New York, USA – Jordan Belfort, author of “The Wolf of Investing,” recently discussed the alleged politicization of financial education in New York schools. The push for greater financial literacy among high school students is evident, as a survey conducted by Intuit revealed a strong interest in learning about personal finance among U.S. high school students. However, access to such courses remains limited, as many parents may feel reluctant to teach their children about financial matters.
According to Intuit’s Financial Education survey, 85% of high school students in the U.S. expressed an interest in learning about financial topics at school, with 95% of those currently receiving financial education finding it helpful. Despite this interest, a significant gap exists in financial literacy rates among adults, with only 34% able to pass a basic financial literacy quiz. Interestingly, 88% of parents believe that financial education should be taught in schools, further highlighting the need for improved financial literacy programs.
One of the key findings of the survey was that students who received financial education in school overwhelmingly found it useful. However, misconceptions around financial terms persist, with stocks and bonds, 401(k) and retirement, and taxes being among the least understood concepts. High school students expressed a strong desire to learn how to become wealthy, save money, and avoid debt, emphasizing the importance of practical financial education.
While access to financial literacy education may be limited in schools and at home, some students are turning to social media for information. However, the survey found that only 19% of students seek personal finance advice on social media platforms, with many unsure about the accuracy of the information they receive. To address these challenges, Intuit has launched a free financial education platform offering 150 hours of content on personal finance and entrepreneurial finance.
By providing customizable and easily accessible financial education resources, Intuit aims to help students become not just financially literate but also capable and confident in managing their finances. The initiative seeks to empower young individuals to speak the language of finance and make informed decisions about their financial future. In a world where financial education is increasingly essential, initiatives like Intuit’s platform play a crucial role in bridging the gap and equipping the next generation with vital financial skills.