Financial literacy education in schools may look like: Provide teachers with support and training to teach the skills needed Most high-school educators have backgrounds teaching subjects other than personal finance, so it’s no surprise that research like one 2010 University of Wisconsin–Madison study shows few teachers possess the confidence to teach the subject, even though a majority are willing to learn. Think about the jump start your child could get on life if, when they graduated high school, they were already in … Studies have shown that 72% of parents experience at least some reluctance to talk to their kids about financial matters. But, I think that seems to be an exception rather than the rule. But not nearly enough students in the country receive this education: Just one in six high-schoolers in the U.S. are required to take at least one stand-alone personal-finance semester for graduation, according to a study conducted this year by my organization, Next Gen Personal Finance. It’s not so much that Morrison wants to insist that personal finance be taught as a class, like English, math or geography. One University of Wisconsin–Madison study found that only 37% of K-12 teachers had taken a college course offering personal finance. Enjoy the video! Basics would be better than nothing. Thanks for the reminder finance is a personal thing. It’s not complicated – just give your kid some money to manage (money you would have spent on him regardless) and then start having conversations about how he’s going to spend it. Teaching teenagers about personal finance seems like a no-brainer (to me at least, coming from a personal financial advisor). Kayla Bousum, who also has participated in and led personal-finance education seminars, teaches a required personal-finance course in Johnston High School in Johnston, Iowa. I think though a big part of the problem is a lot of parents are really lousy with money too, and so even if they wanted to teach their kids, they don’t even know where to start, largely because no one ever taught them. Throw our consumeristic, I want it now, culture on top of that and I think it’s really a serious problem that is only going to get worse. We teach kids personal finance – by giving them money to manage, of course. Here are the main reasons: 1. Teachers don’t know Working on from the last point, teachers are older than the students (normally). They also see high-school graduates entering the workforce who need to think about emergency funds, paying taxes and raising their credit scores. These are all things that I think should be mandatory as part of the education system. Kids graduate with a good knowledge of the periodic table but don’t know the basics of credit, mortgages or loans. Ultimately, as a parent I think it is my responsibility to train my child and we have tried to do that. Over the next decade, we will increase our financial support significantly. And, I'd love to hear your take on this too. Your rating: None Average: 3 (1 vote) Tweet. 2 - The Majority of Americans want personal finance taught in schools. High school students go on to make better financial decisions in states that require personal finance coursework. Teaching teenagers about personal finance seems like a no-brainer (to me at least, coming from a personal financial advisor). High school students go on to make better financial decisions in states that require personal finance coursework. Sure, in year 10 we learned basic and compound interest but that is about it. The result is that the U.S. ranks 14th -- behind Israel, Canada, Australia, Singapore and much of Europe -- … According to the National Financial Educator Council, not knowing enough about personal finance costs Americans over $295 billion per year collectively. The best high-school teachers see that their students need financial knowledge and skills. See all Articles by Daniel Britton See Daniel Britton's Expert Page Get Updates on Personal Finance Get Updates on Daniel Britton. Here are three reasons why personal finance should be taught at the high school level: Money Management Is a Learned Skill. If money matters is a personal topic, the schools believe this too ought to be covered at home. A 2018 study found that three quarters of Britons were worried about their finances, and further research concluded that over half of UK adults are concerned that their mental health is suffering in relation to money worries. 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