$DATI Financial literacy matters because 4 out of
Post# of 40277
(Total Views: 80)
Posted On: 01/28/2020 3:15:28 PM
$DATI Financial literacy matters because 4 out of 5 American workers live paycheck to paycheck. The education system graduates young people with insufficient knowledge on how to complete their taxes, balance a household budget, check their credit score or build an emergency fund. Most disappointing is that school fails to address why a basic financial education is a crucial building block for adult life.
The lottery isn’t a magic bullet
A financially literate adult should have a basic understanding of the deeply predatory lottery system. Statically someone is 35 times more likely to be murdered in the Grand Canyon than win the lottery, but data is no match for the powerful emotional grip of a potential jackpot win. Low income Americans are targets of exploitative marketing tactics; successfully convincing 38% of people earning less than $25,000 income per year, that the lottery is the path to accumulating wealth. Even more disheartening is that people earning less than $10,000 a year spend, on average, 6% of their income on lottery tickets. This vicious cycle must be broken.
Check out the DigitalAMN blog for practical tips and tidbits about financial literacy. https://digitalamn.com/
The lottery isn’t a magic bullet
A financially literate adult should have a basic understanding of the deeply predatory lottery system. Statically someone is 35 times more likely to be murdered in the Grand Canyon than win the lottery, but data is no match for the powerful emotional grip of a potential jackpot win. Low income Americans are targets of exploitative marketing tactics; successfully convincing 38% of people earning less than $25,000 income per year, that the lottery is the path to accumulating wealth. Even more disheartening is that people earning less than $10,000 a year spend, on average, 6% of their income on lottery tickets. This vicious cycle must be broken.
Check out the DigitalAMN blog for practical tips and tidbits about financial literacy. https://digitalamn.com/
(0)
(0)
What I post is my opinion. Do your own DD. Make your own investment decision. Links, images, & retweets are not endorsements.
1️⃣I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
2️⃣All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
3️⃣I will not and cannot be held liable for any actions you take as a result of anything you read here.
4️⃣Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.
1️⃣I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
2️⃣All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
3️⃣I will not and cannot be held liable for any actions you take as a result of anything you read here.
4️⃣Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.
Scroll down for more posts ▼