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Educating Young Adults About Credit

Young Adult Credit Education: Too Late or Right on Time?

As the government scrambles to prevent our financial system from crumbling to the point of no return, there's a simultaneous effort from the Treasury Department to educate young adults aged 18-24 about the importance of responsibly handling credit. Over the next four to six weeks, video and audio spots will run on donated air time with the warning, "Don’t let your credit put you in a bad place." There's also an online game called The Bad Credit Hotel that is part of the campaign and is meant to teach players about credit scores.

Financial literacy advocates are hoping recent events have brought a new awareness to the dangers of borrowing beyond our means. The campaign is aimed at the 18-24 age group in particular because, as explained by Kathy Crosby of the Ad Council that helped design the campaign, "Our research showed us that there is a sense of invincibility among this age group. Our job was to disrupt this thinking."

Do you think the effort is too late to make an impact, or have recent events allowed for perfect timing in rolling out a financial awareness campaign for young adults?

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