High school seniors financial literacy scores have gone from bad to worse as announced by the Jump$tart Coalition last week. High school seniors from across the United States took the Jump$tart Coalition survey and the mean score was 48%, a decrease from 52% in 2006. Rhode Island students received a mean score of 48% in 2008, a slight decrease from 49 percent in 2006. More Rhode Island students (29%) received a passing grade than the national average (26%). At the press conference, Fed Chairman Ben Bernanke said, Today, only eight states across the U.S. require personal finance before middle or high school graduation. I believe more states should consider making personal finance a requirement for all students who seek a high school diploma. Rather than be discouraged by this news, Jim Hedemark, Executive Director of
the Rhode Island Jump$tart Coalition and I talked about the great programs they have to help improve the personal financial literacy of Rhode Island's youth. Activities to occur in Rhode Island during Financial Literacy Month include:
- The Rhode Island State Champion LifeSmarts team from North Providence High School to compete in the national LifeSmarts competition in Minneapolis, MN on April 12 through 15.
- A meeting on April 15th, of the Special Legislative Commission to Study Youth Financial Education in Rhode Island Middle and High Schools
- The Rhode Island Jump$tart Coaltion annual Financial Literacy Leaders Luncheon to occur on April 22. This event is by invitation only due to space limitations. For further information, please inquire to Jim Hedemark at 401.385.9411.
- Late April through mid May, President Bush's Financial Literacy Advisory Council's endorsed high school financial literacy challenge that can be joined by high school teachers by visiting http://flc.treas.gov/
This Week's Real Estate Insight: How do you expect to buy a house if you can't even balance a checkbook? According to the National Endowment for Financial Education, as little as 10 hours of financial education can influence the practices and financial knowledge of young people.
