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Financial Literacy

Bank president's book aims to inspire financial literacy among urban kids

By giving away her book aimed at "tweens," the leader of a regional bank wants to help boost financial literacy among urban youth across the country. The bank's President and Chief Operating Officer Teri Williams wrote "I Got Bank! What My Granddad Taught Me About Money" to help spark conversations about money management among families [...]

Categories: Financial Literacy
Bankers help kids gain financial literacy, while FICO researchers explain how to earn high credit scores

Bankers helped enrich the lives of more than 130,000 American children by participating in Get Smart About Credit Day during October. The American Bankers Association Education Foundation and its partner banks staged financial literacy events in over 450 communities. The sessions gave bank employees and other volunteers the chance to share financial education tips ranging [...]

Categories: Financial Literacy
Capital One and ING DIRECT discover one in four teens can't distinguish credit from debit

As many as one in four American teenagers don't know the difference between a debit card and a credit card, according to a survey commissioned by ING DIRECT USA and its parent company, Capital One. 24 percent of respondents told researchers that they thought spending money with a debit card involved borrowing a bank's money [...]

Categories: Financial Literacy
Jump$tart offers $5K financial literacy scholarship for high school seniors

Seventeen high school students can turn their financial literacy into college money, thanks to a scholarship competition sponsored by some of the country's largest financial services companies. In a recent email to CardRatings.com, Laura Levine, president and CEO of the Jump$tart Coalition for Personal Financial Literacy, announced that the Financial Services Roundtable has launched their [...]

Categories: Financial Literacy
Virginia uses quiz bowl competition to encourage financial literacy

Virginia Governor Bob McDonnell wants to discover his state's students with the sharpest personal finance skills. In a statement to reporters, McDonnell announced the Governor's Challenge in Economics and Personal Finance, a semester-long program to encourage financial literacy in the state's high schools. Teams of four students each can qualify for a "quiz bowl" style [...]

Categories: Financial Literacy
Financial literacy, not income, best predicts household wealth

Improving household financial literacy can mean the difference between arriving at retirement age with no assets and enjoying more than three times the net worth of a neighboring household, according to a recent white paper published by the National Bureau of Economic Research. Maarten van Rooij, Annamaria Lusardi, and Rob J. Alessie used a methodology developed [...]

Categories: Financial Literacy
American Express offers free online job search tools

American Express may have found a way to create new customers by investing in tools that help young professionals find jobs. The credit card issuer released a statement to reporters this month, announcing partnerships with two online services that officials hope will assist 20-somethings with their employment searches. Both online initiatives are free and open [...]

Categories: Financial Literacy, American Express
Capital One extends financial literacy training to DC nonprofits

To help celebrate ten years of partnership with financial advocacy group Consumer Action, Capital One sponsored a day-long financial literacy training seminar for nonprofit organizations and community groups in the District of Columbia. Representatives of over 60 area agencies signed up to participate in the event, designed to give community leaders stronger tools to educate [...]

Categories: Capital One, Financial Literacy
Study links financial well-being with lack of credit card debt

Despite the trend among U.S. consumers to decrease their reliance on credit cards in the wake of the economic crash of 2008, a recent study shows many Americans are still dependent on plastic for daily expenses and are financially hampered by their credit card debt. In Understanding the Debt Difference, Demos, a New York City-based [...]

Categories: Credit Card Debt / Debt collection, Financial Literacy
Credit card issuer and personal finance expert champion National Money Night Talk

Parents sitting down with their kids for "the talk" takes on a new meaning this Thursday night, with American Express sponsoring "The National Money Night Talk" on September 16th. Presented in association with personal finance expert Jean Chatzky, the program offers online tools to help parents openly discuss money and credit with their children.Chatzky has [...]

Categories: Financial Literacy
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