We have had quite a few conversations about America’s youth and the decisions they make in early adulthood. Specifically, financial decisions.
One of the biggest financial decisions a person can make surrounds education, and more importantly, they need to know how that decision will impact them. Due to some recent legislation in Wisconsin, our students will be slightly more informed than previous generations, and that’s a very good thing.
I spoke to one of Erin the Intern’s former teachers who was involved in getting this bill across the finish line. What follows are her thoughts on the matter:
As someone from the generation of “kids who just want handouts”, I am fully aware that many members of our newer generations do not have the financial literacy necessary to succeed in the world post high school. Coming from a working-class background, I grew up seeing the adults in my life work very hard for their income.
My family did their very best to prepare my brother and I for the real world by discussing the costs things from groceries to extracurricular activities, and this helped me understand the value of a dollar from a young age. Despite all that I had been taught, I was encouraged to take a personal finance class my senior year of high school; my mom wanted to make sure that I had a good grasp of the important financial aspects of life such as credit cards and interest rates.
I say all of this to say, regarding financial literacy, I was set up to succeed. However, this is not everybody’s story. Many kids do not come from a family that teaches them how to manage their money let alone discusses finances at all. Many young adults graduate high school with limited financial literacy knowledge, and I think that is a shame. Every student should get some exposure to financial education at school; that allows for everyone to start on an even playing field.
This is why I wanted to bring on my (favorite) teacher from De Pere High School, Kerri Herrild, to talk to us about her experience on a team of educators to get a bill passed that requires every Wisconsin high schooler to take a personal finance course before they can graduate.
Kerri emphasized that while this process has been several years long, it is merely a stepping stone on the path toward financial intelligence for the youngest Americans.
”No, it won’t solve generational poverty, it won’t totally change every single decision that every kid makes, but man I’ll tell you what, it’s going to give them some background and make them think twice… just like teaching smoking is bad”
While I acknowledge this is not a “one size fits all” simple solution, the necessary changes are taking place that will set up future generations, and make sure they do not recreate the mistakes older generations have made.
And I couldn’t agree more! This is a fantastic step for the future of our state, and only time will tell what kind of dividends this ends up paying.
To listen to the entire conversation, click the player and listen 14 minutes in
[Spreaker: Outside the Box]
