More and more young adults are falling into debt. In fact, more students drop out of college as a result of credit card debt than academic failure; they find themselves in debt and are unable to get jobs to pay that debt off.
From the latest electronic gadgets to high-priced clothing and accessories, teenagers are being seduced into buying items they can’t afford. According to a study conducted by a major credit card company, 78 percent of parents say their high school student does not have a budget.
More than 83 percent of college students have at least one credit card, with an average balance of $2,300. Compounding the problem, the average college student receives an estimated 15 credit card solicitations per week.
To help educate high school students on the fundamentals of responsible and sensible money management, Champion Mortgage and Family, Career and Community Leaders of America (FCCLA) have teamed up to create Spend SmartSM, a national public awareness campaign. At in-school events designed to educate and entertain, teens and their parents learn about managing their money, setting up a budget, and building good credit.
Spend...
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