Those who create and operate successful businesses understand the importance of budgeting and being fiscally responsible. But what do we do to prepare our future CEOs and entrepreneurs for the financial challenges they will face?
Yesterday, I received a press release from our friends over at the New Hampshire Banking Department regarding a great new personal finance exercise geared at high school students. Check this out:
NEW HAMPSHIRE BANKING DEPARTMENT ANNOUNCES THE RELEASE OF A PERSONAL FINANCE EXERCISE
Banking Commissioner Peter C. Hildreth today announced the release of a new personal finance exercise designed for high school students. The Road Ahead exercise was developed to raise student awareness about the costs of owning a car. The exercise discusses several elements of personal finance but is not intended to take the place of a full semester course. The Road Ahead exercise was designed by the Banking Department and Robert Nadeau, economics teacher at Hopkinton High School.
“Financial literacy is essential for economic success and security. Our goal was to give teachers and parents a short exercise to begin financial education. By using a topic of great interest to teenagers – owning a car – The Road Ahead certainly accomplishes that goal,” stated Commissioner Hildreth.
The exercise was initially designed to fit into one class period but could be stretched over two or three periods. It can also be used independently by parents who want to discuss the financial side of car ownership and operations. In either case, it serves as a springboard to other types of financial education.
“I have used the program in my classes and I found that it was easy for some students and an eye opener for others,” commented Robert Nadeau, “It’s a good tool to start some broader discussions about opportunity costs and other concepts.”
The exercise will be taught during a breakout session at the upcoming Jumpstart Financial Fitness Fair on February 6, 2010 at Southern NH University. Information about the conference can be found at www.nhjumpstart.org.
The Road Ahead Exercise is free and available for download by teachers and parents at http://www.nh.gov/banking/education.html.