DARE TO LIVE THE LIFE YOU HAVE DREAMED OF WITHOUT DEBT

PROBLEM

Debt steals life options and happiness. According to personal money-management expert, Dave Ramsey, 80% of Americans are leaving in debt. Furthermore, Experian's 2019 Consumer debt study found that an average American carries a personal debt of $90,460. Each year, thousands of seniors graduate from high school without a clue how to plan a budget, do taxes, open a checking account, start a business, etc. Unfortunately, these students are financially illiterate and there are many people who are looking to take advantage of this. It is not students' fault they were not given proper tools to succeed in life nor can their parents be blamed as they too are often financially illiterate. Rather, it is a lack in education system. We attend school for twelve years in hope to be prepared for the real world. Sadly, for most students, they are not prepared.

Below you will find five generations and their average debt. To find out more about type of debt each generation has, please click here.

$9,593

Generation Z

(ages 18-23)

$78,396

Millennials

(ages 24-39)

$135,841

Generation X

(ages 40-55)

$96,984

Baby Boomers

(ages 56-74)

$40,925

Silent Generation

(ages 75 and above)

SOLUTION

Financial literacy does not come to one in a day. It takes time to learn concept and practice it. I see a great success in adding financial education in school curriculum. The financial knowledge received in school will prevent growing adults from making the same financial mistakes done by their parents and prepare them for real world.

OBJECTIVE # 1
Decrease the debt of Generation Z by 5% within the first 2 years after implementation of financial literacy education requirement in high school.

OBJECTIVE # 2
Increase the average savings of Generation Z by 2% within the first 2 years after the implementation of financial literacy education requirement in high schools.

OBJECTIVE # 3
Decrease crime rate of Generation Z by 3% within the first 3 years after implementation of financial literacy education requirement in high schools.

OBJECTIVE # 4
Increase early retirement (at age 35) by 5% within fifteen years after implementation of financial literacy education requirement in high schools.

©2020 - Natalya Tupikova takes full responsibility for the information posted.
The Information on this page represents that of Natalya Tupikova and not that of California State University, Sacramento.