Consumer Payment Card News

Financial Literacy

The overwhelming majority of American parents rate money management skills as “very important” for the children in comparison to other school classes. According to a national survey released this week by VISA U.S.A., 92% of parents across the U.S. believe students should be required to take a class in practical money skills. The survey also found that when adults were asked to rate which skills were most important to their student’s future, 82% rated practical money skills “very important,” compared to 58% for history and 52% for algebra. Of the adults surveyed, 64% said they learned their money management skills in the “school of hard knocks,” and believe an increased focus on teaching financial skills in the classroom will keep today’s youth from making the same mistakes. The VISA survey was released in conjunction with “Financial Literacy for Youth Month”, which gets underway this month. The annual event is sponsored by the Jump$tart Coalition for Personal Financial Literacy. VISA also offers the “Practical Money Skills For Life” program through a special Web site. The special VISA program now reaches more than 100,000 schools and 37 million students via 2.5 million teachers. For more information visit: http://www.PracticalMoneySkills.com.

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