In the aftermath of the global financial crisis, financial literacy is still low among young adults. According to a new study published in the Journal of Consumer Affairs Links of London Sweetie Bracelet with Three Charms, only twenty-seven percent of people aged 23-28 can answer three basic questions about interest rates, inflation, and risk diversification Links of London Charm Necklace, and other basic financial concepts.See Also:Computers MathMathematical ModelingStatisticsComputer ProgrammingScience SocietyEconomicsEducational PolicyFunding PolicyReferenceMicroeconomicsIdentity theftComputer insecurityExperimental economicsFurthermore Links of London Adjustable Length Pendant Chain, this result was amplified when studying the answers of young women Links of London Sirens Reaf Earrings, African-Americans, and Hispanics, and those with low educational attainment. The results were compiled from a national study Links of London Charm Necklace, and were consistent with the findings from the Financial Capability Survey, the results of which were released last December by Secretary Geithner and Secretary Duncan.The research, headed by Dr. Annamaria Lusardi Buy Links Rings, shows that financial literacy is largely influenced by parental education levels and financial habits. Lusardi analyzed financial literacy questions based on knowledge of simple concepts Links of London Sweetie Strawberry 5 Charms Bracelet, such as the capacity to do a two-percent calculation, and the workings of inflation and risk diversification. Dr. Lusardi points out Links of London Bracelets Outlet, In today's demanding financial environment young people represent a powerful consumer group. They must make complicated financial decisions at an early age Links of London Charm, and financial mistakes made early in life can be costly. Student loan or credit card debt can have a devastating long-term impact on quality of life and career choice.Young people who are financially literate are more likely to have college educated parents (in particular, college educated mothers), and their parents were likely investors in stocks and retirement savings during their formative years (when respondents were twelve to seventeen years old). For instance, according to the study a college-educated young male whose parents had stocks and retirement savings when the respondent was a teen-ager (12-17 years old) was about forty-five percent more likely to know about risk diversification than a female with less than a high school education Links Friendship Bracelet Grey, whose parents were not wealthy. Additionally, young people who had high school teachers interested in students and peers who planned to go to college were more likely to display higher financial literacy later in life.Lusardi says Links of London Letter U Charm, If we do not address financial illiteracy among young people through high school literacy classes, we will fail to equip young people with the tools they need to make financial decisions Links of London Fish Charm, and we may pay the cost down the road. Not everybody has an opportunity to learn from their parents or their friends. Young people at the start of their career, or who are in the process of buying their first home need to be financially knowledgeable before they engage in financial contracts.Email or share this story:|MoreStory Source:The above story is reprinted (with editorial adaptations by ScienceDaily staff) from materials provided by Wiley - Blackwell Links Ring, via .Journal Reference:Annamaria Lusardi, Olivia S. Mitchell Links of London High Heel Charm, Vilsa Curto. Financial Literacy among the Young. Journal of Consumer Affairs Links of London Slipper Charm, 2010; 44 (2): 358 DOI: 10.1111/j.1745-6606.2010.01173.xNote: If no author is given, the source is cited instead. [???:t??] Links of London Friendship Bracelets London Links Links of London

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