Are you financially illiterate? Nearly one quarter of United States receive a failing grade when it comes to teaching kids personal finance in schools. Twelve states don¹t attempt to teach it at all. This could be one of the reasons that only 35% of credit card users don¹t carry a balance and pay off their bill every month, and that only 1 in 3 Americans is saving for retirement. We don¹t expect kids to learn how to read, write or drive without instruction, but another essential life skill, money management is ignored for the most part.
April is Financial Literacy Month and Ramsey Solutions is hosting a scholarship contest. Between April 6 and 25, the “Financial Literacy Challenge” allows students to take a quiz on daveramsey.com/challenge. Students who score 100 percent on the online quiz are eligible to win prizes, including:
- One of four $10,000 college scholarships for a high school senior
- A $5,000 scholarship for a high school senior
- A $2,000 scholarship for a high school senior
- One of three $500 Amazon gift cards for underclassmen
What a great way to teach kids AND earn money toward a college degree.