financial literacy classes need funding

Finance


income tax. Applying for a credit card. insurance rate. credit score. W-4 form. Application for apartment rental.

Most adults are not only aware of what all these items are, but have also experienced them firsthand. You need to understand your financial necessities, such as the importance of , and how to budget your income so you don’t run out of money before your next paycheck. It’s simply part of functioning well as an adult. Having financial literacy is the path to homeownership, a rewarding career, or entrepreneurial success.

High school students should also have basic knowledge of budgeting, saving money, using credit wisely, and properly assessing the financial impact of loan repayment requirements. Whether a student plans to attend college after graduation, or to serve in the military or labor force, it is imperative that they acquire basic economic skills.

Unfortunately, while many high schools in the area offer excellent personal finance courses, some do not. Where courses are available, students are not required to take them.

Millia Gray, Regional Director of Education at Chelsea-Groton Bank, recently told Day’s reporter that she sees many high schools offering excellent personal finance classes, but others, especially those struggling with cash flow. Schools in tough districts don’t offer similar classes to their students, he said. chance.

“Unfortunately, districts with more money can afford to provide financial education to students,” she said. I know you haven’t received it.”

This injustice is unacceptable at a time when we all need to figure out for ourselves the cost-effectiveness of various health and car insurance, loan products, and retirement savings plans.

Some Connecticut legislators want to change this reality, and a bill is currently pending that would require financial literacy to be taught in high schools. Gray provided testimony in support of the bill, saying the consequences of lack of financial literacy are more serious than the occasional bounce of a check. and risked losing security clearance in the military and risked making health decisions. She said it is likely that

We agree with Gray and lawmakers who proposed this bill that basic financial literacy is mandatory. Not understanding the basics like the value of saving money, maintaining a high credit score, and getting the right deductions from your payroll directly impacts your daily life. The Day has a particular interest in financial literacy in connection with the Paper Housing Solutions Lab. Because we understand how well young people understand basic financial decisions directly impacts their readiness to rent an apartment or own a home.

We understand the important nature of this learning, but are reluctant to support yet another state mandate on public education. I understand how little time is left for my classroom pursuits.

We believe a better approach to ensuring that high school students graduate with solid personal finance skills is through legislation that gives school districts financial incentives to develop and teach such a curriculum. is thinking This could lead not only to standalone personal finance courses, but also to the creative integration of financial literacy into existing mathematics curricula.

We urge lawmakers to amend the proposed legislation to allow school districts to offer attractive incentives to students for these opportunities.

The Day’s editorial board meets regularly with political, business and community leaders, and meets weekly to formulate editorial views.Consists of a president and an issuer Timothy Dwyer,Editor-in-chief Isaskun E. Larrañetastaff writer Erica Moserformer editor-in-chief Tim Cotter Retired as Deputy Editor-in-Chief Lisa McGinleyHowever, only publishers and editors of editorial pages are responsible for producing editorial opinions. The Board operates independently from the Day Newsroom.





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