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Responsible credit use develops through a foundation of strong personal finance principles and an understanding of the costs and benefits of credit. An awareness of the CARD Act will help your teen learn the rights and responsibilities of consumers using credit. A "Credit Clue" quiz will reinforce these concepts.

Cards, Cars and Currency is a set of personal finance programs that encourages participants to learn about three areas of personal finance: credit cards, debit cards and purchasing a car. Cards, Cars and Currency includes five individual programs that can be used together or individually to enhance personal finance learning.

Watch this short video to get your bearings in a seemingly endless sea of financial-aid options. Grants, scholarships, loans—you name it—we cover it in this informative clip.

In 2012, the world faced a major financial crisis for the second time in five years. Whereas the first crisis in 2007-2008 was driven by excessive mortgage debt owed by households, the crisis in 2012 was driven by excessive government debt owed by entire countries. Waller first explored the reasons why a country’s ability to borrow to finance current spending can be very beneficial. However, since the rewards of borrowing are felt immediately and the pain is postponed until the future, it can be very tempting to borrow for short-term gains while downplaying the pain to come. As a result, debt burdens can rise to unsustainable levels, leading to crisis and austerity the tragedy of sovereign debt. In examining the reasons behind the current sovereign debt crisis in Europe, Waller explained the history of the formation of the European Union (EU), which focused on the creation of a monetary union, not a fiscal union. While it established five criteria for membership (concerning long-term interest rates, inflation, exchange rates, deficit-to-GDP and debt-to-GDP), no contingencies were made for a secession or ouster of a nation. In addition, when Greece won entry to the EU in 2000, it met none of the five criteria.Several “great shocks” in 2009 and 2010 then woke up the financial markets to the risk of default on European sovereign debt, which led to increased interest rates because financial markets no longer viewed Italian, Greek, Irish, Portuguese and Spanish debt as close substitutes for German bonds.Christopher Waller, senior vice president and director of Research, led the presentation and discussion on “Sovereign Debt: A Modern Greek Tragedy” on May 8, 2012, as part of the St. Louis Fed’s “Dialogue with the Fed” series. After his presentation, Waller and economists Christopher Neely and Fernando Martin took questions from the audience. The Q&A was moderated by Julie Stackhouse, senior vice president of Banking Supervision and Regulation.

Have you ever bought something you really couldn't afford? You simply swipe your credit card and leave the store with something shiny and new. That instant gratification overpowers any thought of the regret you'll have when you must start paying off your accumulated debt. Economists call this phenomenon time inconsistency. Read the September 2011 issue for some ideas on how to prevent time inconsistency for yourself and your government.

MyMoney.gov is the U.S. government’s website dedicated to teaching all Americans the basics about financial education. Throughout the site, you will find important information from the 20 federal agencies and bureaus designed to help you make smart financial choices.

This short-and-sweet booklet from the Federal Reserve Bank of St. Louis helps parents teach their school-age children how to manage money.

A personal finance education resource for schools, nonprofit community organizations, financial services providers and consumers to help young people, adult consumers, families and others develop a plan for building personal wealth. Presents an overview of personal wealth-building strategies that includes setting financial goals, budgeting, saving and investing, managing debt, and understanding credit reports and credit scores.

A collection of 13 lessons plus assessment activities designed to accompany the Building Wealth resource in high school classrooms. The lessons use a variety of instructional techniques and include student activities, handouts and presentation visuals.

A personal finance education resource for schools, nonprofit community organizations, financial services providers and consumers to help young people, adult consumers, families and others develop a plan for building personal wealth. Presents an overview of personal wealth-building strategies that includes setting financial goals, budgeting, saving and investing, managing debt, and understanding credit reports and credit scores