Money matters - but real world application is key

I recently read an article in the Denver Post entitled “Money matters for youths” by Aldo Svaldi.  In it, Svaldi talks about Vantage Point High School, a local high school that has embraced personal finance education, and is actually incorporating a personal finance course as a required class for graduation. The article continued on to discuss the importance of teaching young people how to manage their finances, and posited that the classroom is the best place for students to learn this information, as parents sometimes aren’t prepared to teach their children money management skills, and we all know what can happen when kids learn about money through the “School of Hard Knocks.”

I’d like to say “Kudos to Vantage Point High School!” for incorporating a personal finance course into their graduation requirements. Studies show that high school students are woefully in need of some ‘financial fitness.’ The average score of high school students on a basic financial literacy survey conducted last year was just 52.4% - a failing grade on any scale.

But, there is another piece to this puzzle. Students need to see the real-world application of this information. For example, students who participate in Junior Achievement programs learn the principles of personal financial management from business community volunteers who serve as role models and mentors throughout the learning process. Something magical happens when business volunteers come into the classroom and speak to students from their own personal experiences - it becomes real. Students see first-hand the value of an education, the importance of being financially literate, the link between learning and earning, and the possibilities that lie ahead.

Another perk: studies show that real-world learning can also keep kids from dropping out of school. It’s this kind of partnership between business and education that can have a powerful impact on a child’s life, as well as a lasting effect on our community’s economic strength.

Jeff Potter
CEO, Exclusive Resorts
Chairman of the Board, Junior Achievement