A large part of the American youth possesses a very limited knowledge about money. To bridge this existing knowledge gap, West Virginia University is spearheading an educational movement.
An upcoming training seminar for West Virginia teachers hopes to pass down to teens helpful lessons about finances and how to be smart with money.
West Virginia University's College of Business and Economics, the West Virginia Auditor's Office and the West Virginia Jump$tart Coalition will host a conference, Finance University from July 23-27 in Charleston. The conference aims to educate high-school teachers about good personal finance practices so they can then pass those on to their students.
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Organizers say that in the current scenario, these tutorials are essential, considering only 17 percent of US teens claim to know a lot about managing money, and 24 percent say don't know the difference between debit and credit.
Participants will be offered two tracks: a basic track for first timers and an advanced course for repeat attendees, according to a news release from WVU. William Riley, chairman of finance at WVU College of Business and Economics, will teach the course, which prepares educators to teach their students a variety of personal finance topics, such as credit card use, saving and investing, insurance, retirement plans and more.
In addition to finance education, attendees will be given a tour of the State Capitol, the West Virginia Cultural Center, Governor's Mansion and the House Chamber. Participants will receive certification upon seminar completion.
Year 2012 marks the 10th year for Finance University which was developed by the West Virginia State Auditor's Office and partners of the West Virginia Jump$tart Coalition in 2003.
After attending the seminar, even if a small number of young people become a little more cautious about how they spend money, one can certainly say that the seminar's goal has been achieved.