Starting early. WH Officials promote financial literacy among students.

[Clio the Leo]

Starting early
Officials promote financial literacy
By KENDRA MARR | 12/15/09 12:45 PM

Treasury Secretary Tim Geithner and Education Secretary Arne Duncan launched a program Tuesday encouraging financial education in schools across the country.

Schools, teachers, students and parents can register for the National Financial Capability Challenge online. Next year, teachers will receive a kit that will held them integrate finance into their curricula. And a spring exam will offer students an opportunity to win awards.

"The searing lessons of this crisis are already affecting the financial behavior of an entire generation, as Americans start to save more and borrow less," Secretary Geithner said in a statement. "We're moving forward with financial reform and strong protection for consumers, but we must also do a better job making sure our students graduate from high school with a better understanding of basic economics, basic finance and the benefits and risks associated with debt."

"The reality is that all children don't know the basics of saving and investing. It's a skill they need to be successful in our economy," said Secretary Duncan in a statement. "The initiative we're announcing today with the Department of Treasury is a step in the right direction."

We've come a LONG way since I was in High School and the credit card companies would give you vouchers to local retailers as long as you'd sign up for one of their cards. "All you have to do is ask your parents permission and get them to sign this form!"

[liberal N proud]

1. I remember when I was in grade school...

A local bank had a savings program with kids in 1 - 12.

They provided deposit books and envelopes and set up accounts for each child. Everyone was urged to bring in an envelope with what ever they wanted to put in savings for that week.

The bank picked up the envelopes, took them to the bank and returned the deposit books to the children.

Kids learned quickly how their accounts were growing.

I do not know of any program like that today.

[Kdillard]

2. excellent idea.