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May 3, 2008

"True abundance does exist; it flows from sufficiency, in an experience of the beauty and wholeness of what is. Abundance is a fact of nature. It is a fundamental law of nature, that there is enough and it is finite. Its finiteness is no threat; it creates a more accurate relationship that commands respect, reverence, and managing those resources with the knowledge that they are precious and in ways that do the most good for the most people." --Lynne Twist

Personal Finance for the Masses

It is a "well-established fact" that "a substantial proportion of the general public in the English-speaking world is ignorant of finance," writes Niall Ferguson, an historian at Harvard University, in his forthcoming book about the history of finance, "The Ascent of Money". He produces a long list of evidence to support this conclusion. According to one survey last year, four in ten American credit-card holders do not pay the full amount due every month on the credit card they use most often, despite the punitive interest rates charged by credit-card companies. Nearly one-third said they had no idea what the interest rate on their credit card was. Fortunately, a compelling global effort is being taken up by several interesting nonprofits to teach personal finance to the masses, described in detail by The Economist.