Today's economy is the result of the lack of financial literacy in America and our educational systems, both public and private. In a recent study conducted by the Department of Economics, 79% of students tested received a C or lower grade in personal finance. Only 2 States require a course in personal finance as a high school graduation requirement, New York & Illinois. Not only is there a lack of education in this area, there also is a wide spread lack of personal responsibility among the population in America today. I see more and more with young people and the upcoming generations the instant gratification mentality that gets them into financial trouble, often times even before they are of legal age. I also find that it is extremely difficult to get them interested in their own personal financial responsibility.
I applaud those taking the personal responsibility and initiative to do something about their own personal financial situations and willing to share their stories and comments on this blog. I too am striving to better my financial position in life and leave a legacy for my family to be proud of and to follow. While I do not consider myself as having a lot of debt, I certainly do have debt that needs to be paid off and am working toward that goal using the principals from Dave Ramsey's teaching tools. I have started my 22 year old son & 18 year old daughter on the Dave Ramsey's Home School program. I wish I had done it starting out when they were in elementary school. It's never too late for them, or for me.