Do you know why most of us are hard hit by the recession? Obviously, without a second thought we might blame the external economy for that, but if you analyze carefully, you’ll find that external conditions are not to blame completely. The recession is just like a disease that causes maximum damage to the constitutionally weak and the unprepared. If we’d have learnt to save up for the rainy day beforehand we’d not have suffered so much. But surprisingly, the majority of Americans including children and youth are not up to the mark with their money management skills. Not only that, they lack in financial literacy too. No wonder the government and private financial institutions are putting such a lot of effort towards enhancing financial literacy levels of the common American so that they [...]

