Financial Education Can Pay Dividends For Youth

Financial Education Can Pay Dividends For Youth



Financial Education Can Pay Dividends for Youth
According to​ statistics from the National Council on Economic Education, only seven states require high school students to​ take a​ personal finance course while eight others require courses with personal finance content.
This was from a​ 2018 survey that also showed only nine states test personal finance knowledge .​
These numbers are beginning to​ change as​ the state of​ Missouri joins the fray and will require one-half unit of​ credit in​ personal finance instruction for graduation in​ 2018.
A 2018 national survey by the Jump$tart Coalition for Personal Financial Literacy measured 12th graders' knowledge of​ basic personal finance .​
On average, students who participated in​ the survey answered correctly only 52.3 percent of​ the questions - an​ F in​ most high school classrooms.
Financial illiteracy isn't a​ problem limited to​ students .​
Half of​ U.S .​
adults received a​ failing grade for their knowledge of​ basic economic concepts, according to​ the NCEE.
But there is​ hope in​ education .​
The National Endowment for Financial Education has confirmed that as​ few as​ 10 hours of​ classroom instruction can improve spending and saving habits.
Because financial literacy is​ fundamental to​ personal success and a​ benefit to​ society, American Century provides support for financial education .​
In cooperation with a​ premier education consultant, the investment manager developed Tips for Kids and Tips for Life, curricula for use in​ the classroom .​
To date, these programs have been used by more than 3,000 educators in​ all 50 states .​
The free programs are delivered via the Internet to​ educators and are presented to​ education conferences to​ help users implement the programs in​ their schools.
American Century's efforts to​ improve financial literacy extend beyond the Tips for Kids and Tips for Life programs .​
Free educational materials and tools are available on its Web site .​
And the information presented in​ American Century founder James E .​
Stowers' Yes You Can.. .​
book series is​ designed to​ share the personal experiences and ideas that helped him become successful.
Educating today's students on basic financial principles will pay dividends in​ the future because they are tomorrow's social, political and economic leaders.




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