Saturday, June 22

Educators Focusing On Teaching Financial Literacy to Nation’s Youth

When it comes to being an adult, being able to effectively handle and understand all the various aspects involved in finance is an essential responsibility. Even though financial literacy is imperative for every American adult, they don’t always pick up these skills early on in life.

In the past, since adults never learned too much about finance in school, they had to educate themselves on certain financial aspects. That still holds true today, but to even more extremes. In fact, according to a study from the National Endowment for Financial Education, only 24% of millennials have the ability to demonstrate basic financial literacy.

Luckily, teachers and educational programs across the country are hoping to change this and inform young students about the importance of financial literacy.

According to ABC News, middle school and high school students are now getting early lessons in finance, specifically pertaining to money management and debt.

Foolproof, a non-profit curriculum creator that challenges students to be skeptical and perform their own research before making financial decisions, is currently being sought in more than 5,000 high schools across the country — with the program expanding to children between the ages of 12 and 15 years old.

“Kids are being influenced by marketers at younger and younger ages — we’re working our way back toward the next logical step from high school,” said Drew Guthrie, Foolproof’s chief operating officer. “Middle school is when kids figure out who they are and their individual personality traits take hold.”

Additionally, individual educators are also leading the charge to promote better financial understanding to the nation’s youth. Village News reports that Rachel Watson, a finance major who spent time working at a mortgage company, is returning to school to share her financial knowledge with her students.

“I enjoy them as young adults because they know enough things to engage with you, but they also sometimes need that person to guide them differently and understand them,” said Watson.

Dr. Lennette Coleman, principal at Ariel Community Academy, believes early financial education is essential.

“If a child is old enough to sit in front of a TV screen and see a commercial, then they’re old enough [to learn about finance],” Dr. Coleman added.

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