12/6/22 – Are Financial Literacy Programs Actually Helping Kids Learn About Money?
- December 06 2022
- By: info@njcfe.org
- 0 Comment
Are Financial Literacy Programs Actually Helping Kids Learn About Money?
November 9, 2022 | forbes.com
While schools are right to focus on teaching kids the basics of reading, writing, math and science, the signs we desperately need to teach personal finance earlier in life are everywhere. After all, average savings rates are absolutely paltry across the board, and several studies (including this one) show most Americans aren’t investing enough (or regularly enough) to retire on their own terms.
Credit card debt is also a major problem, as are student loans, and the surging costs of monthly car payments. By offering personal finance education in schools, states and municipalities can prepare kids to make smart financial decisions when it matters most.
Some states have even passed legislation requiring finance education in schools, and several celebrities are offering their own programs. For example, Philadelphia 76ers superstar James Harden announced he’ll use his nonprofit — called the Impact 13 Foundation — to increase financial literacy rates among young adults.
With all this in mind, we have to wonder if these programs are actually effective when it comes to helping kids learn about money.