As someone that deals with the aftermath of the financial mess, my answer will surprise you. Yes, there should be classes, but it is NOT a vaccination against financial problems, but it might be part of a longer-term multifaceted solution. My observation is that teaching personal finance in high school is a bit like requiring …
Financial literacy – the most misunderstood and abused good intention. It is alarming how we love simple solutions for complex problems. We want politicians to solve our ills in a soundbite and we want money problems to go away with a class. The reality is neither of those solutions is ever going to work. I …
One of my Twitter buddies, Thomas Fox (@thomasjfox) sent a tweet about an article titled “Financial Ignorance is Not Bliss.” When Americans were questioned by the National Foundation for Credit Counseling, more than 41 percent of adults gave themselves a grade of C, D or F when it came to their understanding of financial literacy. …