Home > Tell the People > Archives > 2008 > October > 20 > Entry
Back to the Basics
When I decided to create a blog about financial literacy, I knew the mortgage industry was collapsing. What I didn’t know was the global impact of the collapse. After hearing about all the creativity in the mortgage industry I knew someone was going to be left holding the bag. I never once thought it would us, the taxpayer.
I want to refocus on my real intent for this blog. Financial Literacy. Now that this catastrophe has occurred, I know more than ever our citizens must be prepared for life’s challenges. Something as simple as a budget, debt to income ratio, payment terms, interest, and contracts and their conditions must be emphasized to the masses. The instant gratification of home buying must be reprogrammed to include the responsibilities associated with a major obligation of debt. But do not begin or finish with home buying. Start with educating the basic life skills of self worth, self respect, self responsibility, and self commencement. Public education must include these attributes in their curriculum. We must start somewhere, why not with our youth. Corporations must also become proactive in assisting and promoting financial literacy and money management to their employees. Now is the time for non-profits and private institutions to assist more than ever with this social challenge. What do you think?…..Where are the starting points and how do we keep this from happening again?
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