Even Wall Street Bankers’ Kids Need Lessons in Financial Literacy

July 8, 2024 | ft.com

Credit: Image by Tumisu from Pixabay

David Peng presses a key on his computer and a “wheel of fortune” spins on the whiteboard at the front of his class, on financial literacy for teenagers. It stops on a painful scenario: “A neighbour’s air conditioner leak has destroyed your computer.”

Some of his students laugh with relief: they had allocated one of 17 plastic beans on the worksheets in front of them to insurance premiums. The rest sigh as they are forced to remove three beans from other items to pay for a new computer, depriving them of planned spending on clothes, concerts or eating out.

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