May 24, 2020
Study: More financial literacy instruction needed in Florida schools

Photo: iStock

Press Release

Study: More financial literacy instruction needed in Florida schools

PwC report: Bridging the Financial Literacy Gap in Florida: Empowering teachers to support the next generation

| 4/4/2016

April is the official National Financial Literacy Month, yet there is a lack of basic financial education in Florida’s schools, setting the stage for major problems for individuals, families, businesses and communities. On Monday, April 4th, PwC (PricewaterhouseCoopers) released results from a new study called, "Bridging the Financial Literacy Gap: Empowering teachers to support the next generation." The study shows a lack of financial education in the classrooms.

Here are some of the key findings for the state of Florida.

  1. Few K-12 teachers incorporate financial education into their classroom. Fewer than 10% of Florida teachers address personal finance in their lessons.
  2. Financial education should start earlier. 75% of Florida teachers believe it should start in elementary school.
  3. Teachers believe parents/guardians could do more. 66% of Florida teachers feel that it is at least somewhat unlikely that their students are receiving any financial education at home.
  4. Four primary barriers exist. Florida teachers cite lack of appropriate curriculum (81%), lack of qualified teachers (71%) and lack of take-home materials (70%) as key obstacles. Additionally, 66% cite that financial education still isn't seen as a critical skill for college readiness.
  5. Teachers want more support. Florida teachers’ top request for support in teaching financial education was professional development (69%), followed closely by curriculum materials, release time, and funds to attend related professional development.
  6. Teachers don’t feel qualified. Only 33% of Florida teachers feel "completely comfortable;" 49% feel "moderately comfortable" and 18% feel "not comfortable at all.”
  7. Teachers seek resources on their own. Florida teachers are frequently not provided with materials they need so they find them in other sources, such as free online sites (71%) or from other teachers (38%).
  8. Educators cite tremendous benefits to providing financial education to young people. Florida teachers cite money management as the top benefit of financial literacy, followed by planning for the future, understanding debt and decision making.

Other resources:

Tags: Education

Digital Access

Add digital to your current subscription, purchase a single digital issue, or start a new subscription to Florida Trend.

An overview of the features and articles in this month's issue of Florida Trend.


Florida Business News

Florida Trend Video Pick

Fort Lauderdale gyms reopened briefly before ordered to close
Fort Lauderdale gyms reopened briefly before ordered to close

Fort Lauderdale gyms The Fitness District and CrossFit Increase open following strict guidelines on Wednesday, May 20, 2020. Mayor Dean Trantalis would order them to remain closed later that evening.

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Would you support voting by mail as an alternative to voting in person on Election Day if the coronavirus pandemic continues?

  • Yes absolutely!
  • No way!
  • Undecided

See Results

Florida Trend Media Company
490 1st Ave S
St Petersburg, FL 33701

© Copyright 2020 Trend Magazines Inc. All rights reserved.