The Need for Financial Literacy

Financial literacy has become a growing need in the United States. As we fall under the PISA international average in financial literacy scores, the importance of programs like MoneyIsland has never been greater. 1

Encouragingly, 80% of teachers say it is important to teach money management skills in U.S. classrooms 2. But fewer than 20% report feeling competent enough to teach personal finance. 3 Teachers also cite the lack of time, state curriculum requirements, and demand as the top three challenges of teaching financial literacy. Lack of materials and professional development are also often cited as obstacles. 4

That's where MoneyIsland comes in!

1. OECD (2014). PISA 2012 Results:Students and Money: Financial Literacy Skills for the 21st Century (Vol VI)

2. Jumpstart Financial Literacy Surveys, 2008

3. NEFE, Teachers' Background and Capacity to Teach Personal Finance, 2009

4. Networks Financial Institute (Indiana State University)