Financial Literacy for the 21st Century

January is Financial Literacy Month. Economists are currently indicating that the massive financial meltdown that occurred in 2008-09 is beginning to stabilize and reverse itself. Major banks are beginning to repay the federal bank bailout money with interest, taking pressure off the federal deficit and freeing these funds for job creation initiatives.

Other signs of a recovery are also emerging, but very slowly. A jobs initiative will require a large federal investment; but each job created will increase the tax revenues to local, state, and the federal government. Equally important, it will reduce the need to spend money on supporting the unemployed, further decreasing the deficits at all levels. New hires also begin spending more money, further stimulating the economy and creating the confidence that business needs to borrow or invest savings in new production and service activity.

Financial illiteracy by the average citizen is often cited as one of the contributing causes of the credit card and sub-prime mortgage debt economic bubbles that helped create our record recession that appears to be ending now. Of course some might say that some members of Congress are in need of a refresher course in financial literacy when it comes to creating laws that regulate our economy.

How can such an important determiner of success as financial and economic literacy, both for individuals and for legislators, be so neglected in our education system? The good news is that the crisis has provided education, business, and government leaders with a new imperative for 21st-century education at K-12 and in colleges. Financial and economic literacy will become fundamental to success for all citizens in this decade and the ones to follow.

Students should write a report of at least 100 words, or a presentation of at least five slides, that cites at least three resources. Students should address the following essential questions for critical thinking) or you can substitute others):

• How can learning about budgets, credit, saving, and investment help you now?
  
  
• Why do so many adults lack the financial knowledge to help them be more successful?
  
  
• How can schools help students learn financial literacy along with other knowledge?
  
  
• What type of financial knowledge would be most useful to you now and why?

Choose Keyword search option > Type "Personal Finance for Students"

ProQuest models for written or PowerPoint reports written and PowerPoint-style reports.