In the service of a broader discussion as to what works when it comes to teaching kids about money, I often tweet the published views of those who I believe know a thing or two about the subject. Not long ago, I tweeted a post by a fellow blogger here at Time.com, J.D. Roth, who also founded the Get Rich Slowly website and now blogs about More Than Money at jdroth.com. It seems that Roth riled some teachers in the field with his headline: Why Financial Literacy Fails.
The teachers take issue with Roth’s assertion that “a constant push for more financial education is a waste of time if it’s only going to focus on mechanics.” I agree with the teachers. Mechanics are important. Facts and figures matter. Understanding the long-term miracle of compound growth is a key step toward convincing young people to put it to use.
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