Raymond Frenken tells us his opinion of financial literacy after finding out that his 14-year-old daughter could get access to a credit line of about 400$. Terms and conditions where accepted, thus no harm for the company. But what about the family’s financial condition? International studies show that 1 out of 4 younglings is unable to make any serious financial decision whatsoever. This means that in terms of financial literacy there seem to be a giant knowledge gap which needs to be filled. Raymond is a strong believer of Financial literacy as a foundational type of knowledge for young adults. Everyone should be critical and see whether these young adults really need a product or is it simply their materialistic desires driving their choices? He also highlights the power of economic orientated museums, which portray information in a different manner. They can serve as information hubs. Ask yourself: would your life have been different, if you had made different financial decisions earlier in your life?
“If you think you are tech savvy, you are at risk of financial problems.”