It recently came to my attention that a growing number of large employers have teamed with Operation Hope to address, what they believe is one of the country’s greatest challenges: the lack of knowledge and understanding of how money, and everything that revolves around it, works. The coalition, “Financial Literacy for All”, hopes to reach tens of millions of young people and working adults over the next ten years, enabling them to achieve greater financial success for themselves and their families.
The course outline for young adults is impressive and addresses such financial essentials as:
- Developing a philosophy about money
- Banking and saving
- Using credit cards
- Understanding income taxes
- Retirement accounts
- Insurance/risk management
- Purchasing a car
- Purchasing a home
- Establishing multiple income streams
- Setting short and long-term goals
It is almost impossible to overstate the importance of financial literacy in everyday life. The participants in the program are to be commended and worthy of support.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA®