In Washington state there are no requirements to include financial education in school curriculum. As a result, most kids graduate high school financially illiterate.
While parents often give their children an allowance to teach financial responsibility, there is little emphasis on what to do with that allowance. Should it be school’s responsibility to teach financial education? What should parents be doing?
It’s estimated that about 8.2 percent of US households don’t use bank accounts. Not only that — 20.1 percent of households are considered “underbanked,” meaning they use bank accounts but still opt for payday loans, check-cashing services and other alternatives. This is according to a recent survey by the Federal Deposit Insurance Corporation.
So why aren’t people using banks? Ross Reynolds talks to some of the un- and underbanked.
Halfway through the enrollment season for Washington's Guaranteed Tuition Savings program, the number of new enrollments is lagging compared to the last two years. Consumer confidence in the program is slipping, at least for now, even as state lawmakers express their concerns about the $600 million shortfall in the program.