Teens Everywhere Are Making Little To No Progress With Financial Literacy

Educators in schools across the U.S. are making little to no progress with financial literacy, according to a recent report by the Council for Economic Education

Every two years the organisation takes a look at economics and personal finance education across all 50 states.

Though nearly half the states (22) offered economics courses in 2011, only 14 states required a course in personal finance–down one state since 2009.

School systems blame a shortage of qualified teachers—less than 20 per cent say they feel competent enough to teach personal finance— and funding need for textbooks as challenges to incorporating financial literacy in curriculums.  

What’s worse, kids are not learning financial literacy at home, either. 

One-third of parents avoid talking to their kids about money altogether and find it easier to talk about smoking, drugs and bullying instead.

See below for the chart in the “Survey of the States” report, which depicts the states most ahead of the financial literacy curve:

personal finance literacy

Photo: Council for Economic Education

Now read 4 reasons giving your kids an allowance always pays off >

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.