New Year’s Resolution: Get out of Debt

Every year people come up with New Year’s Resolutions. According to About.com in Pittsburgh one of the top 10 Resolutions is to Get Out of Debt.

Many Americans are in debt and many of those debts are due to student loans. In fact, according to Boushey (2003), college loans are up 85% compared to a decade ago. Boushey continues on to say that even though student loan debt may be good debt and may lead to higher paying employment, it also may have adverse effects because of the economic recession.

This may influence people to seek out financial literacy help. As Lusardi and Tufano  (2008) have found, the people who may need the most financial literacy support are women, the elderly, minorities, and low income families and the wealthy.

Some websites to help with Financial Literacy are:

The Government’s Financial Literacy Website:

http://www.mymoney.gov/

Financial Literacy Month

http://financialliteracymonth.com/

Certified Public Accountants:

http://www.360financialliteracy.org/

Federal Student Aid:

http://studentaid.ed.gov/PORTALSWebApp/students/english/financialliteracy.jsp

National Financial Educators Council

http://www.financialeducatorscouncil.org/

Jump$tart Coalition for Personal Financial Literacy

http://jumpstart.org/news-releases.html

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