Buy Implementing Financial Literacy Assignment

Buy Implementing Financial Literacy Assignment
A mandatory financial literacy curriculum for primary and secondary students will provide future generations with invaluable fiscal skills. These fundamentals- budget, savings and investing- will enable our children to envision a financial future. When personal finance classes become a graduation requirement, students will have the knowledge and confidence to avoid financial pitfalls when they enter the real world.
In a survey conducted between August 1st and August 5th, 2020, the National Financial Educators Council asked 1,252 people, “Do you think high school students should take personal finance courses in high school?” More than 84% responded that students should take financial literacy coursework.
Recommendation
Implement the National Financial Educator’s Council Turnkey Financial Education Program into Secondary Mathematics Curriculum
· Selected Mathematics teachers will become Certified Financial Education Instructors (CFEI)
· CFEI designation meets top national standards to become competent, credible financial educators
· Teacher’s skills and expertise will help students work toward their personal finance goals
financial literacy in america
Background
Buy Implementing Financial Literacy Assignment
The National Financial Educators Council Turnkey Package: A Complete Financial Literacy Program.
· Savings
· Budgets
· Investing
Working with tablet computers in a classroom Student at a graduation ceremony
With prudent financial acumen, students can avoid common money mistakes made as young adults, such as lack of planning, lack of savings, and incurring too much debt.
The National Financial Educators Council (NFEC) sets industry standards for financial educators and financial counselors that are referenced by organizations around the globe
· Teachers become more confident teaching finances to kids in public financial literacy programs
· Comprehensive financial literacy education resources through multiple mediums to enhance learning and support positive behavior molding.
· Systems, resources, and expertise that optimize financial education program development and reduce barriers to entry.
· Prince George’s County School Board saves the time of creating content for the program curriculum
While today’s youth struggles with their finances and dig themselves into monetary holes that might affect their entire lives, we are in desperate need of a quick, effective solution.
It is important for policy makers to develop an effective education program based on the needs and financial literacy level of the youth. Students leaving high school and incurring student loan debt are doing so without knowledge of the long-term financial impact student loans may create in their futures.
Financial literacy is considered a means to expedite financial well-being, hence, possessing financial literacy would help the households with day-to-day financial tasks, deal with financial emergency and even pull them out of the clutches of poverty.
Black/White Wealth Gap Chart: Median wealth of U.S. families. (Details in article)
Median houehold wealth by race/ethnicity in the United States
The pandemic has shown us how important it is to be financially prepared for the unexpected and strong financial habits started at an early age can be key for a solid financial foundation. 40 percent of consumers report they had trouble paying at least one expense in 2020, and 43 percent of student loan borrowers are currently not able to make payments at all – it further solidifies that it is never too late, or too early, to start financial planning.
Policy Implications
Bill PG 504–19
Prince George’s County Board of Education Financial Literacy Pilot Program Course
Buy Implementing Financial Literacy Assignment
· Requiring the Prince George’s County Board of Education to develop and implement a pilot program that includes a semester-long elective course in financial literacy as a part of the county board’s high school curriculum
· Requiring the board to develop the curriculum content for the course
· Requiring the board to select at least one high school to participate in the program
· Requiring the board to submit a report by June 30 each year on the success of the program to the county’s legislative delegations, etc.
There is no guarantee this bill will become law. The course credit is mandatory, not elective. Students should not wait any longer for financial education. A partnership with NFEC can get a permanent Financial Literacy Curriculum implemented June 21, 2021.
· Knowledge of financial matters at a young age makes administration of finances much easier when becoming adult, getting education, or joining the labor market.
· Taking into consideration the fact that young individuals are a significant factor for the development of national economy, substantial improvement of young people’s financial literacy is essential.
· Young people with a high level of financial literacy would be those who could give greater contribution to state economy, so it is important to research the level of financial literacy among young people.
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References
Caplinska, A.,