Looking for more financial education and ideas on saving? (who isn’t right?) Here’s a resource that may click with you:
The Federal Reserve Bank of St. Louis is offering a financial education series called Soar to Savings and featuring a cartoon character called “Fred the Frugal Eagle.” Here’s an excerpt from the site:
Fred is a bald eagle, a symbol of the United States. Not long ago, bald eagles were on the endangered species list—and some people think that savers are on the endangered species list, too. But the bald eagle is back, and Fred the Frugal Eagle is here to help take savers off the endangered species list. As you work through the course, Fred will help explain the ins and outs and benefits of saving.
Soar to savings covers various financial topics such as:
- Identify key reasons to save.
- Recognize opportunity costs to both saving and spending.
- Recognize the power of compound interest for increasing savings
balances over time.
- Use the Rule of 72 to calculate compound interest.
- Recognize that interest rates create incentives for lenders and borrowers.
- Explain the role of financial intermediaries and financial markets.
- Explain the difference between stocks and bonds.
- Explain how the supply of and demand for loanable funds determines interest rates.
- Recognize that national savings equals investment in a closed economy.
- Explain the paradox of thrift.
- Recognize that the U.S. Government finances deficit spending through the sale of U.S. Treasury securities.
- Explain that government debt can crowd out the supply of loanable funds and affect interest rates.
Learn more here: Econ Ed: Soar to Savings