The next financial crisis doesn't involve a housing bubble
Carolyn Kaster, Associated Press
Are we headed for another financial crisis? CNN Money’s Jack Markell seems to think so. But it’s not the kind of financial crisis we saw in 2008; Markell thinks this one will hit a little closer to home.
The next financial crisis, Markell argues, will come from a widespread lack of understanding personal finance.
“Helping people understand their finances is absolutely essential in today's economy,” Markell wrote on Friday, adding that American schools have “not done nearly enough to give Americans control over their financial destinies.”
“To be sure, knowing how to put together a personal budget or how a credit score works won't raise a person's income,” he continued, “but it can make a paycheck go further and show families how to avoid decisions that cause long-term harm. While some of today's financial stressors will persist until the economy improves, a better grasp of the financial basics can make a huge difference to millions right now.”
- 25 states with the lowest levels of personal...
- 9 startup companies perfect for your family
- 5 ways to save money, improve quality of life...
- U.S. economy grows at scorching 4 percent in...
- Why you must teach your children about money
- BYU grad strikes gold teaching via online...
- Dave Ramsey says: Don't touch that 529 plan
- Consumer index climbs to record level in Utah
- Fast food workers vow civil disobedience 20
- Dave Ramsey says: Don't leave an estate... 13
- U.S. economy grows at scorching 4... 12
- BYU grad strikes gold teaching via... 12
- Dave Ramsey says: Don't touch that 529... 8
- Study: 35 percent in US facing debt... 5
- Consumer index climbs to record level... 4
- Plan to simplify 2015 health renewals... 2