Franklin County

Personal Finance Principles Every Young Person Should Know – 1

            Research indicates that our children leave high school with little understanding of personal finance. The Jump$tart Coalition for Personal Financial Literacy has released financial principles that, if comprehended and understood by young people, will make a real, positive difference in their financial outlook.

            How many of the following principles do you know or do?

1.      Map your financial future – take time to list your financial goals, along with a realistic plan for achieving them.

2.      Don’t expect something for nothing – be leery of advertisements, sales people or financial offers promising anything for free.

3.      High returns equal high risks – recognize that no one will pay you high interest rates on a sure thing. Diversification of assets is the best protection against risk.

4.      Know your take-home pay – before committing to significant expenditures, take your gross income and subtract deductions.

For more information visit www.jumpstart.org.

Return to the main Franklin County page
		Franklin County University of Missouri Extension Center FranklinCo@missouri.edu Last revised: 08/21/08