Thursday, February 5, 2009

Do You Know More on Payday Advance Loans than a Boy Scout?

Scouts aim for personal management badge

Photo taken July 26, 2002 of American Boy Scou...

Do these kids know more than you about personal finance?

Boy Scouts are too young to get payday advance loans. However, with a new merit badge up for grabs, more will be ready to properly evaluate their financial options when they become adults.

To earn the personal management badge, Boy Scouts must be able to correctly answer questions about credit, interest and budgets.

Take the quiz

There aren’t any questions about payday advance loans on the Boy Scouts’ quiz, but a little financial literacy goes a long way. If children and teens learn to understand budgeting and long-term interest, they’ll be better prepared to make financial decisions of all types. You can take the Boy Scout quiz at CNN Money to find out if you have the know-how to manage your money like a Boy Scout.

Financial education becoming popular

Possibly the best fallout from the recession is the new-found interest people are taking in financial education. Christian Science Monitor points out that “20 years ago, personal finance was significantly less complex than it is today.” The same article advocates that more states should add financial education requirements to public school curricula. ... click here to read the rest of the article titled "Do You Know More on Payday Advance Loans than a Boy Scout?"

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