Unless you were taught how to manage your finances by your parents, there is a good chance that you may never have received a financial education. Even the basics of budgeting can be a game changing skill for the average person, but these skills are seldom taught in school. According to the 2015 National Financial Capability Study conducted by FINRA, “59% of Americans have never been offered a financial education course and only 44% were taught how to manage their finances by their parents.” This leaves the majority of the American population overwhelmed by the prospect of managing their money.

As of 2014 only 17 states in the US required that high school students take a course in personal finance, and Pennsylvania was not one of them (Council for Economic Education). Without any financial education provided, individuals are left to fend for themselves with often disastrous consequences. Payday lending and other check cashing services are causing a dangerous spiral that can become hard to curtail, and debt is on the rise. Without this fundamental element of education, we are setting our friends, neighbors, and children up for failure. It’s time for financial education to become a priority in our communities. Everyone wins when we work together to provide this necessary life skill.