Financial Literacy: Should it be included in high school curriculum?

Abstract

In this paper, there will be a discussion as to why financial literacy classes should be included in high school curriculum. There is a significant issue between lacking financial knowledge and being able to perform financially smart. Throughout this paper, there will be examples of the basic knowledge that adults struggle to understand and how this results in several consequences. These consequences are in several categories such as debt, poor credit scores, a financial generation gap, and the loss of opportunities. There is also a discrepancy with financial illiteracy and different identities such as race, socioeconomic class, and even age. Some other issues that can have a greater effect with financial literacy are the generation gap, student loan debt, and the economic issues that financial illiteracy brings. Lastly, there are several ways that financial literacy can work with the results that a financial literacy program should have. With these programs, there are many strategies that schools can adopt or adapt to facilitate this type of program. Overall, the lack of financial literacy skills is negatively affecting young adults and their transition into adulthood that will result in not being financially healthy and stable.