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Thursday, May 4, 2006 12:37 AM CDT<= span style=3D'mso-spacerun:yes'> 

Basics in finance are needed in high school

Pantagraph Editorial=

How to balance a checkbook and manage money should be included in curriculum in= all high schools.

So, it's sad to hear area bankers say many young people still aren't learni= ng such basics, which is causing some of the students financial problems early in life.

The comments came at a recent session on factors that cause poverty. The se= ries was sponsored by Mid Central Community Action and the Applied Community and Economic Development Student Association at Illinois State University.

Teaching basic money management should be a parental responsibility, but the bankers' comments suggest that isn't working - perhaps because many of the parents never received an education in money management. So, the most logic= al place to look is to high schools where math and some economics are already required.

And the financial executives who are vocal about the weaknesses can become = part of the solution.

School administrators need to ask themselves if their curriculum is covering the basic needs of virtually every graduate.

Will offering trigonometry and calculus benefit more students than learning= a simple thing such as balancing a checkbook? It's a matter of priorities - a= nd time, which seems to be in short supply for all the education needs at high schools these days.

If schools agree more needs to be done on financial education, the business community should be ready to help.

If balancing a checkbook is a problem, bankers should be eager to work with schools. It will eventually be to their advantage. Maybe a daily course isn= 't needed, just some short sessions throughout the year.

The financial education doesn't have to be limited to balancing a checkbook. It's important for young people to understand the deductions on paychecks, = such as state and federal taxes and Social Security,<= br>
More emphasis should be placed on understanding the different types of taxes and their short- and long-term effects on our economy.

A better understanding could lead to more involvement to help solve some of= the financial concerns our city, state and national governments face today.