Financial Literacy for Teens: It’s About Time

by | Jul 19, 2006 | Observations

How many credit card applications do you receive on a weekly basis, and better yet, how many do your children receive?

The State of Texas recently did a good thing when Governor Perry signed two financial literacy laws. Both programs start this fall. The first one creates personal finance pilot programs for up to 25 school districts, while the other requires Texas high schools to make personal finance education a requirement for graduation from public high schools starting in the 2006-07 school year. That means high school freshmen who graduate four years from now will have financial education as a component of their education.

Some news reports say this education – including everything from learning about bankruptcy to credit card debt to investments – will be worked into a senior-level Economics class, while others believe it could encompass a “personal finance” stand-alone course.

Whatever the process – this is great – and high-time the state stepped up efforts to educate tomorrow’s leaders.

Of course, the state isn’t the first group to come up with this idea. Locally in Houston, for example, Kanaly Trust Company has its own Foundation for Financial Literacy, an effort to educate the public on personal finance and related issues.

I wish more organizations would take a page from companies and businesses like Kanaly. Imagine how much more financially savvy our children might be.

What do you think? Send me a note and we’ll start a conversation on this.

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