N.J. considers finance 101 for students

    By: Phil Gregory

    Recent surveys show that fewer Americans in their late twenties and early thirties have interest-bearing savings accounts than in decades past. And the average college freshman’s credit card balance is almost doubling by the time she graduates college.

    By: Phil Gregory

    Recent surveys show that fewer Americans in their late twenties and early thirties have interest-bearing savings accounts than in decades past. And the average college freshman’s credit card balance is almost doubling by the time she graduates college.

    Those are some of the reasons New Jersey legislators, including a Camden County Democrat, are trying to introduce personal finances into some high schools’ curriculum.

    A pilot program in six public school districts around New Jersey would  be established under the measure released by the Senate Budget Committee and already approved by the Assembly. One of the sponsors of the financial literacy plan is Assemblywoman Pam Lampitt.

    Lampitt: “Kids might be book smart but common sense still continues to elude them and so much of financial and budgetary oversight is a lot of common sense. And sometimes if we just take the time and explain it to them they will get it”

    In these times of heavy personal debt for many people, Lampitt says teaching kids how to balance a checkbook and create a budget to pay bills will help them prepare for the future.

    Want a digest of WHYY’s programs, events & stories? Sign up for our weekly newsletter.

    It will take 126,000 members this year for great news and programs to thrive. Help us get to 100% of the goal.