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It is a pleasure to learn that 16 states have instituted a requirement for graduation from high school one class in personal finances.
The mission statement reads: "requiring a personal finance course" Mission 2030: All students by 2030 will take a one-semester Personal Finance course before they graduate from high school." At least 16 States have been offering personal finance classes. It is a noble goal. It would be ever so nice if we could imbue personal responsibility into our population as well.
In our household, acquainting our children with budget started before they entered school. When either our children were given money as a gift as birthday presents or during the Holydays, they would show it to their Dad.
He would say "you will need to write a thank you note!" Then he would hold up the five dollar bill and say, "oh how kind of you aunt, or godfather, or whoever the giver was, to give you money. Now five dollars is the same as five fingers in your hand, now let us see how we will save it for you. One dollar will go to church, one to saving for future purchase, one for gifts you may want to give to someone else, one for donation for a cause and the last dollar you may spend on bubble gum or a treat for yourself. Does that sound fair?" Our children agreed.
The children were given manila envelopes to store their funds. When there were several dollars in envelopes, the child was taken to the bank to open an account in their name. What an easy way to learn to budget!
Our children are Valerie, Alex and Vera and are self-sufficient, responsible and productive individuals. My hope that all students will be fiscally responsible.
Val Hoover
Marietta