Letter: Consumers need to learn early about basic money management

Category: Basic Money Management Published: Tuesday, 30 December 2014 Written by Admin

To the Times:

The CPA profession has been championing the cause of financial literacy for more than a decade. Through volunteer programs, the Pennsylvania Institute of Certified Public Accountants has partnered with libraries, schools, local media and legislators to provide guidance on basic personal financial planning principles. We have reached thousands of individuals through these efforts, but this is not enough. A more integrated education plan is needed to teach consumers, at a very early age, some basic money management principles.

The numbers tell a frightening tale. Consider the following:

#x2022; According to the Project on Student Loan Debt, the majority (69 percent) of students graduating from public and nonprofit colleges in Pennsylvania had student loan debt with an average of $28,400 per borrower in 2013.



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