With seemingly ever increasing personal bankruptcy rates, this statistic should not come as a surprise.   

The U.S. Department of the Treasury conducted its annual National Financial Literacy Challenge last month. 

The result? 

Of the 46,000 students who took the test, the average score was 56 percent. 

The general consensus is that the average age of someone filing personal bankruptcy is getting younger and younger (*age is not actually declared in a bankruptcy filing). 

It has also been observed more and more students are using student loan money to pay minimum payments on credit cards and this trend does not appear to be improving. 

(Full Disclosure Note: This is just the kind of thing that led to me writing Winning the Cash Flow War and speaking in schools. This can be avoided with just a few weeks of “real world” Financial Education).

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Well, it is nice to see that some things never change. 

Kevin Trudeau (from the Natural Cures “They” Don’t Want You to Know About), now has Debt Cures “They” Don’t Want You to Know About. 

I happened to have the TV on during a morning workout and could not believe some of the things he was saying. Am I really supposed to believe that that he is receiving “death threats” from banks because he is revealing how to pay off your bills? Do some people actually fall for it? Why on earth is the 2007 Playboy Playmate-of-the-Year doing some of the interview? (is she a financial expert as well?) 

Look, most of this stuff is available in your library, and you won’t pay over $40 to get it — not to mention the clever add-ons.

Full disclosure: Yes, I wrote a book; yes, it is financial. Go to the library; there it will be free.  It is called Winning the Cash Flow War (Wiley). I wrote it to help others, and it is doing just that. 

People really do need financial information but not at the expense of taking advantage of them. It should come from people that are in the know— not people that just sell something to make a buck and just recycle information they read somewhere else. 

I am almost sure Kevin’s next book will be Diet Cures “McDonalds” Doesn’t Want You to Know About. I understand weight loss is a big market. 

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