Tuesday, October 2, 2007

When will financial literacy be a core school subject?

We leave high school knowing how to calculate what “x” is given “y” and “z” and that “i” comes before “e” except after “c” and yet most high school leavers are never taught the simple ABCs of financial literacy including how to budget, how to responsibly use credit cards and how to set up an investment or savings plan.

In a study by the Financial Literacy Foundation of Australia titled Financial Literacy: Australians Understanding Money of the 7500 people surveyed 84% of the young people stated that it was important to learn about budgeting. Sadly (and perhaps the reason why this isn’t taught in most high schools) only 57% of adults voiced the same opinion.

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By Kirsty Dunphey with No comments


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