The Educator's PLN

The personal learning network for educators

My New Year's wish is for our country to provide all of our kids with the financial concepts and tools they deserve to make wise and informed financial choices.

The average household income for the bottom 90% of American families is $29,840. Knowing this, it's not hard to understand why 85% of parents want a stand-alone course in personal finance to be a high school graduation requirement. Our families want help for their kids, yet we continue to ignore them. Only four states require a stand-alone course in personal finance as a high school graduation requirement.

Every kid deserves a fair shot. By failing to equip them with the financial literacy skills and concepts they need to make informed financial choices, we are not giving them a fair shot. We are certainly not doing everything we can to close the inequality gap. As this research indicates, there is a direct correlation between an inequality of financial education and economic inequality.

The coursework I am alluding to is not just what they will need in the future, it is often what they need right now. For example...

• We are asking our children to make one of the biggest debt choices of their lives while still in high school, student debt. Student debt has now surpassed credit card debt - - it is $1 trillion. We owe it to our kids to incorporate resources like this one and this one in our classrooms to make sure they are making an informed college choice.

• Lots of high school students have jobs and pay taxes, but don't know how to fill out basic tax forms or file for themselves. It is time we begin integrating resources like this one so they understand how to manage their taxes.

• According to this research, the biggest mistake low-moderate income (LMI) Americans make is they do not have any emergency savings, often because they are unbanked. It baffles me that we do not teach our kids the importance of savings, or the power of compound interest using resources like this one.

• Many high school students are purchasing cars on their own, without any direction. We owe it to them to provide resources like this so they can make an informed choice.

• Of those who carry a balance on their credit card from one billing cycle to the next, the average credit debt is $15,418. When our high school students turn 18 they are eligible for a credit card, and if used wisely it can be a great tool for them to build their credit score. If used inappropriately, it can ruin their lives. It is time we start to teach kids to understand credit card solicitations and their credit bills using resources like this one.

• A lot of our high school students have trouble figuring out what career field would be a good fit for them. Resources like this one are very helpful, and we owe it to them to expose them to this information.

Let's make 2013 the year we commit to teaching to the whole child.

Views: 37

Tags: and, business, consumer, education, family, financial, literacy, policy, science, social, More…studies

Comment

You need to be a member of The Educator's PLN to add comments!

Join The Educator's PLN

About

Thomas Whitby created this Ning Network.

Latest Activity

David Chiles posted a status
"It is proper Netiquette to filter online account feeds. Consume good information. http://www.NetworkEtiquette.net"
yesterday
Norma-Jean Nielsen liked Michel Boustani's blog post Finland schools: Subjects scrapped and replaced with 'topics' as country reforms its education system
Tuesday
Dinah56pdd posted blog posts
Tuesday
Carolyn Dianne Williams and Michel Boustani are now friends
Mar 22
Carolyn Dianne Williams left a comment for Michel Boustani
"Thank you Michel. I am very interested in this site. I do not know how much I can share of our Australian Education Standards and Curriculum but I am sure professional development options will arise sometime.  Looking forward to chatting from…"
Mar 22
Darla Nicole Zooberg updated their profile
Mar 22
Darla Nicole Zooberg posted a blog post

Academic Rigor

Academic rigor plays a vital role in providing our students with the highest quality of education. The following Prezi was designed as a reference for strategies that promote effective research-based instructional strategies based upon Robert Marzano's "Nine Instructional Strategies for Effective Teaching and Learning". How can you incorporate these strategies in your classroom to support student learning needs and improve student achievement? The following link can be used to access my Prezi:…See More
Mar 22
Michel Boustani posted a blog post

Finland schools: Subjects scrapped and replaced with 'topics' as country reforms its education system

Finland schools: Subjects scrapped and replaced with 'topics' as country reforms its education systemWith Finland radically reforming the way its children are taught, Richard Garner visits Helsinki to find out if the teachers approveOriginal paper link:…See More
Mar 22

Awards And Nominations

© 2015   Created by Thomas Whitby.   Powered by

Badges  |  Report an Issue  |  Terms of Service