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Money Math

The Case for Personal Finance Education

Beginning in pre-school, children are taught life skills that will lead them into successful adult life. These include reading, writing and arithmetic - commonly referred to as the three "r"s. However, a skill called upon every day of adult life - personal financial responsibility - is overlooked in schools and, often times, the money management lessons acquired at home are inadequate or, worse yet, detrimental to future financial success.

According to a National Foundation for Consumer Credit (NFCC) survey, 54% of consumers said it is tougher to pay their bills today than it was three years ago.

71% of respondents to the NFCC survey believe that most consumers do not budget their income and expenses.

The NFCC reported that 90% of those surveyed said they worry about paying their bills.

84% of consumers felt money management should be taught in schools.

64% of consumers consistently carry credit card debt.

The National Council on Economic Education recently published a new K-12 curriculum, Financial Fitness for Life. The materials include a Teacher's Guide for K-2, 3-5,. 6-8, and 9-12, Student Workouts (workbooks), and Parents' Guides. Check with the Center for Entrepreneurship and Economic Education for workshop information.