TimeMAPS for Young Adults
Congratulations, you have completed your formal education. You attended
classes, studied and prepared for hundreds of tests. You did this so you
could get a great job and earn the money necessary to support your lifestyle.
Well, there is good and bad news ahead of you and the TimeMAPS software
will help you overcome the bad news.
"And so while you might be a very smart doctor,
lawyer, engineer, nurse, teacher, fireman, if you can’t
manage your money, for the rest of your life you’re
going to have problems ..."
Doug Tillett, VP Communications, Federal Reserve of Chicago
Financial Literacy and Education Summit, May 2007
The good news is you'll probably find a great job, if you haven’t
already. Did you know that the average young adult will earn significantly more than
$1 million dollars during their lifetime? And they'll get to decide how
to spend much of it? Wait a minute! That could be good or bad
depending on whether you know how to manage your money.
"Financial literacy is a big problem, a
very real problem with millions of young Americans
lacking even the most basic money management skills."
Jean Chatzky, Moderator
Financial Literacy and Education Summit, May 2007
The bad news is everyone expects you to know how to manage your money.
They assume you know how to buy a car/home, select a bank, use a budget,
invest, purchase all types of insurance and plan for your retirement even
though you probably didn’t learn how to do any of this in school or at home.
"They go out [of school], they’re expected magically to
know how to manage their own affairs with no training."
Richard Cordray, Ohio State Treasurer
Financial Literacy and Education Summit, May 2007
In addition, the financial world you are entering is much more complex
than the world your parents and grandparents entered. You will be
responsible for the lion’s share of your retirement. There are literally
hundreds of ways for you to invest and each has a distinct level of
risk associated with it. A new type of home mortgage seems to come
out each week.
"The consumer is in a perfect financial storm. All
of a sudden, he’s expected to handle health care through health
care savings accounts; he’s expected to handle loans for education;
he’s expected to provide part of his own retirement ..."
Bill Seidman, CNBC Financial Commentator
Financial Literacy and Education Summit, May 2007
You will pass through many major life events such as buying cars,
homes, getting married and having children in the future. Very
little, if any, of the formal education you completed taught
you how to financially prepare for these life events.
"Too many of us learn about personal finance
because we hit an experiential point in life. You learn
about mortgages when you’re about to buy a house; you
learn about car loans when you’re about to buy a car ..."
Steven R. Malin
Federal Reserve Bank of New York
Financial Literacy and Education Summit, May 2007
The majority of young adults learn about money and Personal Finance by
“trial and error” simply because they have not
been taught these concepts in
high school, college or at home. In the process, many will make mistakes
placing them in many dangerous financial situations.
A home is one of the largest investments you will make during your lifetime.
Buying a home without knowledge of the home-buying process, home equity,
home mortgages, mortgage insurance, homeowner’s insurance and the true
cost of homeownership is dangerous. A lack of financial knowledge can
turn what is typically a great investment into a financial nightmare
you may never overcome.
The TimeMAPS software teaches you the money management and life skills necessary
to manage your money and life as well as prepare you for the major
life events you will encounter in the future. It will teach
the essential concepts you must understand to make each life event
a positive experience.
Why should you purchase the TimeMAPS software?
- Computer based
- Always current unlike textbooks
- Highly interactive and personal
- Affordable
- Can be completed in the privacy of your home
- Self-paced
- Easy to install
- Easy to use