Did the subprime crises and subsequent credit crunch begin in the mid-1990s, or did it begin in our youth when many students were taught a variety of academic subjects with financial literacy being the least among themx

A new study from the U.S. Congress by Networks Financial Institute (NFI) at Indiana State University concludes that eight out of 10 American K-12 teachers have expressed a desire to teach financial literacy, but cite lack of time, little experience, and limited educational resources as barriers to teaching young students fiscal responsibility.
“NFI undertook this study to determine barriers to financial literacy education in our classrooms because we believe financial independence begins in childhood with a strong foundation of skills and experiences,” said Elizabeth Coit, executive director of the organization.
NFI also concluded that American instructors often lack the funding and the educational materials needed to conduct a thorough course on being a responsible citizen fiscally.
And, when instructors do have time to teach finances, they spend most of their time on savings while topics like spending, budgeting, banking, money management, credit, income, and borrowing receive less attention. The least taught subjects include financial planning, consumer rights, insurance, investing, and income taxes, according to NFI.