State leaders pushing to teach all students how to budget money, balance a checkbook in high school

Education

HARTFORD, Conn. (WTNH) — A business academy in New Haven is ahead of the curve.

Students are learning to use a calculator, write out a bank check, and balance a budget.

The Jumpstart Program, which teams up schools and professional financial advisors, is exactly the kind of class State Senator Doug McCrory wants children enrolled in.

He admittedly learned a little too late about financial literacy when he got a credit card after college, “after three weeks my credit limit was done.”

Senator McCrory also taught middle school math in Hartford for 15 years. He knows some students are not savvy about money.

As chair of the education committee, he wants to push for a pilot program on financial literacy in this next legislative session.

Senator McCrory said a study done by Champlain College Center for Financial Literacy shows “that for those students who have a financial literacy course, their credit scores are much better, financially they are doing much better. It’s time for Connecticut to start getting 21st-century skill sets in our schools.”

Some districts around the state offer financial literacy courses but not all of them do. The senator said alliance districts and those in urban areas don’t have the resources to offer the opportunity.

In Wethersfield, there is a personal finance course offered at the high school as an elective. The Superintendent of Schools, Michael Emmett told News 8 the course is popular with both students and parents.

“We see the course as offering real-word, practical content that students will benefit from regardless of their post-secondary plans.”

McCrory said only 17 states around the country currently require a personal finance course to graduate high school.

He won’t push for a graduation requirement, instead, he believes lawmakers will agree this can be legislated as a mandated course, offering it in middle schools at first.

“Introducing it into the curriculum at an early age so that by the time they get to high school they will be ready for it,” he said. “They will know what credit is, they will know what interest rate is.”

McCrory believes the investment in our kids will pay off in the long run.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

New Haven

Police investigate shots fired outside East Haven home, no one hurt

News /

Free COVID-19 testing on New Haven green today

News /

New Haven police investigating shooting in apartment on Donna Drive

News /

Waterbury still cleaning up damage to their parks a week after Tropical Storm Isaias

News /

Research center in Milford set to participate in Pfizer clinical, human trial of COVID-19 vaccine

News /

Elderly woman injured after crashing car into East Haven building

News /
More New Haven

Hartford

Bristol Health employees come together for ‘White Coats for Black Lives’ to dismantle racism in medicine

News /

Manchester man accused of multiple car break-ins

News /

Man donates kidney to stranger after seeing billboard asking for help

News /

CT Congressional candidate facing domestic assault charges

News /

Thomas Gilmer arrives at court for arraignment

News /

Rocky Hill-Glastonbury Ferry resuming operation after recovery from Isaias

News /
More Hartford

Trending Stories

Don't Miss

More Don't Miss