One More
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Can Personal Finance Education Assist In Preventing An Additional Crisis?
The practice of letting children learn about individual financial the Hard Way might have been a surrounding factor within the financial turmoil, some say. The latest financial and real estate meltdowns lead numerous to wonder if flying by the seat within Your Pants with regards to individual finance is a good idea. As the country regroups financially, a trend is emerging to set up individual finance and a part of standard education curriculum.
Personal finance and financial reform
Educating on finances is an integral part of the 2010 financial reform law. The financial reform law involves the establishment of an Office of Financial Literacy. The intent of the Office of Financial Literacy is to educate students and consumers about financial education and money.
Monetary literacy training is good PR
The need to educate everybody who will learn about financial literacy is also good PR. The program “My Money, My Future” began in over 300 high schools thanks to Genworth Financial. Even Visa has gotten on board with a game called Financial Football, where they try to turn education into a fun game. American Express jumped on the education train also. They posted a site called “Currency” directed at younger adults to help them make wise financial decisions as well.
What classes are already out there?
Financial literacy is going to be a huge step for school teachers. At least that is how Dan Kadlec with MoneyWatch feels. Kadlec attended a recent Financial Literacy National Educators Conference in Washington D.C. Teachers there told Kadlec that they have to focus on topics that are incorporated in standardized tests. Financial literacy is something that doesn't show up on the standardized tests given to student to evaluate teachers.
Citations
MoneyWatch
moneywatch.bnet.com/saving-money/blog/bank-dad/financial-education-at-school-is-it-a-pipe-dream/407/
Sacramento Bee
sacbee.com/2010/11/08/3168061/unstable-economy-requires-new.html
PR Newswire
multivu.prnewswire.com/mnr/genworthfinancial/43291/
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