Tennessee Becomes Third State to Mandate Personal Finance Education for Public Students
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Washington, D.C. (PRWEB) August 26, 2009 -- Starting in September, Tennessee will become the third state to require every student in the public school system to learn about personal finance before receiving a diploma. Although 21 states already teach personal finance in some form (often as part of a math or economics course), only Missouri and Utah had made it a pre-requisite for graduation. Other states are now looking into adding personal finance classes to their standard curriculum and/or graduation requirements.
"Whether personal finance is required as a stand-alone course or as part of a broader focus in other subject areas, the current economic crisis -- caused in part by consumers' lack of understanding of debt and credit risks -- has spurred many to reconsider whether schools are adequately preparing students for the financial complexities of adulthood," said Rob Wyse, a spokesperson for CreditFYI, a leading consumer advocacy website on consumer credit and fraud
The personal finance classes in Tennessee, which leads the country in the percentage of state residents who file for bankruptcy, will focus on money management, saving and investing, spending, credit and more. Personal finance courses for high school students in other states cover everything from credit scores and bankruptcies to applying for a loan and balancing a checkbook, according to CreditFYI.
It's said that those who don't learn from history are condemned to repeat it. While the current economy has exposed a painful truth about the financial prowess of today's consumers, greater attention to personal finance skills in the public school system could help future generations avoid a repeat of today's economic errors, CreditFYI notes.
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Do you ever wonder where your money goes every month? Does it sometimes seem as though you cannot afford to do things because your financial obligations are holding you back? If you find that you are asking yourself these sorts of questions, perhaps you should take a look at your financial situation and assess whether you are practicing good personal finance management or not. Good personal finance management spends within their income, plan for the future and solve financial problems as they arise. Poor personal finance management pay more, do without and fall behind. If you find yourself in the second category, you can do something about it. You can learn to take charge of your finances by planning your personal finances.
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AskMrCreditCard.com Publishes Results of Credit Card Survey of Personal Finance Bloggers
AskMrCreditCard.com has just published a credit card survey that was taken among personal finance bloggers. The survey showed that 70% of personal finance bloggers had a credit score of 700 and above and also highlighted that 76% had no credit card debt. The survey also gives an insight into the average number of credit cards personal finance bloggers carry, their favourite cards, issuers and their credit card practices.
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There are a number of different reasons as to why a person should learn about personal finance, but it is perhaps understandable that most people can not see these reasons for themselves Personal finance is a difficult topic to learn about and for that reason a person just naturally tends to shy away from it, making excuses in an attempt to avoid having to learn about it
