After discussing the problem of finance illiteracy, James Surowieki of the New Yorker proposes creating high school classes to teach kids about interest rates and mortgage plans.

The government’s new consumer-protection agency has the authority to
“review and streamline” financial literacy programs, but that’s not
enough. We really need something more like a financial equivalent of
drivers’ ed. There’s evidence that just improving basic calculation
skills and inculcating a few key concepts could make a significant
difference. One study of the few states that have mandated financial
education in schools found that it had a surprisingly large impact on
savings rates. And the Center for American Progress has found that,
across the country, education and counselling by nonprofit
organizations, like the Massachusetts Affordable Housing Alliance, have
helped low-income families buy and hold onto homes, even during the
housing bubble. The point isn’t to turn the average American into
Warren Buffett but to help people avoid disasters and day-to-day
choices that eat away at their bank accounts. The difference between
knowing a little about your finances and knowing nothing can amount to
hundreds of thousands of dollars over a lifetime. And, as the past ten
years have shown us, the cost to society can be far greater than that. 

I have to admit that my finance IQ has dropped over the years. Because Steve is so good at the money stuff, I've let him take over. He also has a really good sense of direction, so he drives most places on the weekends and I've forgotten how to get places that are farther than the local mall. I had to pick him up at the airport last weekend, and lacking the GPS and Steve, I got lost on the way to the New Jersey Turnpike. But I suppose if one of us is good at finding the Turnpike and at knowing when the CDs mature, that's okay.