By Carol Troxell
Cleveland Central Catholic High School is an urban school with 645 students. National media once dubbed the Cleveland, Ohio metro area as the epicenter of the foreclosure disaster. In a climate like this, our schools goal is providing students with the tools they need to be financially successful, and the knowledge to make sound financial decisions as adults to prevent generations of repetitive, costly financial mistakes. We feel that success can be achieved by fostering financial literacy in our students teen years.
Breaking the Cycle
Students sign up for our personal finance class because they realize a personal need to be prepared for their future. One of our current students has described how his family has major credit score problems and had a hard time purchasing a house. He recognizes the struggle that they experienced and hopes to make his life easier in the future. He recently told me that he accomplished his first financial goal of saving $150, observing, “It was very hard.” He set this goal at the beginning of the school year and became conscious of where every penny of his money was going. Another student receives a paycheck card instead of an actual check.