As the new school year begins and students begin to file into dormitories and classrooms, high school students across Ohio begin to file into what may be their first and only class on personal finance. While the state of Ohio mandates that all students entering high school receive at least one half-credit of financial education in order to graduate, it is one of only seventeen states to do so. In five US states, there is no financial literacy requirement at all. This leaves the responsibility of financial education left to the parents. According to the National Center for Education Statistics:
“After taking into account students’ gender, race/ethnicity, immigration status, and socioeconomic status—as well as their school’s poverty and location—the results show that students who reported frequently discussing spending decisions with their parents scored 16 points higher on average than did students who reported infrequently discussing this topic. On the other hand, students who reported frequently discussing news related to economics or finance with their parents scored 18 points lower on average than did students who reported infrequently discussing this topic.”
For more information on how parental involvement in financial education boosts their children's test scores, read Money Matters: Exploring Young Adults Financial Literacy and Financial Discussions With Their Parents on the NCES website: https://nces.ed.gov/blogs/nces/post/money-matters-exploring-young-adults-financial-literacy-and-financial-discussions-with-their-parents
If you’re looking to boost your own personal finance skills, check out Cashcourse through the Kent State Library:
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