More interesting reading
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Yesterday the Detroit Free Press published a column called “Super fun, frugal lessons” by Rochelle Riley. The article is mostly about how a couple of NFL football players worked did a financial seminar for high-school students:
San Diego Chargers star and Central High School graduate Antonio Gates skipped hosting a Super Bowl party, and instead invited 34 city high school students to talk about something he himself learned the hard way: managing money.
I think this is great, and hopefully we’ll see more role models in the area of money management. The column also made some useful observations about financial literacy in America:
Shirley Stancato, president and CEO of New Detroit Inc., said that financial literacy “is the most important thing” in the battle for equal civil rights in America.
“Literacy and financial literacy are vital. If you’re not financially literate, you cannot have the kind of life this country says you can have.”
I find that “most important thing” statement very interesting. It makes sense, but I’ve never heard anyone come out and say it before. Usually the focus is on affirmative action, or other forms of symptom-management, but I think it it far more realistic to talk about financial literacy as well as a good general education.
Do you agree with Ms. Stancato’s assessment?
I think that teaching a basic money management course in high school should be required for all students, since they are completely unprepared for going out on their own unless given money lessons from their parents. Which is why I am writing a book on the subject that will hopefully be published later this year.