Prime Rate Credit

Ben Bernanke, the guy who took over as the head of the federal reserve after Alan Greenspan retired, and arguably one of the most powerful men in America, is getting passionate about teaching youngsters (by this we mean teens and college students) about finances. It is a pre-emptive strike against all the trouble young people tend to get in with high debt and not enough money to pay that debt, especially in college, when the temptation of easy credit is too much to resist when you’re broke and starving.

He is speaking at schools now, urging kids to learn more about financials, and acknowledges that it may not be the most exciting subject matter for young people today to read about, but that teaching kids about finances at an earlier age can help prevent the slew of youngsters that tend to get themselves in over their heads, especially with credit cards, when they don’t really understand the principles of revolving debt and bad, high interst debts.

This comes in the wake of alarming news that when high school seniors were quizzed on pretty basic subject matter they failed miserably and therefore were going in blind when it came to being a fiscally responsible adult and taking care of their own finances.

I myself have always wondered why finances and personal budgeting and education are not more of a prominent part of the high school and college curriculum. I think if it were, more kids would become adults not being in complete and hopeless debt, and we wouldn’t be seeing ads every five minutes on tv and the internet for “getting out of debt” or debt management help that so many people need these days because they didn’t know about finances and are now paying for it as a full grown adult.