Personal Finance 101 (cont’d)

Wouldn’t it be best if all consumers had a basic, sound understanding of personal finance? [Maybe then you would not need the creation of a federal consumer financial regulatory agency.] Wouldn’t it be terrific if, as part of the public education curriculum, students are taught the ABCs of personal finance?  But no, for some reason, society has not deemed a sound personal financial background beneficial to local communities and the nation as a whole.

For some reason the approach to educating individuals about personal finance is a sink or swim mentality or a pull yourself up from the bootstraps approach.

And not many employers take the initiate to provide any personal finance education and/or counseling.  I remember years ago I worked at the museum shop at the National Museum of American History (Smithsonian Institution). I learned that employees of the Smithsonian Institution were eligible to join the Agriculture Federal Credit Union (“AFCU”).  I began speaking with a colleague about the benefits of joining AFCU and why this credit union is better than a bank.  A supervisor overheard my conversation and told me to discontinue such a discussion.  I was frankly annoyed with my supervisor.

How are some people ever going to learn basic, sound personal finance principles?  A lot of people don’t want to bother with reading a book.  Plus reading the book doesn’t provide you any feedback.  Talking one-on-one with someone is a lot more helpful.

If a course of personal finance is not offered at your child’s school, by the local community college or some program offered through your employer, PUSH and ADVOCATE for such a program.

We ALL benefit when individuals are knowledgeable about personal finance issues.


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