Delaware Students Gather to Dialogue about Savings, Spending, Credit and Debt, Predatory Lending, Identity Theft, and Housing Options
Studies show the critical need to provide teens with financial knowledge. Recent findings show: More than 9 in 10 adults & students believe it’s important Americans have a good understanding of economics. However, only 1/2 of high school students say they have been taught economics or personal finance concepts. By the time they reach their senior year, 56 percent of college students carry four or more credit cards, with an average balance of $2,864. Overall average workers between the ages of 25 to 34 must spend 25 cents on every dollar earned on debt repayments. Latest studies show that 20% of Americans spend more than they earn. Teens believe as adults they will earn an average salary of $145,000; in reality, an adult with a bachelor’s degree earned an average of $54,689 in 2005. The number of 18 to 24-year-olds declaring bankruptcy has increased 96% in 10 years.
240 students from Delaware’s high schools will attend The Money School’s Seventh Annual Money Rules Summit for High School Students at Delaware State University (DSU) on Thursday, December 1, 2011.
The Money School partners with the Delaware Center for Economic Education and Entrepreneurship to deliver the daylong Summit program called Money Rules. These rules (learn more, earn more; pay yourself first; save early and often; set goals; and use credit wisely) will help students learn to take control of their personal finances. A special feature of the day is The Money Show presented by professional acting troupe, Theatrical Fusion.
WHAT: MONEY RULES SUMMIT FOR HIGH SCHOOL JUNIORS & SENIORS
WHEN: Thursday, December 1, 2011, 8:30am – 2:00pm
WHERE: Delaware State University, Dover – Martin Luther King, Jr. Student Center
All high schools in Delaware have been invited to send groups of juniors and seniors to this interactive conference focusing on personal finance. 240 students from twenty-four public and private schools are participating in the Summit free of charge. This was made possible through the generosity of presenting sponsor Discover Bank and supporting sponsors Bank or America and State Farm, and through support from DSU’s Center for Enterprise Development and American Century Investments.
For more info contact:
Delaware Financial Literacy Institute ~The Money School, 302.792.1200, info@dfli.org
Karen Graham, Senior Associate Director, karen@dfli.org
Ronni Cohen, Executive Director, ronni@dfli.org