- California is one of 11 states to receive an “F” grade in the efforts to produce financially literate high school students[i]
- Low pay rates for enlisted military members with 46% higher cost of living in San Diego compared to other military locations throughout the United States[ii]
- Transition into civilian life can lead to long periods of un or underemployment which forces increased usage of credit cards, pay day loans and other high interest money borrowing
- Predatory lending techniques geared toward youth and low-income
- An overall lack of financial education and the long-term impact poor decisions can have regarding employment, securing funding and other life-altering opportunities.
- A general mismanagement of money – living paycheck to paycheck
- Following a cycle. Poor financial acumen by parents or mentors tend to lead to poor financial decisions and pathways
- Lack of substantiated income leads to increased use of credit cards
- Stigma faced by admitting that you may need help. This leads to further usage and increasing the amount of unsecured debt and poor financial decision being made.
i Information provided by Champlain College:
(http://www.champlain.edu/centers-of-excellence/center-for-financial-literacy/report-making-the-grade)
ii Information provided by SANDAG:
(http://www.sandag.org/index.asp?fuseaction=home.home)
Help us make a difference in the lives of our military community, our younger generation and our underserved communities. All donations are 100% reinvested into the Smart With Your Money, Wave of the Future and Boost for our Heroes programs and your donation can be earmarked specifically to the financial education program of your choice.
