Financial Literacy

Thoughts on a Free Market Economy….

 

“Financial Literacy”

By Phyllis Hunsinger

May 23, 2015

 

In December, 2009, the Colorado State Board of Education adopted revised content standards that included integration of Personal Financial Literacy standards within both the economics and mathematics content areas.  The Colorado State Board of Education stated their goal is to help students achieve a level of financial literacy and to help them become financially capable consumers.

 

Financial literacy is the ability to understand how money works in the world and includes the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources.   Students need the opportunity to practice applying the knowledge to real life situations.

 

The Freedom and Responsibility Education Enterprise (a.k.a. The FREE Foundation) provides opportunities for students to learn more about America’s free enterprise system, financial literacy, and economics so they can be better prepared leaders, employees, and citizens.  The FREE Foundation also trains educators on these concepts so they can more effectively include them in classroom activities.

 

During the fall of 2014, the FREE Foundation board members taught an economics class for middle school students at Caprock Academy in Grand Junction, CO.  The class will be taught again in the fall of 2015.  The FREE Foundation also sponsors juniors and seniors to attend the Economics for Leaders camp in Boulder, CO each June. The FREE Foundation will be hosting a Fall High School Financial Leadership Conference at the Montrose Pavilion in early November, 2015.  More details will be on the FREE website this summer.

 

Teaching free market concepts and financial literacy is critical in the preparation of young adults for the financial opportunities and challenges they will face.  With a solid foundation in economics and financial literacy, these young adults will be able to make informed and effective decisions as leaders, employees, and citizens.

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