Who Is Pay Your Family First?
Whether it’s receiving our first allowance or signing our first rental agreement, the basis for financial literacy and money management begins in the home. Empowering kids and their families with the confidence to understand and tackle the complexities of fiscal responsibility creates stronger communities and a wealthier future. This is what Pay Your Family First is all about.
Through innovative, thoughtful and easy-to-understand programs designed to be immediately applicable in the real world, Pay Your Family First teaches the practical skills that will give a new generation the self-assurance to become masters, instead of slaves, to their money.
Pay Your Family First was founded by Sharon Lechter, a CPA, mother of three and the New York Times best-selling co-author of “Rich Dad, Poor Dad” And the national bestseller “Three Feet From Gold.” Lechter founded Pay Your Family First in 2007, shortly after her oldest son found himself in credit card debt during his first year college, with a mission to increase financial literacy across America.
What’s at Stake
Recent research reveals:
- Just 26% of teens understand credit card fees*
- The average teen thinks that he/she will earn an annual salary of $145,000*
- 76% don’t know if using a check-cashing service is a good choice or a bad one*
- Only 34% can balance a checkbook*
- 62% of 18- to 24-year-olds are saving very little or nothing at all**
- 32% of college students are “not at all” or “not very well” prepared to manage their finances†
Clearly, today’s youth are not prepared to take on the financial burdens of tomorrow.
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