In a recent New York Post article, CPA John Vento says “the problem of financial illiteracy is perhaps the greatest threat facing our country.” This statement comes after the 2014 Survey of the States reported only 17 states in the nation require a personal finance course as a high school graduation requirement.
In this article CEE’s President and CEO Nan Morrison stresses the need for children to receive proper financial education at school. Studies have shown that many children learn about personal finance from their parents, yet many parents are not properly equipped to to teach their children.
The 2014 Survey of the States found that very few states require courses in personal finance. Morrison calls upon parents to speak with teachers and principals about financial education in the curriculum and to learn about money with their children.
A CNBC article discusses President Obama’s recent proclaimation that April is National Financial Capability Month and his reestablishment of the Advisory Council on Financial Capability for Young Americans. The spotlight is on financial literacy, however it is not taught in most schools.
In this article from Edutopia, Brian Page, high school personal finance & economics teacher and CEE Teacher Advisory Chair, highlights resources to help teachers impart financial literacy lessons to middle school students.
A recent article in the Dallas News questions the most effective method for teaching financial literacy to students. Mary Blanusa, CEE’s Vice President of Government Affairs & Partnership Projects said, “we found that what works is using an active learning method and really engaging the students through simulations, through activities, that are delivered in the classroom by a well-trained teacher.” See the full article here.
US News & World Report references a recent study by H&R Block that reveals adults aren’t the only ones worrying about money. The survey of 13- to 17-year-olds shows that teens are worried about future student loan debt, gaining employment and maintain the standard of living from their childhood homes.