Monetary education encounters obstacle in standardized assessments

It has been said that an ounce of prevention is worth a pound of cure. The latest monetary and housing meltdowns lead many to wonder if flying by the seat of one’s pants when it comes to individual finance is a good idea. Making proficiency in personal financial mandatory is increasingly discussed as the nation reevaluates training within the aftermath of the monetary crisis. Article resource – Teaching personal financial literacy in schools an uphill battle by Personal Money Store.

A financial reform is in place

Legislators drafting the financial reform bill that became law in 2010 believed that financial literacy education can be a powerful compliment to financial regulation. An Office of Financial Literacy was formed with the law. Through online tools and educational programs, The Office of Financial Literacy will supposedly make an effort to make it easier for teachers to educate students about personal finance and for consumers to educate themselves about money management.

The public relations are only strengthened with this office

The have to educate every person who will learn about financial literacy is also good PR. One company has gotten on board already, Genworth Financial, which is doing what it can to educate personal finances in over 300 high schools across the country. Even Visa has gotten on board with a game called Financial Football, where they make an effort to turn education into a fun game. American Express jumped on the education train also. They posted a site called "Currency" directed at younger adults to help them make wise financial decisions as well.

School training already in play

Financial literacy is going to be a huge step for school teachers. At least that is how Dan Kadlec with MoneyWatch feels. As outlined by Kadlec, teacher approached him at the Financial Literacy National Educators Conference in D.C. and stated that they only teach what is on standardized tests. Financial literacy is something that does not show up on the standardized tests given to student to evaluate teachers.

Info from

MoneyWatch

moneywatch.bnet.com/saving-money/blog/bank-dad/financial-education-at-school-is-it-a-pipe-dream/407/

Sacramento Bee

sacbee.com/2010/11/08/3168061/unstable-economy-requires-new.html

PR Newswire

multivu.prnewswire.com/mnr/genworthfinancial/43291/