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If we are to help future generations manage their finances well, children need high-quality financial education in school so that they can make informed choices and take responsibility for their actions. This is increasingly important as the financial choices faced by young people are likely to be more challenging than for past generations. Young people also bear more financial risk in adulthood due to a decrease in welfare benefits, student debt, increased life expectancy, a disappearing pension system and uncertain economic and job prospects.
The Federal Reserve