School is still filled with teaching stuff that can never ever be of any use except maybe to a very very few. (I studied Physics and nothing that I learnt seems to be of use in daily life)

So its up to us parents to fill this gap.

I believe that the more programs we have like ours, getting kids involved in their community, creating habit building excercises and stimulating the conversations with their parents, is only part of the solution.

To truly make a difference, it will take time, and having our children and families take action with programs that go beyond just education.

I can read books about Italy, but I will have a much different experience if I travel there, experience the smells, sights and sounds first hand.

This is what our program is designed to do, get the kids off the couch and out in the field putting positive habits into practice.

We have a bunch of politicians that cannot even manage their PERSONAL finances in charge of trillions of dollars and they have taken this country into almost $10 trillion in total federal debt…now, they want more, and they want US to pay for it. We have no choice if we want to stay out of the slammer.

We should replace every single one of our politicians. But this country is made up of a bunch of people who don’t even know the name of the Vice President. They know who won American Idol. They know who was on Oprah last week. They know what song is on top of the charts, but they have no idea about anything that really means something … like economics or finance.

We’re in deep trouble long term, I’m afraid. The best thing we can do is teach our children by example. I’m pretty certain I don’t want some government bureaucrat or NEA member teaching my kids about money!

Another class that is missing is PAD – or Problems in American Democracy… Now that was an eye-opener about almost 40 years ago in High School – how we are to look for the bias in reporting and such… and how to spot lies, etc…as well as explaining the whole political system, and comparing it to other countries. It was a very good class.

I will agree that we do need more personal finance education taught in school.

While we do need to teach it, I do not think that teaching it ad-nauseum will make much change in people’s personal spending and borrowing habits. I can speak from experience here where at the high school I attended, so much money and time was poured into D.A.R.E. functions at school that it really detracted from more practical things that I could have been learning. At least once a month for 1.5 hours in the gym we had to do a DARE meeting thing. Total nonsense. Let’s spend that money somewhere a little more applicable and cut back on the self-serving “look at what a good job we’re doing” junk. Of course, to attend this function, I had to miss my computer skills class. Rather, in the period before the function, I was attending gym where I learned all about how to smoke weed, what a “bong” was and from whom I could “score” weed. Wow, D.A.R.E. was really working in my school.

Let’s not look at education as the answer. It is a very small part of the puzzle.

I’ll counter your argument, FrugalDad, with a hypothetical situation — I’ll assume that neither you or your wife smoke, but what would happen if your teenager or young adult child took up smoking? Who would be to blame there? The school (they aren’t taught to smoke in school and we’re not talking about peer pressure here — just education), mass media (no smoking adverts are allowed to be seen on TV, newspapers, or even certain magazines now), or maybe, just maybe, it could just be the kid’s own fault?

@DavidK: I agree with you that is boils down to personal responsibility, but I’m not trying to “pass the buck” by calling for improved financial education in schools. We teach kids crack cocaine is harmful, but some still elect to try it. Does that mean we should stop teaching kids that crack is bad for them?

Squeaky’s comments regarding the poor financial role models kids have to look up to is dead on. Unfortunately, some of those poor examples are also their parents. Perhaps the work of an inspiring teacher or mentor could help kids avoid some of the financial pitfalls waiting for them beyond school.

However I too think the bulk of the responsibility lies with parents to set good examples and boundaries in order for their children to learn every day the impact of spending and saving. And therein lies the dilemma – so many parents have no idea how to do this as they either never learnt themselves or simply aren’t interested.

With the world portrayed through the entertainment media as (for the most part) wealthy, beautiful and able to “have it now” it’s an uphill battle to get adults to put the plastic back in their pockets. let alone the kids. One way I’m battling this is to switch off the TV, however I fear I’m in the minority…