ALPENA, Mich. — Michigan has room for improvement when it comes to teaching kids about personal finances. The state earned only an average grade on the latest report card issued by the American Public Education Foundation. The nonprofit works to promote financial literacy education in classrooms across the country.
“Even if schools take the initiative to put a personal finance class in their curriculum, it’s still not going to be enough,” said Gregg Murset, CEO of BusyKid. “I believe kids learn best by actually doing things with their money like making small investments and putting money on their own card and spending like the rest of us,” he said.
The Financial Literacy Report Card grades each state and the District of Columbia in terms of K-12 financial education. The grades are based on current statewide curriculum for personal finance.