The National Financial Educators Council explores why we need to teach financial literacy in schools and why financial literacy should be taught in schools.
But too many school districts teach personal finance for the first and only time in high school. Historically, the skills of financial literacy have been taught by parents based on the family’s values and resources. Most parents teach their children how to deal with their finance but some parents or guardians of students might not have a sturdy knowledge of personal finance. The basics of personal financial planning-teaching young people about money, its value, how to save, invest and spend, and how not to waste it-should be taught in school as early as elementary school. Don't use plagiarized sources. What happens, however, when parents don’t have the financial literacy knowledge to pass on to their children? Their programs reach elementary through high school students and even offer scholarships for college students. Some believe the duty should be on parents to teach their children the real value of money and how to approach it. As Lynn Fitch states in her reasoning as to the importance of financial literacy, in 2010 as many people filed for bankruptcy as graduated from college.
2 - The Majority of Americans want personal finance taught in schools. When it comes to financial education in schools, many adults feel that more should be … Get Your Custom Essay on Why we should take personal finance in high school Just from $13,9/Page Get?custom paper. Despite financial literacy being introduced to the national curriculum in England in 2014, not everyone believes that school is the place for financial education. But he also points out: 'State mandates requiring high school students to take a personal finance course have no effect on savings or investment behavior,' economic researchers from Harvard, Wellesley College and the Federal Reserve Bank of Chicago found in a study in 2014. Is there a better time for the case of financial literacy in the public school system? Many of us believe that financial literacy is a core life skill that should be taught in every school and college. Junior Achievement USA sends over 350,000 volunteers into schools to deliver a curriculum designed to educate students about financial literacy, workforce readiness, and entrepreneurship.
A 2016 study by FINRA reported that 60% of American adults have not been offered financial education by a school or employer, and even fewer have taken … More to the point 30% of 18-24 year olds spend 30% of their income on debt repayment, while consumer debt and the rate of bankruptcies reach all-time highs.