With more than one million Americans in personal bankruptcy and nearly two million people losing their homes to foreclosure, the personal financial crisis will undoubtedly have a ripple effect that will take years to unfold. While much of this situation is global in scope, the consequences that a collective lack of financial education and unconscious money patterns have on our ability to make informed financial decisions has led many into financial trauma. So says Deborah Price, founder of the Money Coaching Institute, an organization that trains financial planners, coaches, therapists and the general public in better understanding core money issues. "Although we have evolved socially and technologically, we remain highly underdeveloped when it comes to money, which is proving to be hazardous to our personal and national health," Price says.

Petaluma, CA (PRWEB) October 23, 2008 -- With more than one million Americans in personal bankruptcy and nearly two million people losing their homes to foreclosure, the personal financial crisis will undoubtedly have a ripple effect that will take years to unfold. While much of this situation is global in scope, the consequences that a collective lack of financial education and unconscious money patterns have on our ability to make informed financial decisions has led many into financial trauma. So says Deborah Price, founder of the Money Coaching Institute, an organization that trains financial planners, coaches, therapists and the general public in better understanding core money issues. "Although we have evolved socially and technologically, we remain highly underdeveloped when it comes to money, which is proving to be hazardous to our personal and national health," Price says.

While the damage has been done and the fallout great, hindsight is valuable in understanding that much of this could have been prevented, Price says. "While the government is responsible for deregulating the mortgage industry and not properly watch-dogging their practices, we cannot rely on our government to do the job of relying upon ourselves and our own knowledge. Part of that formula has to be to demand financial and critical thinking education, which is virtually absent in our schools. Without this, this cycle of financial illiteracy will never end."

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