(c) Copyright 2009-2012, Lonnie K. Jones
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.Q1: Did you realize that the majority of children are financially illiterate?
A1: Recently 4,000 students were surveyed about personal finance and 68% of the students negatively responded to the survey.
.Q2: When school starts, how many credit cards are offered to college freshmen?
A2: Freshmen are offered an average of 8 credit cards during their first week of school. 45% of the students keep the credit cards and incur debt. They graduate with an average of $28,000 in debt, which consists of loans and credit cards.
.Q3: How much time does it take for children to learn about finances?
A3: Research has shown that with as little as 10 hours of financial education the spending and saving habits of students can be positively impacted.
Spending in the U.S. by teens was over $175 billion in 2001, which is equals to all Mexico's exports. These students spend 98% of money they receive as gifts, allowances, and/or part-time earnings.
Some university administrators report that they lose more students due to credit card debt than to academic failure.
A few reasons parents say they haven't discussed saving and investing information with their children:

> Children are too young to worry about it.
> Parents admit to not knowing much about it.
> Parents are too embarrassed about their own finances.
> Parents had more important things to teach their children.
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