Author

Evan Weissman

Document Type

Honors Capstone Project

Date of Submission

Spring 5-1-2009

Capstone Advisor

Professor Mitchell Franklin CPA

Honors Reader

Professor William Walsh CPA

Capstone Major

Finance

Capstone College

Management

Audio/Visual Component

no

Capstone Prize Winner

no

Won Capstone Funding

no

Honors Categories

Professional

Subject Categories

Corporate Finance | Finance and Financial Management

Abstract

The global financial crisis of the early 21st century has taught us many things about human nature, our societal goals and the finance industry overall. Perhaps the most surprising finding, however, has been the observance of financial illiteracy among the general public. The combination of greed and ignorance towards financial responsibility has played an important role in the collapse of our financial system.

The financial illiteracy of our society has been an epidemic in our country for some time. Financial planning is a topic that has been rarely taught in high schools. This has lead to an influx of adults who lack fundamental knowledge of how to manage their finances. In an attempt to combat this ever-growing trend in our society, Financial Planning for High School Students was conceived. Currently, there is nothing on the market that can be used as an educational tool to teach basic financial planning to high school students.

The text is a beginner’s guide to the basics of financial planning. It is written in a concise and organized fashion to enable easy comprehension. Large sets of information have been condensed into helpful graphs and diagrams that are both visually appealing and informative. The text is divided into three sections based on age: Strategies for Young Adults, Adults and Old Age. This format helps to explain how the financial plan evolves as an individual progresses through life. Some major topics covered are: Budgeting, Credit Planning, Taxes, Investing, Insurance Planning and Estate Planning. Exposure to the basic concepts of financial planning should help address the issue of financial illiteracy and prevent another terrible global economic disaster.

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License.

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