Remember that international exam last month that embarrassed a lot of Americans? The scores, you might recall, ranked U.S. children firmly below average in math and finally, after years, average at science. The test is called the Program for International Student Assessment exam, or PISA. And as it so happens, next year’s version of the PISA will feature a new section on financial literacy. But why financial literacy? And how well (or not well) will American kids do this next time around?
What do you think? Should kids be required to learn financial literacy? Why or why not? At what age do kids need to learn financial literacy?
Beth Kobliner, Takeaway contributor and appointee to the President's Advisory Council on Financial Capability, has been researching the new exam. She shares her knowledge about why it’s been expanded, and her predictions about how well American kids will fare.
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The show is a co-production of WNYC Radio and Public Radio International, in collaboration with New York Times Radio and WGBH Boston.
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Comments [2]
My IQ is 190.
This initiative to educate young people about handling money is worthy of praise. Another perhaps as important facet of personal economy is why people spend money as well- to fill a void in one's life, to make one feel loved, powerful, secure, as a means of creating an identity, etc. The rampant materialism is so powerful in the US that we tend not to see it as major reason people get into financial trouble. Until they get in touch with the psychology of spending they will continue to spend for the wrong reasons.
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