Chicago School Teaches Financial Literacy Starting in the First Grade

I came across this Associated Press story on MSNBC about financial literacy at school. In Chicago, at Ariel Community Academy, students are taught about financial literacy as part of the curriculum — starting in first grade.

This is a great idea. How many graduate from high with no idea of how to manage money? I had a checking account when I turned 12, but most of friends didn’t. Their concept of money was that when they needed or wanted something, their parents gave them cash.

Unfortunately, our credit card culture only reinforces the idea that if you want something, it’s easy to pay for it. All you want is right there — in the credit card. Teaching financial literacy in school should be required. There are states where Intelligent Design is taught as fact, rather than relegating such religious beliefs to the home. But financial literacy, a vital life skill, still remains untaught in many of our nation’s schools.