Recently, Blogging Away Debt wrote a piece on teaching personal finance in schools. It inspired me to write about a program that I have recently become involved with.
Upon graduating from college some years ago, I marveled at how little most people my age knew about the basics of personal finance. They didn't understand how credit cards work, other than, "sign here." They didn't understand mortgages, even some basics of banking. I used to say to whomever would listen, "I think there should be a requirement in college, or high school, that everyone take a basic class in personal finance before graduating."
Years went by and I did nothing to further the financial literacy of America's youth. Recently, I discovered a remarkable group called Operation HOPE, who runs a program called Banking on our Future. They go into high school classrooms and teach a four session program on basics of personal finance. The curriculum covers making a budget, checking, savings, credit cards, and basics of investing. I have signed up to begin teaching classes in May.
The classes are generally taught in lower income communities. I agree that this is the area of highest need, however, most kids, regardless of socio-economic status, are not getting this education. After being involved for some time, I hope to see the program grow to the point where there are enough resources to reach out to middle and even upper income communities.
I will definitely keep everyone updated on my experience.
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