November 6, 2015
FOR MANY PEOPLE, personal finance can be pretty boring. I've even had folks planning to attend a financial class tell me they anticipated taking a nap. Folks like having money. They just don't like the chore of learning the concepts it takes to manage it well. And if they aren't learning what they need to know, they likely aren't able to teach their children. Many advocates believe teaching students about personal finance should be integral to the Common Core curriculums being implemented nationwide.
February 17, 2005
THE SCHOOL District of Philadelphia could not agree more with the recommendations calling for the teaching of financial education in our schools made in your recent editorial "How to Help Working Families. " We has already implemented a financial literacy and financial independence curriculum for all grades. It introduces basic concepts about the value of money, saving, budgeting, credit, banking and investments and provides lessons to help children make good choices when spending money.
January 25, 2013 |
A 2010 Brookings Institution survey found that half of American adults flunk such financial literacy questions as this: If the interest rate on your savings account were 1 percent per year, and inflation were 2 percent, would you be able to buy more than, exactly the same as, or less than today with the money in this account after a year? (The answer is less.) Other surveys show that women, African Americans, Hispanics, and the less educated are consistently less likely to be financially literate.
March 27, 2013
PART OF the thrill of the NCAA college basketball tournament is filling out the brackets for the 64 teams that vie for the championship. Playing off the excitement of March Madness, the National Endowment for Financial Education and the Financial Planning Association have created an interactive bracket of 32 financial goals that people can use to narrow down the most important money issues they want to address. To complete the bracket online, visit financialfour.org. Just as with the NCAA tournament, there are four major divisions in this financial game: saving and investing; values, communication and advice; protection and security; and spending.
November 7, 2004 |
Entering Interboro High School, visitors can find the expected and the unexpected. There is the water fountain and the ATM; the principal's office and the teller's window. Banking has come to the academic hallways with the recent opening of a Franklin Mint Federal Credit Union branch, a first in the five-county Philadelphia region, according to Rick Durante, assistant vice president of training and development for the credit union. "This is the only school in the region, and we are only the third credit union in the state, to have an in-school student branch," Durante said.
April 30, 2004
THE COMMONWEALTH of Pennsylvania wants you to start talking about a subject scarier than terrorism, more taboo than sex, and more personal than what's in your bedside table: Your money. And if your instinct on hearing this is to turn the page immediately, you're exactly the person the state's hoping to reach. Yesterday, Gov. Rendell announced the creation of an office of financial education, as well as a larger task force on working families that will be jointly headed by Banking Secretary William Schenck and Rep. Dwight Evans.
October 8, 2003
ONE OF the first things Lance Haver has done as the director of the new city Office of Consumer Affairs is to streamline the process for Philadelphians to lodge complaints against businesses that have done them wrong. But he knows that it's easier still to help consumers avoid getting themselves in tough situations in the first place. The lure of easy credit, backed by slick advertising, has caught too many people in the trap. Too many of us don't know how to budget our incomes.
May 20, 2008
WE HAD TO check the calendar to confirm it was indeed May and not April Fool's Day when we heard about a bill sponsored by Rep. Dwight Evans that would allow for-profit credit-counseling agencies to practice in the commonwealth. It's hard to overestimate the magnitude of stupidity - as well as bad timing - of this bill. It's as if lawmakers said, "Hmm, we've seen what happens when vulnerable consumers get sold bad products by financial companies that end up walking away with billions in profits and leave behind a foreclosure crisis that has battered the world economy.
April 5, 2005
POOR PEOPLE are only poor because they have failed to pull themselves up by the bootstraps like everyone else. They're poor because they prefer government handouts to working. They're poor because they don't know how to handle their money smartly. They're poor because they have too many kids, too many bills, and too many expensive extras like cable TV. These are ugly truths, not because they reflect reality, but because they reflect what many people think about the poor. Some people keep these ideas to themselves, and others make these beliefs public, in the way they direct public policy and write laws - cutting Medicaid, slashing programs to help the poor and counting only on free, unregulated market forces to keep democracy alive.
April 17, 2012 |
This year, both Tax Day and Financial Literacy Day fall on this date. Perhaps we should connect the dots. Many of us are painfully mired in debt and struggling to make ends meet. As of the end of last year, the average U.S. household with credit card debt owed nearly $16,000. Meanwhile, we have failed to make practical financial education a priority. According the Council for Economic Education, only 13 states required students to learn about personal finance as a high school graduation requirement in 2011.