Should Financial Literacy Be Taught In Schools

What is Financial Literacy anyway? Financial Literacy is defined as "...the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being..."(Hagler, 2016). Currently America is ranked 14th in financial literacy...14th. Let that number really sink in for a minute. For a country that is supposed to be the land of opportunity, we sure are not giving our youth the advantage of knowing how to be successful. Almost half the country does not have enough money saved to pay for even a small emergency expense. This money is a lifesaver for anything from a kid’s new braces, to emergency repairs on vehicles and homes. What makes it worse is that almost a third of Americans also regularly carry credit card debt, a whopping $15,000 according to the National Reserve. (Long,

Why is it important for this education to come from a certified teacher, in a classroom setting? Well it is clear that are current method of allowing parents to educate their kids about money is flawed, as seen in the previous argument. "Most parents are either unwilling, unable, or just uncomfortable providing financial education to their own kids..."(Manzo, 2008) Teaching students about money in school allows for every child to be exposed to the same information about money management, no matter what their life at home may be like. Teaching kids early and consistently will lead to good money management habits being formed, and better-informed financial decisions being made, for a lifetime. An added benefit of students being taught about financial literacy in school, they take it home to their parents! Not only will we be exposing students to money management and spurring their interest in the subject, we will be continuing the education and resources of adults, as the financial word is constantly