April 23rd, 201931127
Money has been changing and evolving for the past several years – and so, too, should the way we teach money to our kids.
Your parents likely sat you down for a lesson on balancing a checkbook, but the same lesson won’t help your 21st century kid navigate a financial world made up of credit cards, mobile wallets and online shopping.
Don’t panic. It’s not as complicated as it sounds.
Here are some fool-proof ways to get your kids financially savvy in an increasingly cashless world.
It starts with real money. It’s important for young kids to learn and understand that real money lies behind each of the swipes of your...
April 19th, 201929218
As a parent in the 21st century, you probably understand by now that it’s important to teach your kids how to handle their personal finances.
You’ve heard the statistics over and over again. Students are graduating high school with little or no knowledge of financial literacy. According to a Forbes article, 40 percent of young adults are going into debt funding their social lives while 70 percent are damaging their credit ratings shortly after college graduation.
So you get it – schools aren’t teaching our kids the financial literacy skills hey need to navigate the real world. That means it’sup to the parents. Great....
April 16th, 201929197
The following blog post was written by the Iowa Credit Union League.
According to NerdWallet’s annual analysis of U.S. household debt, the total debt held among American households (including mortgages, auto loans, HELOCs, student loans and more) reached $13.51 trillion by the end of 2018. Further, among the graduating class of 2018, 69% of college students took out student loans, and graduated with an average debt of $29,800.
Debt is daunting and makes individuals feel like being debt-free is an unrealistic dream. But it doesn’t have to be. By teaching and encouraging your children to responsibly manage money from very early on,...
April 10th, 201954169
U.S. consumers saw an increase in prices in March, according to an article in the Wall Street Journal.
"The consumer-price index, which measures what Americans pay for household items such as bluejeans and services such as eye care, increased 0.41% in March from the prior month, the Labor Department said Wednesday," according to the WSJ article. "Excluding the volatile food and energy categories, the so-called core prices rose just 0.15% from February."
For more information, read the full Wall Street Journal article here.
...
April 8th, 201970200
Not all Georgians feel the strain of poor financial understanding, but as a whole, the state’s financial literacy could use improvement.
According to the National Center for Education Statistics, the United States does not excel in financial literacy. The latest available data from the center’s Program for International Student Assessment shows that the average 15-year-old in the United States tends to score lower on a financial literacy assessment than the average teen in China, Belgium, Canada, Russia, the Netherlands and Australia.
Georgia isn’t the worst of the states when it comes to financial literacy – but it’s not...
April 3rd, 201926106
This post was written by Tina Ramos-Ingold from the California Credit Union League.
One of the best ways to ensure your children grow up financially fit is to give them practice at managing money. And one of the tools parents use is an allowance. But how should you handle an allowance? Here are three suggestions:
Decide the amount. Figure out how much you will pay your children and when (every week, biweekly, monthly). And then let your child know what he or she will pay for with the allowance. You might decide to pay for needs such as school supplies or sports equipment, while they can use the allowance for “fun”...
March 4th, 201931162
On average, Georgians consider themselves adept at protecting their personal information – but research suggests that may not be enough to keep identity thieves at bay.
According to a Georgia Credit Union Affiliates survey featuring about 3,400 respondents, about 85 percent consider themselves to be well-informed consumers when it comes to protecting themselves from identity theft.
That fits with the national trend. Across the U.S.,consumers have become increasingly aware that their personal information needs protecting. Since stories about data breaches have become a regular part of the news cycle after the Equifax breach, the...
February 5th, 201960678
This article was written by Sara Watkins for GCUA
About 20 years ago, a small group calling itself the African-American Credit Union Coalition held its first official annual meeting in St. Louis, Mo.
The AACUC wasn’t entirely new. The group began informally meeting at the CUNA Governmental Affairs Conference throughout the 1990s, discussing ways to spread diversity in the credit union industry.
This past year, that group held its 20th annual conference. From the outside,the AACUC appears different from that small group that met in St. Louis. It now has a membership made up of 253 individuals, 63 credit unions, five leagues,five...
February 1st, 201928204
Georgians, like most Americans, entered 2019 hoping to better their finances – but many have likely already fallen off track.
In a Georgia Credit Union Affiliates survey of more than 3,000 Georgians, 52 percent said their new year’s resolution was to get on a budget.
That statistic isn’t surprising; many Americans looked critically at their financial situations as they headed into 2019. Statista, a platform providing statistical data on a variety of topics, polled 2,000 people about their New Year’s resolutions in early January. The survey found financial goals were the fourth most popular New Year’s resolutions, falling...
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