Fourteen hundred billion dollars. That’s how much Americans owe in student loan debt (Federal Reserve). And yet we continue to fund our education with loans. Debt-free education is possible with merit-based aid. But debt can still arise in other aspects of life with credit card debt, car payments, and mortgages. It’s imperative for me and other prospective college students to understand how to use money wisely. My generation isn’t the only one that needs help--younger kids need to prepare for their financial futures, too. That’s why our country needs a widespread financial literacy campaign, combining in- and out-of-school support. First, financial literacy must begin early in life. Often, by adolescence, many of us have already formed poor money habits. Creative money lessons in elementary and middle schools will initiate smart money habits in young students. For instance, when I was in elementary school, our principal increased engagement by introducing “Bobcat Bucks”. Named after our school mascot, students earned these paper bills for extra classwork, kind conduct, and other positive acts. We spent our Bobcat Bucks on Bobcat Shop days, where we purchased items ranging from fountain pens and candy to …show more content…
While students are more likely to take economics before graduating (Council for Economic Education), these one-semester courses typically don’t offer detailed practice with everyday financial scenarios. My high school economics class only provided a glimpse into money management. However, this year I am actively practicing stewardship with the Dave Ramsey Personal Finance course. I carefully record my income and expenses in a handwritten financial tracker, identify and work to change my bad money habits, and set long- and short-term financial goals. All students need an interactive finance course like this to practice these mature skills and avoid future