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$16 Trillion In Debt, Treasury Dept. Offers Prizes To Kids Who Share The Best ‘Savings Stories’

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photo credit: rosefirerisingWith the country $16 trillion in debt, the U.S. Treasury Dept. is offering prizes to kids (K-12) who share the best “savings stories.”

The U.S. Treasury Department’s “Save Out Loud” contest is offering prizes to winning students who submit the most compelling photos, videos, and accounts of their savings success stories:

“Do you know a student with a savings story to share? The U.S. Department of the Treasury wants to hear about it!”

I’ll bet they do.

With the U.S. national debt exceeding $16 trillion – and the government spending a trillion dollars more than it’s taking in this year – the government could probably use all the savings tips it can get.With the country $16 trillion in debt, the U.S. Treasury Dept. is offering prizes to kids (K-12) who share the best “savings stories.”

Read more from this story HERE.

US Economy in Shambles: 40% of Americans Have Less Than $500 in Savings

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A survey of about 1,100 Americans finds that more than 4-in-10 respondents admit they don’t have more than $500 in readily accessible savings.

The survey is a kind of departure for CreditDonkey.com, a website that compares credit card deals. Not respondents all were poor. Some had big houses, big mortgages or 401(k)s, but still no more than five Benjamins to rub together right now.

Jill Michal, president and CEO of the United Way of Greater Philadelphia and Southern New Jersey, reacts to the lack of liquid assets.

“It doesn’t shock me, but it does scare me. You know, we often say that the reason so many people fall off the edge in a tough economy is that they’re standing way too close to it, and I think this is a perfect demonstration of that.”

Michal says there’s a lack of training in personal finances.

Read more from this story HERE.