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Putting Personal Finance in Perspective

POSTED: April 2, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , ,

BrianPageBy Brian Page, Personal Finance and Economics Teacher; Teacher Advisory Chair for the Council of Economic Education.

Our children should be the compass to guide our education policy decisions.

Personal finance is a topic that provides students with the tools and concepts to live a happier life. We know personal wellness is impacted by financial stress. Financial stress causes…

    • sleep deprivation
    • strain in personal relationships with friends and spouses
    • weight gain and further health problems
    • an adverse impact to worker productivity

Meanwhile, high school seniors rank personal finance and money management as the most critical skill for personal future success. Financial education is a piece of a pedagogy puzzle that makes our students well rounded, and proliferates through every aspect of their lives.

I believe the future of financial education is at a crossroads. A few researchers, who are unenlightened of the perplexity of our education system, seem infatuated with calling financial education in our schools a failure. The truth is that the only failure is the failure of mandates that allow us to try. Sure, some states are making great progress, but I have yet to find a single state committed to the K-12 recommendations from the CFPB and financial education ambassador Richard Cordray.

I’m hopeful the President’s Advisory Council on Financial Capability for Young Americans will propose a plan to enable our schools to do more. Our teachers feel untrained, unprepared, and void the time we need to give our students a financial education. The standards and best practice recommendations are done and in place. We don’t need to rearrange the pieces we already know are good. We need a funded plan to put our pieces into action in coordination with state departments of education.

As John Hope Bryant would say, “Let’s go…”

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