Mandatory financial education in the schools is the ONLY way out of this credit meltdown long-term. Sure, stimulus this and stimulus that may get us out of the doldrums for a while, but until people know what they’re doing, financially-speaking, we as Americans will be set on yet another collision course – perhaps even worse next time!
After all, Lord helps us all if we actually teach something so practical in school! With all due respect to those other courses, what is more practical than personal finance for a student? Writing checks, using a credit card, and taking out a home or car loan will probably be in 100% of all of the students' lives at some point in their life.
One teacher is teaching a course in personal finance and the article can be found here:
http://www.courier-journal.com/article/20090214/NEWS02/902140456/
I was glad to see this article. And yes, it’ll be a slow process, but financial education is the only long-term solution. So, we better get started now!
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