BACKGROUND: Research findings show that Georgia, Tennessee, Alabama, and Mississippi are among the highest-ranking states for numbers of annual personal bankruptcies filed per household. This information coincides with a survey conducted by Lewis Mandell, dean of business at Marquette University in Milwaukee, whose results show a connection between states that have adults declaring personal bankruptcies and twelfth graders scoring poorly on personal finance subjects. Personal finance subjects include budgeting, taxes, insurance, retirement, and use of credit—subjects that are important to master in becoming a financially successful individual.
PURPOSE: As part of the Federal Reserve Bank of Atlanta’s community relations program, a personal finance curriculum was developed and is being taught to middle-school students. This web page shares the course’s objectives and provides other resources on financial literacy.
