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

Oct 29, 2014
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%)


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.