experts and are intentionally broad in order to allow coverage of various events, developments, and issues. I continue to believe that the State should establish rigorous academic standards and frameworks, but refrain from being overly prescriptive in specific school curriculum. For this reason, I am unable to sign this bill.
Sincerely,
Arnold Schwarzenegger
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September 3, 2008 - (New York) -- The Peter G. Peterson Foundation (website) today announced several initiatives leveraging new media, popular media, and other innovative means to engage young people and the business sector in the growing challenges that threaten our financial future, and mobilize them to take corrective action. America is currently burdened with $53 trillion in obligations - $175,000 per American - due to its addiction to debt, near-zero national and personal savings rates, and rising costs for health care and programs like Social Security and Medicare.
These efforts include the purchase of the feature documentary "I.O.U.S.A.," an early version of which premiered at the Sundance Film Festival and which will be released in select cities in August 2008. They also include $5.27 million in grants to support the creation of new tools to help young people learn about public and personal finance, and to enable citizens and business leaders to demand change from their elected officials.
Read more: The Peter G. Peterson Foundation Today Announced Several Initiatives
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Members From Bay Federal CU and Greater Nevada CU Receive $500 Scholarships for College
July 23, 2008 - The California and Nevada Youth Involvement Network (CNYIN), a volunteer organization supported by the California and Nevada Credit Union Leagues, has awarded $500 scholarships to three high school and college students from California and Nevada for winning entries in the Network’s annual essay contest.
Read more: THREE STUDENTS RECEIVE CALIFORNIA AND NEVADA YOUTH INVOLVEMENT NETWORK SCHOLARSHIPS
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January 22,2008 - Washington, DC, President George W. Bush today signed an executive order that established the President’s Advisory Council on Financial Literacy within the U.S. Department of Treasury. Laura Levine, executive director of the Jump$tart Coalition® for Personal Financial Literacy, has been appointed to the Council and was at the White House for the announcement today.
Read more: Jump$tart Executive Director Appointed to President’s Council on Financial Literacy