Feed the Pig, the American Institute of Certified Public Accountants' (AICPA) public service campaign, this week launched a free podcast series to instruct 25- to 34-year-olds on how to take control of their finances.
The first podcast, "Managing Your Student Loans," is available now through Apple iTunes store: http://feedthepig.podomatic.comâ.
The next four episodes include:
- Buying Your First Home
- Paying Down Debt vs. Saving for the Future
- Filing Your Taxes
- Compulsive Spending
A new podcast will be available every 10 days.
According to an AICPA-commissioned study, the median net worth of Americans 25 to 34 years of age is significantly lower than it was 20 years ago, despite increases in income: In 1985, it was $6,788; in 2004, it was $3,746. In addition, there is an increased willingness among Americans in this age group to acquire unsecured debt: The average level of debt in 1985 was $3,118, whereas in 2004, it climbed to $4,733.