This weekend the New York Times asked, how will our financial crisis affect the generation of children being born and coming of age in these hard economic times? Will the children growing up now be more risk averse in the future, as the generation born into the Great Depression was before them? Will a sense of civic duty and public service increase in the young adults who face a job market bereft of opportunities in the private sector?
It’s certain that the current economic climate will force the next generation to be much more aware of their financial responsibilities. No one knows how or when we will emerge from this recession, but it is clear that a heavy burden will be placed on our children to pay off the staggering debt that we have accumulated. The era of mass consumption and spending on credit has come to an end, and the behaviors we have honed as a country over the past two decades must now change.
Here at weProsper, we are committed to providing youths with the strongest possible foundation on which to build their financial future. The road ahead is a long one, but if we equip our children with the skills and tools they need to take control of their finances, they, and the country, will prosper once more.
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