What do dressing and financial literacy have in common?
In general, we average straight dudes are pretty bad at both of them.
When you're getting statistics like
- 50.8% of college-age adults agreeing with the statement: "I have experienced repeated, unsuccessful attempts to control, cut back or stop excessive money use."
- 45% of college students being in credit card debt (the average credit card debt being more than $3,000)
- The number of 18 to 24-year-olds declaring bankruptcy increasing 96% in the past 10 years (source: WSDFI, 2010)
- 23% of youths having attempted to sell grandparents to pay off loanshark debt.
you know we're in nail-biting times.
A hundred points for you if you didn't bat an eye at the latter (falsified) statistic.
But alas, not all is lost. You can, in the words of the S, N, double O, P, D, O, double G, have "staxx in your jeans and a Phantom up in your garage" if you learn and stick by some basic rules of financial management, planning and investment hoo-haa.
From the ghettoes to the Vatican: Financial Literacy is for everyone.
Stay tuned for more, homies.
Word.
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