Blog, Financial Tips, Kids and Money, Life Transition, Personal Finance
April 13, 2018

Needed: Financial Literacy in Massachusetts

A Proposal to Infuse Financial Life Skills into Public School By Freedman Financial

It is my belief that infusing real life skills into a Public School’s curriculum is essential for preparing our children for the “real world”. Over the years, I’ve had periodic opportunities to “guest speak” at many schools and talk to the students about making smart financial decisions in real life. No, I’m not talking about how to buy investments or take out a mortgage. Instead it’s about how to live within their means, use credit wisely, and understand basic banking skills.

According to Champlain College’s Center for Financial Literacy, the State of Massachusetts gets a grade of “F” when it comes to financial literacy. This is completely unacceptable. We live in a state that boasts some of the most desirable colleges, best quality hospitals and is a power hub for some of the smartest scientists, engineers & business people. It is disheartening that our legislators have continued to turn their backs on the children of the Commonwealth by declining to mandate financial literacy in our schools.

Finally, it looks like the tide may be changing.

Recently, Bill S 2374 “An Act Relative to Financial Literacy in Schools was approved by the Committee on Education in January, and the full Senate, by a 37-0 vote on March 22nd. The bill now sits before the Massachusetts House Committee on Ways & Means. I’m hopeful that the House will approve the bill without delay.

Recently I hosted Mary Anne Clancy, VP Communications at The Institution for Savings and David Floreen former American Bank Association Representative & current financial life skills advocate, as guests on my radio show who have working hard on The Hill to get this legislation crafted.

Please join me in getting the word out on the importance of infusing financial life skills into the daily curriculum. The attached document explains the bill even further and shares ways that you can add your voice. Take a look.

We’re getting real close to better preparing our kids for the “real world.”

Tracking #1-718268

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