My topics: Financial Literacy and City Life.

Topoi

Definitions

  • City life is the way that humans live in and interact with the environment of a city. City life has a specific set of qualities, such as more densely populated areas, public transportation or commuting, increased crime, increased cost of living, apartments, and immigration.
  • Financial literacy is a level of knowledge about finance that makes someone able to make wise financial decisions for their situation and their future, along with generally understanding financial concepts.

Comparisons

  • City increased cost of living and money management in expensive areas
  • Renting apartments and mortgaging/investing in a property
  • Immigration and cultural monetary habits

Cause and Effect

  • The cost of living in cities can cause one to have very little disposable income, and a lack of financial literacy in this situation can back people into a corner.
  • A lack of financial literacy can cause people to never make the jump from renting property to owning property. Owning property is considered better in the long run because property can appreciate in value, while rent is subject to increases and you are not paying for ownership.

Circumstance

  • The cost of living crisis needs to be addressed from the people in positions of power, such as lawmakers.
  • A higher level of financial literacy could alleviate the financial issues many face in cities.

Research Topic: How can the cost of living and housing crises be alleviated through financial literacy?

Stasis

Facts

  • Statistics on: poverty/income, cost of living in major American cities, percentage of income going towards housing
  • Level of financial education that makes one “literate”
  • Percentage of Americans that are considered financially literate

Meaning or Nature of the Issue

  • Definition of financial literacy
  • The cost of living crisis will be focused in the United States.

Seriousness of the Issue

  • This issue is quite pressing. Inflation is high and the economy is poor, so many Americans are in tougher positions financially. This especially applies to people who live/work in cities.

Plan of Action

  • Obtain sources focused on the issue in the United States
    • Includes U.S. government reports and official statistics
  • Public education campaign
    • Incentivize learning new financial strategies somehow