An interesting news item: The Education Secretary has started encouraging the President’s Advisory Council on Financial Capability to consider recommending that financial literacy instruction be integrated into the K-12 curriculum. Rather than only a high school elective, Secretary Duncan has even suggested that this be a core subject that students may experience in the lower grades.
President Obama convened the council to help people understand financial matters and make responsible financial decisions. This was made evident during the “Great Recession” as far too many people appear to lack the essential financial planning skills to handle their money wisely and invest responsibly for their future.
In addition to the more traditional topics of budgeting, personal finances, credit and loans, Secretary Duncan noted that a financial literacy curriculum could include topics such as the stock market, investing, and retirement planning.
As Corbin (2011) notes, overall teacher preparedness for instruction in this area may be an issue. This highlights the need to instructioanlly support all teachers with the curricular and instructional demands that they face in the classroom.
Corbin, K. (2011, Nov. 8). Education secretary appeals for financial literacy, planning instruction in schools. Accessed November 9, 2011 through onwallstreet.com.