I teach high school. Although I am a science teacher, I assigned a personal finance project to my students. I was horrified to find out they didn't know what loan terms were or in some cases what interest rates were...
Many objected to paying taxes, which I set at 30% for state, federal and Social Security combined. They didn't understand that there were some bills they HAD to pay each month, and a few didn't understand why they couldn't get everything they wanted and just spend as much as they wanted each month, even if it was more money than they made.
My question: How do we teach kids these things -- these kids are not learning at home -- and in conversation, some of their parents may need the training, too. Are there (free- since K-12 schools have no money) programs to teach kids? I'm sure a program designed by a professional finance person would be better than the one I designed. Can you share you ideas what the kids need to know?