Petrinovich Pugh & Company LLP

LoIt's the most wonderful time of the year!

April 2007

April is Financial Literacy Month, and The California Society of CPAs honored Petrinovich Pugh & Company, LLP Senior Manager Donna Bumgarner and several other CPA volunteers this month for their efforts to help teach young adults about financial basics and careers in finance. Donna has spoken to students at Evergreen Valley College and DeAnza College and will visit Saratoga High School April 24th.

Petrinovich Pugh & Company, LLP is pleased to support Financial Literacy for Youth Month this April. This is a national opportunity to draw attention to the need for young adults to obtain training in personal finance. The California Society of CPAs reports that the average credit card debt among young adults aged 25-34 increased by 55 percent over the past decade to $4,088, and the average credit card debit among 18 to 24 year olds increased 104 percent.

A study by the Jump$tart ( www.jumpstart.org ) Coalition for personal financial literacy concluded that the average high school graduate today lacks basic skills in the management of personal financial affairs and has no insight into the basic survival principles involved with earning, spending, saving and investing.

Jumpstart says many young people fail in the management of their first consumer credit experience, establish bad financial management habits, and stumble through their lives learning by trial and error. Their objective is to encourage curriculum enrichment to ensure that basic personal financial management skills are attained during the K-12 educational experience. Jumpstart says the wheels of education do not need to be reinvented, they simply require balance.

The California Society of CPAs has been fighting the financial illiteracy epidemic for four years. Petrinovich Pugh & Company is very active in the California Society of CPAs - in fact, the current chair of the 30,000 member organization is PP& Co's managing partner Marc Parkinson.