Mississippi Students Take On Financial Literacy in the ClassroomBy Lawayne Childrey | Published 09 Apr 2013 03:02pm |
The month of April has been deemed as National Financial Literacy Month. Schools across Mississippi are taking the opportunity to teach students how financial education can aid them in making better decisions when it comes to money.
One reason so many people fail with their finances is because they simply do not know how to handle their money. But that wont be the case for Melvin Davis a senior at Murrah High School in Jackson who plans to attend college to study engineering.
"You need to know about taxes, dorms, if you could get tax refunds, scholarships, what's the economic situation of the city that you're living in." says Davis. "You need to be financially literate to go in and make the right decisions."
The 17-year old was part of a group of more than 100 students from across the state who took part in an economics challenge in Jackson yesterday.
Ginger Tedder, an economics teacher at Starkville High School, says the economic challenge is one of many ways teachers are stressing the importance of using financial resources wisely.
"Saving is key that we talk about because getting into debt in college is one of the typical ways to cause problems for you in the future." says Tedder. "I think just making the decisions and understanding why the world works as it does is key to equipping them to be successful."
Basic fundamentals in money management such as budgeting, investing and saving can make a world of difference for Mississippi students.
Selena Swartzfager, President of the Mississippi Council on Economic Education says the more children are educated on money matters the more attractive the state becomes to businesses.
"It's important to teach these children how to manage their own money so that when they become an employee of someone else, they can also appropriately manage the funds of the organization and be wise stewards of that money," says Swartfager. "So if we have a group of people that are not literate when it comes to economics and personal finance, it affects the whole state."
Efforts to make financial literacy mandatory for Mississippi students to graduate failed in the Mississippi legislature this session.
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