Ted Beck is president and CEO of the National Endowment for Financial Education, a member of the President’s Advisory Council on Financial Capability for Young Americans and chairman of the Jump$tart Coalition. Our grandparents learned more in school about personal finance than our children do now. What they needed to know about the nation’s financial system was included in math class. These texts go far beyond math drills (although there are many, many pages of those, too). Fifth-graders learned that the money they would be depositing in their school savings banks “should be earned by the labor of the pupil or saved by self-denial,” and then calculated how much profit a student deposited by making jelly from “windfall apples.” Seventh-graders learned that “people insure their lives so that their families may be provided for in case the breadwinner should die,” and then compared the cost and benefits of premiums for ordinary, term and endowment life policies. Original source:http://blogs.wsj.com/experts/2017/0...onal-finance-in-school-why-cant-our-children/
I remember that we had a class about how to fill out a check. You put in the amount, then then you date and sign. That was the extent of our finance education, how to write a check!
It's pretty sad that we aren't taught this in our schools anymore, and our kids aren't either. I tend to believe in a lot of conspiracies, so I'll bet a lot of it is because not educating "the masses" leads to them spending more money in the marketplace (not learning to save/budget/etc.), opening more credit cards, paying interest off for their entire lives, etc. Teaching children to be responsible will keep some money out of the pockets of the 1%. Just my opinion.
