FinanceChallenge

Personal Finance Brings Personal Success

Why Financial Education Matters

You can't read the news without seeing why a fundamental understanding of economics and finance is so important to the future of our youth and our country.

 

Did you know?

  • Approximately 40,000,000 Americans, “the unbanked” are not using mainstream, insured financial institutions

  • 48 percent of credit card owners only pay their minimum monthly payment each month

  • According to the Federal Reserve Board, the average American household’s credit card debt is $8,565. In contrast the average savings rate is currently the lowest in U.S. history, 0.6 percent

 

Did you know?

  • Students entering college are offered an average of eight credit cards the first week of school

  • University administrators state they lose more students to credit card debt than to academic failure

  • College students borrowed in the 90s what they borrowed in the 60s, 70s, and 80s COMBINED!

 

The mission of the New Jersey Council for Economic Education is to enhance K-12 students' knowledge of economics and personal finance and improve their capabilities. The FinanceChallenge supports this mission by creating a fun incentive for students to take ownership of their education, their choices and their future.