[Vision2020] Schools and tools for financially illiterate Americans
kmmos1 at verizon.net
Sun Mar 2 23:29:32 PST 2008
On Sunday 02 March 2008 21:34, Donovan Arnold wrote:
> Americans are 'financially illiterate' - survey
> Tuesday February 26, 12:42 pm ET
> By Catherine Clifford, CNNMoney.com staff writer
> Americans don't understand debt, which may be one reason that they
have too much of it, according to a survey released Tuesday. <snip details>
This is hardly news. Consider this quote from H. L. Menken:
No one in this world has ever lost money by underestimating the intelligence
of the great masses of the plain people. Nor has anyone ever lost public
office thereby. -- H. L. Mencken, Notes on journalism, Chicago Tribune, 19
If the survey is to be believed, perhaps not much has changed in the eighty
and more years since Menken remarked. Of course, four human generations
later, today's great-grandchild of Menken's contemporary adult has less
excuse for ignorance, financial or otherwise.
Today at least four of five people graduate from high school, and one of
five graduate from college, whereas in Menken's day not half graduated high
school, and not one in five had a single year of college, much less
graduated from it.
Another reason the great-grandchildren of Menken's generation have less
excuse for financial folly is that handheld computing convenience is
readily available for financial (and other) matters. For example, the 25th
Anniversary Edition of the Hewlett Packard 12c Platinum Financial
Calculator is able to accomplish most of the financial arithmetic anyone
might practically need, and the device can be stored in a shirt pocket, and
hand-held while in use.
Here is a link to the HP product page for the HP 12c:
Here is a list of links to guides for using the HP 12c for real estate:
Educationally, mastery of the HP 12c could be suggested as an entrance
requirement for high school, where the typical age of student is such that
he or she is beginning to contemplate purchases requiring credit payments.
So, though not news as such, many people still need to know of the HP 12c,
or some other brand of calculator with similar abilities convenient to use.
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