In Honor of Labor Day - Stop Teaching Children to Be Laborers Says the NFEC

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The National Financial Educators Council promotes financial literacy training in addition to the skill development education that is currently taught.

The current system is producing a nation of life-long laborers instead of financially capable individuals that are moving toward a financially secure future.

Many that graduate college have spent over 16 years (about 15,000 hours) in school picking up skills that help them earn more money and no time (0 hours) learning lessons that help them to save and grow their money. According to the National Financial Educators Council (NFEC) this is producing a nation of life-long laborers instead of financially capable individuals that moving toward a financially secure future.

The problems of debt, retirement shortages, bankruptcies and paycheck-to-paycheck living often stem from a lack of personal financial knowledge. The NFEC suggest these issues are sweeping the nation like an illness that’s reached pandemic proportions because no proactive measures to teach money management lessons were taken during children’s formidable years.

“Our youth are not taught about money, form bad financial habits when they are younger, and those going to college are making large financial decisions even before they know how to balance their accounts. Providing an education that helps today’s youth acquire skills to earn more is essential; however, this needs to be balanced with a financial education to end the problems associate with financial illiteracy,” says Vince Shorb of the National Financial Educators Council and founder of the Financial EduNation Campaign.

If nothing is done to teach children about money, the National Financial Educators Council (NFEC) predicts that the problems associated with financial illiteracy will continue going up. Their proposed solution: comprehensive financial literacy training starting in pre-school that continues through college and beyond. The NFEC believes that exposure to a comprehensive financial education will help youth learn the money-handling skills they need to achieve their personal financial goals as they mature.

The NFEC’s mission is to create a world where people are financially capable to make sound, effective financial decisions that improve their lives and the lives of people they influence, all around the globe. The NFEC’s collaboration with top financial educators and professionals produces turnkey financial literacy products and services that minimize the time and investment needed to implement an effective financial education initiative.

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Cecile Abad
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