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The Role Of Parents in Financial Education

 

 

The continued slowdown of the global economic recovery, has prompted political leaders in the UK and Australia to propose mandatory financial education for students. The Consumer Financial Protection Bureau (CFPB) in the US has made numerous recommendations regarding the advancement of fiscal literacy within independent states.

Citing the examples of irresposible lending and reckless investment and the impact of poor financial decision making on citizens and business owners alike, a skills gap had been identified in the current generation and the area of money management skills. In light of this there is a growng consensus among political leaders, that financial education should be a universal feature of the K-12 curriculum by the end of 2014.