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.”
- 50 highest paying jobs in Utah
- Balancing act: Different kinds of guilt...
- Dave Ramsey says: Everyone needs a financial...
- Why we don't need to worry that Utah cities...
- Low unemployment rates contribute to dropping...
- Utahns losing thousands of dollars to phony...
- Is preschool worth the money?
- How to be a billionaire
- 7 reasons why millennials are... 12
- Marijuana could deliver more than $800... 11
- Low unemployment rates contribute to... 7
- 4 things you don't want your boss to know 6
- Overdraft and ATM fees higher than ever 4
- How to be a billionaire 4
- Something that may have caused the... 3
- Why we don't need to worry that Utah... 3