I spent sixteen years of my life in school learning, eventually molding my brain to be sufficiently competent to earn an honest living. The goal was to get out from under the comfort of mom and dad’s roof and start a life of my own. Would you believe that in all those 20,000 plus hours of classroom study, not to mention after school homework, only a handful of those hours dealt with how to be successful with my income?
The sales guy at Discover Card spent more time with me than that. Just an impressionable freshman in college, you can imagine the financial impact that had.
Does anyone else find that odd? That we allocate such a small amount of education to teaching our children how to thrive with money? Is it any wonder we find ourselves in such a state of financial despair?
In a town hall meeting with Representative Geiss (HB 4511) and Representative Sheltrown (HB 4410), I learned of their ongoing efforts to modify current high school graduation requirements. Sheltrown’s suggested overhaul would move financial literacy from “elective” status to the superior echelon of “requirement”. In doing so, financial literacy would finally become a standard class offered in most of the schools throughout the State.
JumpStart, diligent at bringing financial education to kids in Michigan, immersed in the legislative bills, met with government, legislators and their aides, and testified during a House Education Committee meeting.
We are seeing schools and students struggling under the MMC requirements. It appears many schools are limiting resources to the core graduation requirements over electives. One such tragedy is at Brighton Schools. Glenna Fritz may be teaching her last financial literacy class after years of empowering students as it appears they are shutting down the program.
Last week I went to Lansing to gather more information and visit Senators offices on the Education Committee. While making a case for financial literacy, I was told that they were hearing from many constituents on the subject. Every call, every letter, and every email you send to legislators and those making decisions on this help a great deal.
In despair, knowledge is the key to recovery. Our state has some of the highest unemployment, budget imbalances, and foreclosures all while the auto industry is cutting the umbilical cord of security. We need to remove the unknowns of managing life and money, and educate our students so that they can succeed in this economic reality they are graduating into.
I have not found anyone yet who disagrees. Let’s all keep working together to help make the vital subject of money become mainstream classroom study, improving lives for generations to come.
I welcome your comments and ideas on this post. Or, feel free to email me at James@jpstudinger.com.
James Studinger
Author of Wealth Is a Choice
Vice Chair of the Michigan JumpStart Coalition
Monday, October 12, 2009
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