Tennessee is one of only 14 states that require high school students to take a course in personal finance, according to CEE’s Survey of the States biennial report.
“Reality Check,” a program sponsored by the Chattanooga, TN Chamber of Commerce, teaches ninth-grade students how to budget their money. The Chattanooga Times Free Press documented the one-day exercise in an effort to bring attention to the need for financial literacy in high school.
“The goal [of Reality Check] is to show students the relationship between education and earning potential,” said Mattie Moran, director of workforce development and education for the Chattanooga Chamber. “You find very few students who are financially literate — this is an eye-opener for them.”
Nan J. Morrison, CEE president and CEO, understands that state-required personal finance classes can make a huge difference in students’ financial literacy.
“You can see that there is a big gap,” said Nan J. Morrison, president and CEO of the Council for Economic Education. “We’ve lived in boom times for many years. There were two whole generations where the attitude was, ‘Finances are kind of interesting, but we don’t really have to pay attention because life will always be good: house values will go up, the government will be there to pay for my retirement, my company will be there to pay for my retirement.’ So we haven’t done a great job with [financial literacy].”
Read the full story here.