|How to Manage Their Student Loans, Buy Their First Home and Curb Compulsive Spending
Feed the Pig(TM) (www.feedthepig.org), a national public service campaign of the American Institute of Certified Public Accountants (AICPA) and the Ad Council, is launching a free podcast series to help 25 - 34 year olds take control of their finances.
The first five episodes will cover:
- Managing Your Student Loans
- Buying Your First Home
- Paying Down Debt vs. Saving for the Future
- Filing Your Taxes
- Compulsive Spending
The first podcast, Managing Your Student Loans, will be available on March 22, 2007. Interested parties should check back every 10 days for new ones.
feedthepig.podomatic.com and Apple's iTunes store
Career builders talk about their relationship with money and savings. Jordan Amin, a young CPA with Amper, Politziner & Mattia, P.C., in New Jersey, offers helpful financial tips.
Financial illiteracy is a national crisis. Americans spend $1.22 for every $1.00 they earn, according to the U.S. Commerce Department. The statistics for young Americans are just as staggering, according to an AICPA-commissioned study:
- The median net worth of Americans 25-34 years of age is significantly lower than it was 20 years ago, despite increases in income: In 1985, it was $6,788; in 2004, it was $3,746.
- There is an increased willingness among Americans in this age group to acquire unsecured debt: The average level of debt in 1985 was $3,118, whereas in 2004, it climbed to $4,733.
- On average, net worth for 25-34 year olds was 99 percent of income in 1985; by 2004 it was 92 percent.
Feed the Pig offers free financial information to help 25-34 year olds work toward long-term financial security. It transforms the traditional childhood symbol of savings, the piggy bank, into an attention-grabbing icon, Benjamin Bankes. The target audience can find tools to make positive changes at www.FeedthePig.org.
The American Institute of Certified Public Accountants (www.aicpa.org) is the national, professional association of CPAs, with approximately 330,000 members, including CPAs in business and industry, public practice, government, and education. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies; federal, state and local governments; and non-profit organizations. It also develops and grades the Uniform CPA Examination. Headquartered in New York, the AICPA maintains operations in Washington, D.C.; Durham, N.C.; and Lewisville, TX.