According to a 2013 report by the Financial Industry Regulatory Authority (FINRA), "Mississippi stood out as the least financially capable state, placing in the bottom five in four out of five measures."
"I think that's unacceptable," said Mississippi Treasurer Lynn Fitch, who toured the state last week touting a program she established titled TEAM, the Treasurer's Education About Money initiative, a statewide public, private and non-profit partnership to teach high school students in grades 9-12 how to manage their finances before they graduate.
"Our students are our workforce and leaders of tomorrow," Fitch told a group of business leaders at a Tuesday meeting at Citizens National Bank earlier this week. "If we teach them how to manage their own money, they will be better able to manage the finances of the businesses they lead."
With funds raised from the private sector, Fitch is proposing to provide high schools with computer based programs that teach students personal finance concepts, such as keeping a checkbook, managing credit card debt and saving for emergencies.