According to stats from the National Council on Economic Education, only seven states need high school students to take a personal finance course, while eight others need courses with individual finance material.
This was from a 2004 survey that also showed only nine states test personal financing understanding. These numbers are starting to alter as the state of Missouri signs up with the fray and will require a one-half unit of credit in individual financing guidelines for graduation in 2010.
A 2004 nationwide study by the Jump-start Coalition for Personal Financial Literacy determined 12th graders’ understanding of fundamental individual finance. On average, trainees who took part in the study responded to properly only 52.3 percent of the questions – an “F” in the majority of high school classrooms.
Financial illiteracy isn’t a problem restricted to students. Half of U.S. grownups received a stopping working grade for their understanding of fundamental economic ideas, according to the NCEE.
There is hope in education. The National Endowment for Financial Education has actually confirmed that as few as 10 hours of class instruction can improve spending and conserving practices.
American Century provides support for monetary education because financial literacy is basic to personal success and a benefit to society.
In cooperation with a premier education consultant, the investment manager developed Tips for Kids and Tips for Life, curricula for use in the class. To date, these programs have been utilized by more than 3,000 teachers in all 50 states. The totally free programs are provided through the Internet to teachers and are presented at education conferences to assist users to implement the programs in their schools.
American Century’s efforts to improve monetary literacy extend beyond the Tips for Kids and Tips for Life programs. Free academic materials and tools are offered on its Website. And the details presented in American Century creator James E. Stowers’ “Yes You Can …” book series are designed to share the personal experiences and ideas that assisted him to end up being successful.
Educating today’s students on standard monetary concepts will pay dividends in the future since they are tomorrow’s social, financial, and political leaders.
In cooperation with a premier education expert, the financial investment supervisor developed Tips for Kids and Tips for Life, curricula for use in the class. The totally free programs are delivered via the Internet to teachers and are presented to education conferences to help users implement the programs in their schools.
American Century’s efforts to enhance financial literacy extend beyond the Tips for Kids and Tips for Life programs.