This paper focuses on the recent decline in the American and how American's saving habits are in need of change. Currently many Americans do not own stock, let alone their own home and many college students are facing credit card debt. The average American has a negative savings rating mean they spend all of their disposable income and then dip into their past savings. At least 45% of college students are in credit card debt and this number is likely to continue to rise.

This article focuses on how to use tax savings for college tuition and how to write off loan payments. The tax break is for families paying for educations costs and for those paying interest on loans. Tax payers can deduct up to $2,500 of interest paid off their taxes. Families must understand that there are many restrictions to this break such as income level and relationship to the dependent, but this is an easy way to save money and pay for college tuition.

Although many families have lost their savings with the current market decline college tuition continue to increase. This article explores various strategies and implementations to save for college and not accumulate debt. Parents should be aware that colleges are slashing budgets and reducing spending, but many have agreed to continue financing scholarships and financial aid packages. It is a good idea to have your child apply to three safety schools because competition is at its highest. Thanks to the government student loans are still readily available and should be a families first option due to the low interest rate.

Currently many states are slashing budgets which is forcing families to face higher college costs. College 529 plans come in a variety of configurations based on a childs age, and investment style. This article examined several 529 plans to determine the best and the worst. The best offered conservative plans for a child between the ages of 15-17 and earned around 2.7% while some other plans lost money

The fourth quarter college plans have continued to decrease due to the economic crisis. The assets in 529 college savings plans fell over 21% from last year. Investors are optimistic and the data shows that people are still attempting to save for college. Unfortunately many parents do not know how to save or how much they will need for college. College expenses continue to increase faster that wages and have increased at a rate of 5.7% a year. If this trend continues the gap between income and college tuition is going to be even more difficult to cope with.

Americans are not the only people facing a financial literacy crisis according to this article. The Canadian governments new budget calls for the creation of financial programs. During the recent economic crisis many Canadians have amassed debt and the government aims to quell this trend. The United States government is also trying to implement similar programs for its citizens.

This article focuses on the implementation of early financial programs for young children. Financial literacy is a skill which all individuals will need throughout their life. Studies have found that individuals who received financial education in high school reported an increase up to 1.5% in their assets when compared to individuals who did not receive any education. While adding these course is certainly beneficial there are still a number of challenges. There is a cost to create such programs and some school districts are already facing budget problems.

Today's consumers are faced with difficult financial decisions everyday. Making the wrong choice could cost someone their savings or their home. By becoming financially literate people decrease the risk that they will become victims of financial mistakes such as aquiring excessive debt or associating with predatory lenders. Many families have only one spouse take care of all the finances and this could lead to problems should that spouse die.

This article focuses on the financial education of American consumers. The researchers have labeled Americans as having excess debt, poor retirement planning and insufficient savings. They believe one answer to the financial problems facing Americans has to do with the amount of financial information available. In some cases credit cards provide too much information and technical terms which may confuse the consumer. On the other hand when there is too little information the consumer may not be able to make proper choices.

Many surveys have shown that high school seniors continue to fail financial literacy tests. The surveys indicate that our current education standards are insufficient to prepare students for the real world.

The article discuses how parents can prepare their children entering college about financial literacy. It is important that freshman understand the intricacies of credit cards such as, interest rates and fees.

Mandell and Lewis explain that young adults possess insufficient knowledge when it comes to the world of personal finance. This assertion is not new and many researchers have come to a similar conclusion, but the two authors believe young adults in other countries such as Japan and Australia lack financial literacy. Their study focused on whether teenagers lack of motivation inhibited their assimilation of information during finance classes. the researchers believe teens just don't believe financial literacy is important. Their study included five national surveys, with results broken down by different demographics such as sex, race and family income.

Using Financial Education Curriculum for Teens Today's American teenagers are regarded as "financially illiterate," and lacking sufficient knowledge of personal finance and an understanding of money. The authors examine the effectiveness of the Money Talks program implemented in several California schools. The Money Talks program was designed to inform students about financial subjects relevant to them. The study proved the program had a positive effect on students by administering a post-test and comparing it with one taken before the course

The goal of the study was to understand executives' feelings regarding employees with financial problems. The authors discovered that executives are adamant that their employees' finances are in order so company time and money is not wasted. When an employee is facing money troubles, he or she may become distracted at work or use company time to settle the matter. Many of the executives who were interviewed indicated they learned financials skill from their parents and while attending college.

Synder outlines an initiative by CPAs around the country to promote financial literacy and improve Americans' wellbeing. Examples of the programs include a one-day workshop for high school seniors to discuss subjects such as credit cards, owning a home and buying a car. The goal is to bring real world applications to teach students about financial literacy. The programs also aim to help military personnel and their families when a parent is deployed, or a unique situation arises that impacts their finances. The author effectively demonstrates how CPAs across the country are taking action to aid in the development of healthy financial habits. Unfortunately, there is no information regarding the effectiveness of these programs and more information is needed.

College students today face a difficult time with easy access to a credit card and a lack of financial literacy. The authors' study concluded that the average college student is currently accumulating debt at an increasing rate. They believe the allure and purchasing power of a credit card causes some young adults to forgo their own inhibitions and just spend. This study provides an excellent source of quantitative information in the form of survey responses and charts. The authors break down their survey group into many categories, such as age and sex, to examine debt. The plethora of data allows correlations to be made and therefore a better understanding of college student credit card debt. However, the sample size was only 448 students on five college campuses, and in the future, a larger sample size could provide a more detailed and accurate analysis.

Thaler discusses the "financial literacy crisis" facing most Americans. Today, a record number of Americans are inept when it comes to financial literacy and as a result accumulate large sums of debt and fail to plan for the future. The author explains that Americans get into trouble because current financial systems such as credit cards are not user-friendly. To counter this escalating problem, researchers believe financial programs should be created that provide consumers with basic financial knowledge and assist them in making good choices. Finally, parents must begin teaching financial literacy to their children at a young age and not keep the subject a private matter. Thaler's argument that new financial programs should be created is logical given the current crisis situation he identifies, but he fails to outline a way to do so. Norvilitis, Jill, Michelle Merwin, Timothy Osberg, Patricia Roehling, Paul Young, and Michele Kamas. " Personaility Factors, Money Attitueds, Financial Knowledge, and Credit-Card Debt in College Students." Journal of Applied Social Psychology. 36.6: 1395-1414. Academic Search Complete. EBSCO Roeschh Lib., U of Dayton. 17 March. 2009

Many teenagers today have access to credit and debit cards and until recently, there was little parents could do to monitor and restrict their children's spending. Hernandez has identified a new prepaid card by Discover that aims to give parents more control over their children's spending habits. The prepaid card allows parents to restrict and actively monitor their teenager's credit card use. For a small monthly fee, parents can effectively control all aspects of their child's card and even restrict purchases of inappropriate material. Discover's prepaid card offers parents and teenagers an opportunity to enjoy the conveniences of a credit/debit card with relative safety.

The authors discuss how college students' overreliance on credit cards and accumulated student loans have left many graduates with outstanding debt and poor credit scores. Credit card companies aggressively solicit college students, who are enticed by the power a credit card grants. Upon graduation, students with large sums of debt may find it difficult to find a job or rent property due to poor credit. To counter this surge of irresponsibility, the authors propose colleges create programs to educate students on how to use a credit card responsibly. The problem with creating more programs is universities must spend extra funds to create and maintain such an initiative. The authors fail to propose an early education curriculum for younger children to immerse them in the area of personal finance.