Survey results support NFEC’s drive to get financial literacy, entrepreneurship and career education subjects taught in schools
DALLAS, November 17, 2021 / PRNewswire / – In a recent survey, the National Financial Educators Council (NFEC) found broad support for its efforts to have FLEC subjects taught in US public schools. The acronym FLEC stands for Financial Literacy, Entrepreneurship, and Career Education – topics of practical value to 100% of young Americans in today’s volatile economic landscape.
The investigation was conducted between October 15 and October 30, 2021, by asking 1,101 Americans, “Do you think high school students should have access to financial literacy, entrepreneurship, and skills training?” Support for FLEC education was high – over 80% responded “Definitely yes” or “Yes”. The results are summarized below:
“Definitely yes” or “Yes” – 81.9%
“Maybe” – 8.5%
âDefinitely noâ or âNoâ – 9.6%
For the full survey results, see: https://www.financialeducatorscouncil.org/financial-literacy-entrepreneurship-career-education-survey/
Vince shorb, the CEO of NFEC, commented, âPublic schools spend a lot of time teaching STEM subjects today, which has benefits for the small number of students able to land jobs in STEM fields. FLEC education, on the other hand, gives benefits to 100% of the students. Isn’t it time we started teaching FLEC in schools? “
The success of our young people today depends on FLEC education, as it impacts both their ability to manage their money and their potential for future earnings. In the Financial Literacy Education As part of FLEC, young people learn skills and behavioral strategies that enable them to make informed financial decisions. Entrepreneurship and career education teach young people methods to identify creative sources of income, maximize income, and pursue the personal lifestyle they envision.
The Financial Sector Regulatory Authority (FINRA) has conducted research that demonstrates the effectiveness of compulsory personal finance education in high school. Georgia, Idaho, and Texas introduced such warrants in 2000. FINRA studies show that within three years of program implementation, students from these states had significantly higher credit scores than those from neighboring states without such warrants. This research and other studies indicate a clear need to teach financial education in schools.
The National Council of Financial Educators, a recognized thought leader in financial literacy, partners with others in the financial education industry to conduct research on people’s personal financial behaviors, attitudes and skills. The NFEC sponsors studies, surveys and focus group discussions to inform best practices in the area of ââfinancial literacy.
SOURCE National Council of Financial Educators