Should Financial Literacy Courses Be Taught in Schools?
Financial literacy courses should be taught in schools. It’s extremely beneficial to the students, their futures, and even the economy. Differing from the myriad of courses taught that will most likely not be used after students graduate, financial literacy is a lifelong skill!
Many students worry about their futures. After graduating from school, what comes next? Often, they aren’t equipped with the resources needed to be successful at managing budgets, filing taxes, opening bank accounts, buying a home, and many more tasks that are needed for a productive life. According to the odyssey online, “50% of the children in our survey that we asked stated that they had no idea what a mortgage was.”
Some schools have already taken steps to help students with financial education. It had excellent results. According to the National Financial Educators Council, “Starting in 2000, the states of Georgia, Idaho, and Texas began mandating financial education. For students participating in the programs’3rd year of implementation, credit scores increased by 10.89 in Georgia, 16.9 in Idaho, and 31.71 in Texas.”
Also, teaching financial literacy can help to even the playing field. Vince Shorb, the National Financial Educators Council CEO had this to say: “Without education, many kids that are born into lower socioeconomic conditions will end up raising children in similar conditions. Every child deserves equal access to financial education training that can help break the cycle of poverty.”
As I’m sure you’ve come to realize, financial literacy courses in schools have immense benefits. With all the challenges this generation is facing, helping them to get on top of their finances from an early age is extremely important.
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