Financial Independence

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Recommended: 10 disadvantages of financial literacy in schools

The kids are the Future! If that’s true, ask yourself this question, what type of future are we setting them up to look forward to? Are we doing everything we can do to ensure our children’s future? It doesn’t seem like we are. Financial Independence is going to be much trickier for the generation coming up to gain, as a result of, lack of financial literacy, college tuition, and decreasing job market.

One reason it will remain tough for a generation to become financially independent is that we are failing as parents and educators on educating our youth about financial literacy. You would think after the 2008 stock market crises that financial literacy would be more significant but it’s not. In Braun Mincher’s Article Schools Should Educate …show more content…

According to the National Center for Education, statistics states that only 50% percent of college student, graduate meaning almost half of college students will not graduate. With college, being so demanding, insuring that a minim of 12hrs a week are taken to be considered full term, school must be your main focus. So between going to class and having a respectable regiment to ensure you pass all your classes while meeting deadlines, it almost seems impossible to have a job. You don’t want to fail your classes because it reflects critically on your transcript and puts you in danger of losing financial aid and scholarships. Unless you come from a wealthy family, which most students don’t, you need assistance with paying for tuition. According to College Board, tuition has risen 27% for four-year colleges, 24% for community college and 13% in private universities. In Article Financial Independence? Today’s Young People Don’t Expect It Anytime Soon by Martha C. White. The Junior Achievement survey suggest that, the cost of colleges today is the main reason teens today might be living with their parents into their mid-20s. Only 9% of teens who took the survey are saving for college, while half of the teens don’t even recognize what they should be saving. It’s also challenging to find jobs that are willing to work around a student’s crazy class schedule, so students are more reluctant to take out loans. Over the past five years the amount of student loans is now 30% higher and averages to about $24,000 a student. According to Article Financial Independence? Today’s Young People Don’t Expect It Anytime Soon. Only about 30% of people pay back their student loans and According to Project Student Debt “71% of college graduates finish school with student loan debt and the average goes up 6% each year. How can you be financially dependent with debt? Student loans show up as regular

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