The Important Need of Financial Education in Schools

We don’t allow students to get their driver licenses without proper education in driving, so why do we allow high scholars to enter the financial world without being taught about finances. Being financially illiterate in the economy today is as dangerous as driving without a drivers education. Teenagers are not taught financial responsibilities in school, which leaves that job to the parents. A survey taken by FleetBoston Financial stated â€Å"75% of parents feel unprepared to teach their kids about personal finance.† We must also not assume that all parents are financially smart themselves. Therefore, it should be the high schools job to teach a mandatory class on the financial education. Financial knowledge is beneficial in all stages of life from collage loans to buying a home in the present economy and creating wealth for retirement. We can all agree that financial intellect would benefit our economy now and the future of generations to come. The 2008 Great Re cession occurred from lack of employment and low consumer spending also from poor financial decisions. In September of 2008 there was â€Å"$975 billion credit card debt held by Americans.†(Huff post) Citizens made faulty money decisions because they were ignorant about credit cards, loans, major purchases and debt. Most agree that a financial class seems appropriate and needed. So why aren’t there simple money management classes required? Four states in America require a financial 101 class to graduate. NationsShow MoreRelatedAssessment of Personal Financial Wellness of Teachers1115 Words   |  5 PagesProper financial education is an important part of life because it affects virtually every aspect of it. Everyone will likely someday face a difficult financial situation, whether large or small, that requires time and money. 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