Sunday, November 16, 2008

Financial Literacy & People...

Here we have an interesting situation: despite the controversy between academics and journalists about the urgency to financially educate people and defining this educational process as a "waste of time", now we can question ourselves: Do we have an idea as to how much it costs (and can) cost financial illiteracy?

Consumerism rather than a responsible consumption, buying stuff with credit cards being unable to pay that debt on time (and becoming maxed out) and eventually declaring bankruptcy, results in a huge cost of financial illiteracy in North America (particularly the United States and Mexico), therefore, in a personal perspective, I stand by my modest opinion as to the urgency to invest time and resources to educate people on financial literacy and particularly students.

Other than that, are excuses for not doing something now that we could regret later...

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2008 ©
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Elisheva Wiriaatmadja said...

People should have been taught about finance or money since a very very early age!

Mario P. Lopez said...

Thanks for you comment. I totally agree with you; I've been collecting information from various online sources about seemingly serious efforts that schools and entities are doing to educate young people about financial literacy (particularly about credit cards).

Best regards.