A global survey of 15-year-olds show the US still has far to go to prepare the next generation to grasp complex financial products such as mortgages. To prevent another crisis like the one in 2008, young Americans need financial literacy.
The US economy shrank an unexpected 2.9 percent in the first three months of 2014, its worst performance in five years. Happily, experts see signs of a strong economic rebound for the rest of the year.
Twenty-six percent of Americans have no emergency savings of any kind, and a majority have less emergency saving than experts recommend, according to a study from Bankrate. Even as the rest of the economy improves, the US savings rate has been trending downward for decades.
The American labor force is undergoing a fundamental shift as more people become freelancers, contract workers, and part-timers – bringing new flexibility but also new insecurities.