During the past 10 years, consumers have experienced a substantial growth in credit and an unprecedented increase in the rate of inflation. As increases in credit usage continue to outpace increases in real income and as savings rates decline, consumers are increasingly likely to suffer financial problems and are increasingly in need of money management skills. Data from a 1977 study of the characteristics of individuals who file for bankruptcy and from a 1984 study of nonbusiness bankruptcy in Texas offer valuable insight into the types of individuals likely to experience serious financial problems and the areas that need to be addressed in high school courses dealing with money management and credit usage skills. Such courses should stress the following: the fact that it is the average-income, white male between the ages of 30 and 40 who is most likely to file for bankruptcy; the importance of developing a personal budget and keeping personal financial records; the need to view families as minibusinesses; the importance of savings accounts and health insurance; the necessity of evaluating the cost of items in relation to their value; the effects of inflation on money management; and the necessity of adjusting consumption to offset job- and inflation-related changes in income. Students should be exposed to information about debt-load capacity, alternative sources of credit, and the importance of communicating with creditors when debts cannot be paid on time. (MN)