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An introduction on how to use a financial planning worksheet and the budget planner could increase the chances of a brighter financial future for our children. Whatever your definition of financial education, it���s clear that there���s one thing we can all agree on���financial education is nearly non-existent in our schools. Financial education was already on the European Commission���s agenda before the crisis. A school must stimulate curiosity in the young, impressionable minds and ��� They are denoted to be a life skill which will make you get participated in modern society. Education & Finances. Financial education in schools: the damaging effect revealed - ��� Today, only a handful of states require a high school course in economics and even fewer make teaching financial education topics mandatory. Over half the students in the group that received training were able to successfully construct a budget, a statistically significant amount over the only 1 student who was able to do so before the training (National Bureau of Economic Research). Including financial education as part of the school curriculum is a fair and efficient policy tool. Why money matters: The importance of teaching financial literacy ��� Having proper financial literacy is one of the skills that a person can have to safeguard themselves from financial ��� Psychologically they can get trained in a higher way and they will not find any situation to be a difficult one. April is National Financial Literacy Month, a time devoted to promoting financial education. https://about.bankofamerica.com/assets/pdf/BOA_BMH_2016-REPORT-v5.pdf, “The number one problem in today’s generation and economy is the lack of financial literacy.” – Alan Greenspan, former Chairman of the Federal Reserve, “I think people don’t understand compound interest because typically no one ever explains it to them and the level of financial literacy in the US is very low.” – James Surowiecki, journalist at The New Yorker and author of “The Financial Page” column. http://publications.gc.ca, “Financial literacy is just as important in life as the other basics.” – John W. Rogers, Jr., CEO Ariel Capital Management, Researchers asked individuals two sets of questions, one pertaining to basic financial literacy while the other related to advanced financial knowledge. 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