Franklin County

Personal Finance Principles Every Young Person Should Know – 3

            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?

• Start saving young – your total savings are determined by the interest you earn and the time period over which you save. The sooner you start saving, the more funds you’ll be able to amass over time.

• Stay insured – purchase insurance to avoid being wiped out by a financial loss.

• Budget your money - include income, expenses and savings.

• Don’t borrow what you can’t repay.

      For more information visit www.jumpstart.org.

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		Franklin County University of Missouri Extension Center FranklinCo@missouri.edu Last revised: 08/21/08