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Personal Finance Education

All articles tagged with #personal finance education

personal-finance1 month ago•22 min saved

Impostor scams are draining billions—here’s how to spot them

Washington Post columnist Michelle Singletary notes impostor scams have already defrauded Americans of about $1.8 billion this year, sharing a real-case where a church member nearly wired $48,500 to a fake IRS account. The piece then outlines red flags and practical steps to protect yourself: verify wire requests with your bank through official channels, resist urgent pressure to transfer money, and involve trusted allies (like church staff or family) to verify before acting.

via The Washington Post|

#banking-and-credit #fraud #impostor-scams

education2 years ago•2 min saved

Financial Literacy Education Becomes Mandatory in More States

Seven states in the US, including Alabama, Iowa, and Virginia, have received an "A" grade for requiring high school graduates in the class of 2023 to take a personal finance course before graduation. By 2028, 23 states are projected to earn an "A" as more laws and policy changes are implemented. The increase in states requiring financial literacy education is partly due to the Covid-19 pandemic, which highlighted the financial vulnerability of many Americans. Studies show that personal finance education can significantly improve young adults' financial behaviors. However, four states, including California and Massachusetts, received failing grades for having "virtually no requirements" for personal finance education. Advocates in these states are working to change the laws to ensure all students receive financial education.

via CNBC|

#advocacy #education #financial-literacy

personal-finance3 years ago•3 min saved

Avoid These Common Money Mistakes and Achieve Financial Freedom

Many Americans get basic financial concepts wrong, such as believing that carrying a small balance on their credit card each month will improve their credit score. In reality, carrying a balance can lower your credit score and credit cards are one of the most expensive ways to borrow money. Financial education is crucial, and schools are starting to require personal finance courses before graduation. Studies show that students who take personal finance courses are more likely to make better financial decisions as adults, such as tapping lower-cost loans and grants for college, having better credit scores, and being less constrained by debt. However, managing money can still be complicated, and using available technology can help.

via CNBC|

#budgeting #credit-score #debt-management