Spice up financial education for well-rounded money skills.

TLDR:

• Personal finance education in schools is important, but it should go beyond just personal finance.
• Students need to understand the social and environmental impact of their financial decisions.

Finance education in schools is a crucial aspect of preparing students for their future, but it must go beyond just personal finance. Steve Cochrane, the Executive Director of the Institute for Humane Education in Asheville, N.C., emphasizes the importance of teaching students to be conscious consumers. He highlights that every dollar spent is a vote, and students need to understand how their spending impacts others, including people, animals, and the environment.

Cochrane underlines the significance of students being aware of the “true price” of products they buy, from the sourcing of resources to production, distribution, and disposal. He mentions the importance of developing research and critical-thinking skills in students to help them make socially and environmentally conscious decisions as future consumers, founders, and employees of ethically mindful companies.

While half of U.S. states now require personal finance education, Cochrane argues that students need a deeper understanding of the social and environmental implications of their financial choices. By incorporating these elements into finance education, schools can better equip students to make informed and ethical decisions in the future.