Monday, July 31, 2006

Teaching Personal Finance At School

I came across a piece that says that teachers in Pennsylvania are going to school to learn to teach personal finance. Even at a year, I think this is an excellent approach to take. Even though I still believe that it is ultimately the parents' responsibility, basic personal finance education is still a good thing:

"Many young people today lack the basic knowledge needed to understand the increasingly complex financial marketplace - building credit, understanding interest rates and planning for retirement," said Banking Secretary Bill Schenck. "The average score among high school students in a recent survey on financial literacy was a little over 50 percent. This shows an important need to educate students in personal finance."

Let's hope that this is something that is encouraged in every state in the coming years.

1 comment:

Andrew said...

I agree. There is such a huge need for financial literacy in the wealthiest country on the planet. We grow up learning to consume and spend but not how credit works, the importanct of having a budget and saving before you spend. These are such simple and yet profound concepts. Lets hope all schools begin teaching finance basics to kids.