Young people and money
For my program, I am completing a research project – it’s supposed to be a single large piece of journalism and students choose their own topic.
My idea is still in beta stage, but I want to explore financial literacy among young people. I’m hoping to find out more about how people in their twenties make decisions about money, and how prepared we are to fund our lifestyles. Most of us, I think, are pushing the not living exactly within our means. If we’re not blatantly disregarding how much money we earn relative to how much we spend, we are at least pushing the boundary – overspending on our credit cards, putting off bills/loan payments until we absolutely have to pay, and reaching in to overdraft. We’ve always been immersed in a world of consumerism.
There has been a lot written about how our generation will fare in the job market as boomers choose to prolong their careers and put off retirement. There has also been a lot written about the historically high debt levels we will inherit. These ideas are also playing in to the formulation of my idea.
Update The Ontario Ministry of Education is launching new curriculum in fall 2011 to teach students as young as Grade 4 financial literacy. Units will be added to existing courses, all the way up to Grade 12. How many twenty-somethings could have benefitted from something like this I wonder.