Applauding Vermont’s Personal Finance Literacy Program
We learn to read, write, and add numbers in school, but sorely lacking has been a curriculum to teach the practical matters we face in life. Included in life’s lessons are our personal finance literacy. And personal finances affect just about everyone in one way or another. We need to budget our finances, save for our retirement and children’s education, manage credit card debt, qualify for a home loan, and understand our tax returns, to name a few areas.
Vermont Launches Personal Finance Literacy Pilot Program
BURLINGTON, VT (04/04/2012)(readMedia)– A new program to study the effectiveness of financial literacy education in Vermont high schools was launched today. The pilot program is the result of a partnership between state government entities, non-profit corporations and financial institutions. The new program will be managed by Champlain College’s Center for Financial Literacy.
Ted Beck, president & CEO of the National Endowment for Financial Education (NEFE) in Denver, Colo., also was on hand to discuss the national importance of improving financial literacy education in schools. He also spoke to the Legislature’s Committee on Education about the program and need to incorporate it into high school curriculum. “Vermont is one of the national leaders is this area and you have the potential to create a great model for the entire country,” he said. Read more…
Teaching Students Personal Finance Literacy
It would be great if the personal finance literacy pilot program meets with results and other schools adopt this program or other programs. High school students are at an age when they need to be taught the value of money, basic bookkeeping, and how to save. Ideally, parents should teach their children from a young age by giving them piggy banks, giving allowances in exchange for chores around the house, and leading by example. But not all kids are lucky enough to have parents who teach them to be responsible in their personal finance literacy.
Schools should fill in the gaps and make sure every student has a firm grasp on personal finances.