Why Econ4U?

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.

  • Only 20% of parents believe their children “will keep our family’s wealth secure for future generations,”
  • Only 32% of survey respondents say their kids are “willing to make financial sacrifices.”
    -Annual Bank of America U.S. Trust survey of wealthy Americans (2008)

  • 64% of Americans are worried that they won’t have enough money to pay for retirement.
  • 56% are worried about not being able to maintain their current standard of living.
    -USA Today/Gallup Poll, Sept. 26-27, 2008

  • Minorities particularly suffer from financial literacy. African-American students are only about 80% as financially literate as white students.
    -2008 Jump$tart Coalition for Personal Financial Literacy Survey

  • Only 59% of young adults (ages 18-29) pay their bills on time each month.
  • One-third of Americans do not know their credit score.
    -The National Foundation for Credit Counseling’s 2008 Consumer Financial Literacy Survey

  • Only 28% of Americans view their financial knowledge as “good” or “excellent”
    -August 2007 Networks Financial Institute

  • 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