Financial literacy is a growing concern for teenagers of all socioeconomic backgrounds. President George W. Bush signed the Executive Order 13455 on January 22, 2008, creating a council of 16 members to oversee financial issues among college and high school students. This council is represented by corporations, non-profit organizations, faith-based groups, state government agencies, regulatory agencies and academic institutions.
Jump Start Coalition for Financial Literacy is a non-profit organization that provides educators with online and print resources to teach students to manage their finances and to become responsible decision makers. The President’s Advisory Council has used results from the Jump Start Coalition National Survey as well as other surveys to assess the knowledge of college students on money management. The 2008 results of the Jump Start Coalition National Survey for Financial Literacy of High School Students and College Seniors showed that 62.2% passed the 31 question exam. American college students are close to becoming financially literate and will grow with life experience. They need to be familiar with the basic skills of maintaining a budget, balancing credit and saving for the future.
For further information, feel free to access these publications through our Online and Print Journals or Databases, A-Z. Links to websites for additional resources are also listed below.
REFERENCES
Billitteri, T. J. (2009, September 4). Financial literacy. CQ Researcher,19, 717-740. Retrieved September 22, 2009, from CQ Research Online.
Hoffman, M., McKenzie, K., & Paris, S. (2008, September). Paper or Plastic?. CPA Journal, 78(9), 16-20. Retrieved September 23, 2009, from Business Source Premier database.
Steverman. Ben (2009, July). Financial Literacy: The Time Is Now. Business Week (Online), Retrieved September 22, 2009, from ABI/INFORM Trade & Industry. (Document ID: 1806516111).
USA Funds; Financial Literacy Program for College Students Goes Online. (2009, May). Investment Weekly News, 377. Retrieved September 22, 2009, from Banking Information Source. (Document ID: 1700359791).
WEBSITES
2008 Annual Report to the Executive Summary
http://www.treas.gov/offices/domestic-finance/financial-institution/fin-education/council/exec_sum.pdf
Jump Start Coalition
http://www.jumpstartcoalition.org/
Young Investor (Fleet Bank)
www.younginvestor.com
Students.Gov
http://www.students.gov/STUGOVWebApp/Public
Education Finance Council
http://efc.org/cs/root/resources/resources
NSLP Financial Literacy Online
http://www.nslpflonline.org/flonline/flonline.php
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