Monday, August 25, 2008

Financial Training

A friend tipped me off about the Delaware Financial Literacy Institute and it's related programs like the Delaware Money School and Purses to Portfolios.

Financial training is one of those things people need, but rarely get. One of the big reasons the working poor stay poor is that they don't know how to spend and save their money. They also have few role models to show what wise financial stewardship looks like. Honestly, I think Home Economics would be far more useful if it taught people more about bank accounts and less about sewing or cooking.

Jack Markell, our State Treasurer and current Democratic gubernatorial candidate, founded these programs. I don't know that I love his party platform, but making free financial training was and is a great idea.

UPDATE: My coworker pointed out that financial training has a big problem. A lot of the people who need the training aren't fiscally responsible enough to realize it. I'm sure that's true. I'm also sure that there are a lot of people who want to be fiscally responsible, but just don't have the math skills to understand what that means in a practical sense.

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