Thursday, January 26, 2006

Personal Finance Education

I just heard about a free pesonal finance seminar that is being taught in West Nyack, New York. The seminar is targeted for 12 to 16 year-olds to teach them about basic financial literacy. It is being sponsored by the Xi Lambda Lambda chapter of the Omega Psi Phi Fraternity and will be taught by Cynthia Vaughan-Williams, president of Rockland Employees Federal Credit Union. There is also a seminar on real estate financing for homeowners or potential homeowners, but I assume that this is not for the 12 to 16 year-olds. You can read the entire article about the West Nyack financial seminar from The Journal News.

I think that this is great that there is a personal finance seminar that will teach young people how to handle their money. I just wonder why this is not being taught in schools as a mandatory class that kids need to take in order to graduate? I would personally place a class such as this as a much higher priority than many existing classes that students are required to take. Maybe it wouldn't even have to be a full class that takes an entire semester...a good start would be to have a few workshops to teach kids the basics of personal finance.


Anonymous Joy said...

I agree with you completely. Students don't learn very much in school that they can immediately use in life. I remember learning how to write a check in the fourth grade. But it's pointless to wait on schools to do that when they're cutting back on gym, home ec, science, art and reading as it is. I think churches and civic/ community service organizations should take the initiative.

1/27/2006 12:52 AM  
Blogger RS said...

Churches and community organizations would be a good start, but the problem is that then the education is not required. Things that are not required, generally do not get done. That is why I feel this really belongs in schools. I wonder how this change gets made?

1/28/2006 12:43 AM  

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