APMacro: PF Economic Way of Thinking



You may not know much about managing your money. And what you don’t know could hurt you. All your life you will be spending, saving, borrowing, and investing. You will make economic decisions as a consumer, a worker, an investor, and a citizen. The choices you make at any point along the way will have major consequences for your future. To mention only a few:

  • What occupation should you pursue?
  • Should you go to college?
  • Should you get a credit card?
  • Are all credit cards alike?
  • Should you start saving now or wait until you have a better job and a larger income?
  • Should you invest in the stock market?
  • What stocks or mutual funds should you invest in?

You probably are not ready to make these choices. Many young people are not. The average score earned by high school students on a recent national survey of knowledge about personal finance was 48.3 percent. That’s a grade of “F” in any class, and it is an even lower score than the 51.9 percent earned by high school students 10 years ago. Similarly, high school students also received an “F” on a recent national test about economics. Their average score was only 53 percent (adults scored 70 percent on the same test).

Arrows-02-june

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