Everyone has seen on recent newscasts, the stories about homeowners
in foreclosure who didn't take the time to read and comprehend
completely, their loan contracts. Is it that simple? Why didn't they
just sit down at a table for an hour and study it in full? The truth of
the matter, is that even if they had tried, the majority of them
wouldn't even be able comprehend them in full.
Its Only Going to Get Worse in the Future
Just
try to read the three page fine print average credit card contract! Not
only are the actual basic functions of today's financial contracts far
more intricate and confusing but they are also loaded with new terms and
phrases that make them impossible for the average person to comprehend.
The bad news is that it is only going to get worse in the future, as
new government regulations on financial and lending institutions are
imposed.
Packed With Easy to Understand Information
Fortunately
for today's parents there are financial education videos for teens that
can be procured online. Will your teen watch and study one until he or
she understands its content completely? Probably not, but these videos
are so loaded with relevant material that they will come away with
something lodged in their head that will find a use in their future.
Will Your Teen Be Ready for the Next Recession?
Even
if all that they come away with, is a basic understanding of the roller
coaster economic cycles that the U.S. economy has been going through
since its beginnings, that will be a big step. It will mean that just
maybe they will be prepared and ready for the next recession that will
undoubtedly hit in another twelve years or so.
Prepare Your Teen Now
By
then they will most likely have a home and family of their own and will
be even less likely to take your advice. This means that now is the
time to do what you can to prepare the hard-head for the future that is
waiting for them with a financial education video for teens.
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