May 15, 2008

College Grads Fail Test on Financial Basics

Many college graduates enter working years not knowing financial basics
In a survey conducted by the Jump$tart Coalition for Personal Financial Literacy, college seniors answered about 65 percent of personal finance questions correctly: That's a D grade for these academic achievers. Those kinds of results worry financial experts, who argue that today's graduating classes need to know more about their finances than generations before them, given the loss of pensions and the shifting responsibility for workers to manage their own retirement accounts... Investing With the stress of finding a job, paying off student loans and looking for a place to live, investing can be the last thing on a graduate's mind. But financial experts say it should be a priority...
Frugal Ben Says:
  • The best time to save for retirement is indeed when you are in your twenties and early thirties.
  • At least these grads must know something about inflation, even if it is of the grade variety. Since when is 65% a D, not an F?

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