*Financial education needed to help U.S. economy
COLUMBIA, Mo. – Bad mortgage loans and rampant consumer debt were two of the primary causes for the recent economic recession in the U.S. Despite a national trend of debt problems, a University of Missouri researcher has found one American population that holds almost no consumer debt outside of typical home mortgages. (more…)
*MU researcher says business owners can put their households at financial risk*
COLUMBIA, Mo. – Small businesses are seen as an important part of the American economy. These businesses often rely heavily on loans to stay afloat. The recent economic recession has created a reduction in available credit for many small businesses, making it difficult for many businesses to operate. Tansel Yilmazer, assistant professor in the personal financial planning department in the College of Human Environmental Sciences at the University of Missouri, says that lack of available credit has forced many small business owners to use their household savings or other personal assets to support their businesses, putting their personal assets at risk. (more…)
