Recently State Rep. Scott Newcomer wrote a guest opinion in another publication which was titled: "Wisconsin’s school systems should teach money management." Scott used April, which is recognized as Financial Literacy Awareness Month, as the springboard highlighting the need to raise financial understanding through the school systems.
Well written, his column acknowledges the need for (and lack of) parental advice in these matters. It goes on to state "less than half of college students polled said their parents made a conscientious effort to teach them.I find it inconceivable that such a vital topic is left out of the school system and placed solely in the hands of the public. As parents, many of us often times find ourselves puzzled by the task of assisting in our children’s math or science homework. Despite this truth, the majority of college students cite parents as their primary source of information on money management, yet less than a quarter of them feel prepared for the financial challenges awaiting them. This illustrates the fact that additional education from schools is needed in order to improve the quality of the information flowing in the public sphere." "...I feel that each individual school district, if it is not already doing so, should strive to implement financial education requirements."
Please stop there! Yes! - Yes! - NO!
YES - Rep. Newcomer is correct that there is a need for better understanding of financial matters for our youth. Issues grow more complex daily and the financial challenges and machinations facing this generation are significant. Simply - there is much to learn and little done about it.
YES - Rep. Newcomer is correct in calling attention to the frustrating stats which reflect that only a minority of college students feel prepared for the oncoming financial challenges. The grim realities are that parents do not have a "warm and fuzzy" when working with their own children in these areas. The best teaching tools would be a family's own finances, but many parents truly do not want their offspring delving too deep into their checkbook, investments, credit card obligations, etc.. No further explanation is needed for most parents...
NO! - Rep. Newcomer is absolutely incorrect in his thoughts that each school district should strive to implement financial requirements! While I totally agree on the need for basic training in finances, I challenge Rep. Newcomer on where the responsibility lies. Every news publication in this State has weekly articles, stories, letters to the editor, and more which bring into laser-like focus the core issue - The State Education System is broke! The current funding formula demands cuts and improvisations to school budgets across the State! Waukesha has been particularly hard-hit for many years, and there are no "Bright Tomorrows" on the horizon here.
The breakdown between Scott and myself occurs because... These Districts cannot currently fund the State mandates for education! The very last thing on the agenda for most districts these days is adding curriculum at additional costs. Heck - I favor many areas where I believe education in the early years will pay dividends for our youth for years to come: Renewed second language emphasis; expanded tech-ed offerings (the building trades are worried about the coming years); basic home computer maintenance; career planning; current world politics; and the list goes on...
The chasm in thought processes between us is succinctly demonstrative of the issues we as constituents and voters face with many of our State representatives. Unfunded State mandates to school districts are a major contributing factor to many school budget dilemmas. Now we have, in a very deft pen-stroke, a local State Rep doing more of the same. His identification of the need is good: His avoidance of taking a leadership position at the State level to get it fixed is sad. And finally, his "challenge" to the Districts to implement these courses is a classic "Red Herring" technique of misdirection...
Truly, we deserve (and desperately need) better from our local elected officials in Madison. Maybe early "Financial Literacy" classes would have helped them...
