Now that Barack Obama is the elected president he must quickly move on taking steps to restore financial order in our nation. Billions of dollars have been and will be infused into a system far too complicated for the average American to understand.
Most states and school districts have demonstrated little concern for what our children are learning about their money and how patterns for the use of money learned in their youth impact how they would spend money as adults.
The problems facing Americans started with greed and lack of government oversight, but they were fueled by the public's lack of financial literacy. Students graduate without basic knowledge and fall prey to the predatory practice of banks their first day at college or in their first few months of work.
It is time for school districts to adopt coherent practices regarding the teaching of personal finance. Teachers have very crowded schedules already filled with state requirements. We must help teachers integrate personal finance into existing subject areas supported by professional development that will ensure important life lessons reach our children.
Gerald Lauber
Syosset
Editor's note: The writer is chief finance adviser for the National Urban Alliance for Effective Education.
