Did You Know?
A recent article by Jack Kemp and John Hope Bryant (San Diego Union-Tribune, June 8, 2006) speak about some startling facts:

• Young adults have the second-highest rate of bankruptcy
• Young adults are more likely to file for bankruptcy than baby boomers were at
   the same age
• Less than a third of people under 40 own investment products

The latest study released by Jump$tart, a national financial literacy organization, indicates that the average score of 5,775 high school students on a survey covering taxes, borrowing and insurance, was 52.4 percent. There is clear evidence that there is a failure by children to understand basic financial principles. Kemp and Bryant ask the question: What can be done to ensure that young people enter adulthood prepared for the serious financial decisions they will need to make?

The article points out the following solutions:
• Create public-private partnerships to increase the financial health/knowledge      
   of young people.
• Create and support state initiatives to provide students with financial basics in 
   school.
• Parents always play the most important role in the habits of their  
   children—financial lessons start at the kitchen table.

There are some financial institutions and Fortune 500 companies that support nonprofit community groups providing financial literacy training and there several states have passed legislation to increase financial literacy instruction in public schools. Parents play the most important role in the life of their children, but often times the home environment is not conducive to financial learning for sundry reasons. The Inspiration Training Foundation Home is a training facility that concentrates on providing training programs focusing on stewardship, teaching financial literacy and responsibility, financial and life management skills and household responsibility and administration. By assertively changing the direction and conception of at-risk young men and women by encouraging education and career aspiration beyond high school and providing mentorship, development of leadership skills, scholarships and internship programs, we empower these teens with the necessary skills for academic and entrepreneurial achievement that develops the social skills and character development necessary to sustain an equitable life and integral part of the community. The ITFH conducts its work from a unique location -- the home is conveniently located in a large ¾ of an acre lot centrally located. The house is a “living model and facility” used in our program to teach teens on household administration. Each project teaches the student about financial literacy.