FPANJ Issues and Positions - Financial Literacy Education
Share |

Financial Literacy Education:

The FPANJ believes financial literacy is one of the most important issues facing individuals and families today. Changing demographics in the household and workplace require at least a fundamental knowledge of personal finance to function in today's society.

If begun early enough, the FPANJ believes basic financial planning education could help avoid many of the problems consumers encounter in later life, such as not saving enough for retirement, accumulating too much or inappropriate debt, or not having a minimum down payment saved for a home.

Although many efforts have been made to provide this information on an ad-hoc and coordinated basis, we believe the emphasis should be on education via the public school system. The New Jersey Legislature passed a high school financial education bill that established a three-year trial in certain districts, beginning in 2010. The trial ends June 2013. The FPANJ supports the permanent inclusion of financial education in the high school.

A recent survey of adults over 18 shows that 44% gained their financial literacy knowledge at home and 80% admit they could benefit from advice on everyday financial questions.

The FPANJ believes its members can be a critical resource in supporting high school financial education, at the local level.


Links:

Financial literacy lacking among high school students:
http://www.fa-mag.com/fa-news/2546-.html

NJ high school financial education bill:
http://www.politickernj.com/jbutkowski/35117/sweeney-bill-establishing-financial-literacy-program-signed-law

Setting a standard for financial literacy:
http://www.investmentnews.com/article/20120304/REG/303049979


 

 

 

 

Membership Management Software Powered by YourMembership  ::  Legal