Jordan Belfort, author of “Investing Wolves” about New York, argued for politicization, promoting financial literacy in schools, and the importance of college degrees.
A recent study by Intuit found that U.S. high school students want to learn about personal finance in school, but many do not have access to such courses in school and parents are reluctant to teach their children about personal finance. It turns out that there is a possibility that this is the case. financial literacy.
According to Intuit’s Financial Education Survey, 85% of U.S. high school students say they are interested in learning about financial topics in school, and 95% of students currently taking a financial curriculum find it helpful. I understand.
“Ultimately, what we learned was that 81% of students said they tried to have serious conversations with their parents about money topics, but parents typically don’t have those kinds of conversations for a variety of reasons. “They’re not necessarily comfortable having these conversations with their kids,” Dave Zasada said. , Inuit’s vice president of education and corporate responsibility, said in an interview with FOX Business.
“They themselves may not be financially savvy, and this would be consistent with national data on adult financial literacy,” Zasada said, noting that only a small percentage of adults can pass a basic financial literacy quiz. He pointed to data showing it to be 34%. “But we also found that 88% of parents felt the same way. financial education It should actually be taught in schools. ”
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An Intuit survey found that the overwhelming majority of students taking a financial education school found it helpful. (license/image)
“What we’ve learned from talking to kids, doing research, talking to parents is that if kids get their information from one source, that’s a trusted source. “You’ll want to get it while your kids are in school and ideally taking a personal finance course,” he added.
The financial terms students most misunderstood are: stocks and bonds (53%), 401(k), retirement (45%), taxes (28%). The top three things high school students want to know about managing their finances are how to become wealthy (43%), how to save money (40%), and how to avoid debt (37%).
“A very high percentage of students were interested in these specific topics, but they also just want to understand the basic terminology and want to be able to speak the language,” Zasada said. he said. “The vast majority of students do not speak the language by the time they pass the graduation stage and are prepared to make personal financial decisions that will have long-term consequences.”
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The financial terms students least understood were stocks, bonds, 401(k)s, retirement, and taxes. (license/image)
Although students may not have access to financial literacy education at school or at home, the survey found that around one in five students turn to financial literacy education. Social media. It found that only 19% of students turn to social media platforms for information about their personal finances, and 59% of those who do use them can’t tell the difference between accurate financial advice and bad or inaccurate advice. I answered that I was not necessarily sure.
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Students were most interested in learning how to become wealthy, save money, and avoid debt. (license/image)
Intuit offers free finance education platform It was released in September. According to Zasada, the course offers approximately 150 hours of content in two courses, one focused on personal finance and one focused on entrepreneurial finance. Masu.
“It’s customizable and very plug-and-play for teachers. If teachers want to use our content throughout their courses, they can. And if they want to dip into tax season a little bit and focus on taxes, they can use it. You just have to pull the information out,” he said.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| INTU | Intuit Inc. | 621.11 | -6.60 | -1.05% |
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“We’re not just focusing on making kids financially literate; we’re trying to help them become financially competent and confident. ,” Zasada said. “We start by helping them speak the language and understand terms and concepts.”
