The Problem

Many young adults are starting their first jobs lacking critical information about taxes, balancing a checkbook, credit cards, and business concepts. The Econ4U program provides them critical information to become better informed employees, voters, and peer educators.

A majority of Americans believe that labor saving technology is harming the economy.
-Myth of the Rational Voter, Bryan Caplan, 2007
74% of parents feel unprepared to teach their kids about personal finance.
-FleetBoston survey, 2003
Though the personal savings rate averaged 9.4% from 1970 to 1989, it had dropped to 2.3% by 2000 and to 0.4% in 2006.
-The Bureau of Economic Analysis Data, 2007
Only 22 states require testing students’ knowledge in economics (three fewer than in 2004).
-NCEE Survey of the States, 2007
Only 7 states require students to take personal finance for graduation.
-NCEE Survey of the States, 2007
The rate at which Americans filed for bankruptcy increased 350% between 1980 and 2005.
-Federal Reserve Bank of St. Louis Review, January/February 2007
25% of all employees who are eligible to enroll in their employers' 401(k) savings programs don't contribute a dime.
-Profit Sharing/401(k) Council of America
Most Americans believe that international trade is bad for the economy.
-Survey of Americans and Economists on the Economy
Though the top 1 percent of income earners pays 40% of the total taxes, a majority of Americans mistakenly believes that middle and lower income citizens pay the highest tax rate.
-National Public Radio, Kaiser Family Foundation and the Kennedy School of Government survey
Nearly two-thirds of those surveyed did not know that in times of inflation money does not hold its value.
-NCEE Harris poll
Most Americans believe that corporate profits average nearly 50% of revenue, when in fact the average is 8%.
-Kaiser Family Foundation and The Washington Post survey
48% of American credit card owners only pay their minimum monthly payment each month.
-Senate Resolution 48, 2003