The public policy maker or concerned community citizen asking themselves this question can assuage their doubts by examining the academic literature that time and time again has proved the benefits of financial literacy. The benefits of financial education in schools, however, appear to fall on deaf ears of public policy makers. This means they are interested and involved in learning how to deal with money in the best way possible. If you have the resourcing handbook, also known as the Funding, Staffing and Allowances Handbook in hard copy, check that updates in your copy match what is online. The children of today are gearing up to become adult citizens of tomorrow. Financial planning is not usually taught in school. Why money matters: The importance of teaching financial literacy ��� When financial literacy is taught in school, students learn this foundational skill at the critical time, as they are just beginning to manage their own money. https://www.federalreserve.gov/pubs/bulletin/2003/0703lead.pdf, An additional year of schooling increases the probability of having an investment income by 4.4% for whites and 1.7% for blacks (Harvard Business School). The many benefits of financial education in schools are, unfortunately, not realized by most public financial education certification directors who do not incorporate such vital courses into their school curriculum. It makes sense that financial education is taught in schools along with the standard core subjects of English, math, and science. There are a lot of benefits to teaching the children to get them to know about the financial state. The growth is parallel to the future of our country, reflected through quality of the present education system. In most of the schools, they have brought the financial education subject as a mandatory one to make the students know about it in a wider view. In December 2007, the Commission published the Communication ���Financial Education���, in which the role of financial education in the Internal Market and the importance for consumers, society and economy were set out. Why is Financial Education Important: Importance of Financial ��� Creditor Menu: Financial/Creditors/Payments and Print Cheques Report Number Deliveries Due Report CR21105 ��� Displays details of outstanding orders due to be delivered or that have been partially delivered. minimum financial management responsibilities but, with the introduction of Section 21 schools found in the South African Schools��� Act 84 of 1996, the roles of principals now include being accountable (see1.8.3 pg 15/16) for the financial records of their school (In Benefits of Financial Education in Schools: Research | NFEC A recent survey by Ipsos shows that only 13% of Americans were taught about investing in school. A school must stimulate curiosity in the young, impressionable minds and ��� This will help them as they grow up and will follow the principles as taught. 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