Question of the Day: What Financial Fears Do Adults Have?

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Oct 29, 2014
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Question of the Day, Research, Credit Cards, Savings, Financial Literacy

This can be an instructive discussion as it helps students think about their futures and behaviors/habits that they can develop today to lessen the probability that they will have the same fears as adults.

From National Foundation for Credit Counseling eighth-annual Financial Literacy Survey; question asked “Which of the following areas of personal finance currently worries you most?”:  

#1 (a tie at 16%):  Not enough rainy day savings for an emergency AND Retiring without enough money set aside

#2:  Losing my job (7%)

#3:  Not being able to find a good-paying job (6%)

#4:  Not being able to pay my credit card debt (4%)

#5:  Not being able to repay my student debt (2%)

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Idea:  Ask students to develop strategies they can utilize to avoid having these worries as adults.

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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