For too many Americans of all ages, the holiday season means accumulating debt.
Young people are no exception.
He wasn't in debt because of college - rather, he was paying for his truck, stereo, and other purchases. By 22, he had hocked his future. Children aren't learning the basics of economics and finance. These students knew little about the relationship between income and taxes, the relative security and earnings potential of the stock market, or that interest on a savings account is taxed. The students didn't understand the incredible power of compound interest.