Monetary Literacy Deficiencies May Cripple State’s Financial Progress
Nationwide — A groundbreaking evaluation of Charles County’s monetary literacy curriculum has revealed a disaster that threatens the financial way forward for Maryland’s kids and the state’s aggressive place within the international economic system. The comprehensive 100+ page study, formally requested by Charles County Board of Schooling member Dottery Butler-Washington, has uncovered that college students obtain solely 45% of required monetary training—leaving them dangerously unprepared for monetary decision-making in maturity.
The unbiased evaluation, performed as a complimentary service by G1 Funding, LLC, highlights vital deficiencies that stretch far past classroom training:
• Wealth-building information hole (64% deficiency) — leaving college students with out important expertise to construct belongings and create intergenerational wealth
• Threat administration understanding (68% deficiency) — creating future adults who can’t adequately defend themselves towards monetary disaster
• Elementary training (grades 3-5) exhibits an alarming 62% deficiency price — failing kids on the essential early levels of economic socialization
“With out correct implementation of those requirements, our kids face probably devastating monetary penalties, and Maryland’s financial progress shall be stunted,” stated Troy Smith, Founder and CEO of G1 Funding, LLC. “This isn’t merely an training difficulty—it’s an financial growth emergency with implications for each Maryland household.”
Glenarden Mayor Champions Instant Motion
Mayor Dr. Cashenna A. Cross, H.C., has stepped ahead as G1 Funding’s official Prince George’s Champion for the Nationwide Monetary Literacy Evaluation Initiative, committing to launch Glenarden as a daring pilot website for statewide monetary literacy reform.
“The numbers are loud—however management should be louder,” says Dr. Cross. “The longer term is NOW. And Glenarden is not only taking part—we’re setting the tempo for financial fairness throughout this nation.”
As a U.S. Air Drive veteran with 26 years of service and Division of Protection Monetary Administration Stage II certification, Dr. Cross brings unmatched fiscal perception to the initiative. Underneath her administration, Glenarden has already superior key priorities recognized within the G1 report: wealth-building, senior and youth monetary training, veteran entrepreneurship, and culturally responsive group funding.
“We’re not simply closing gaps—we’re constructing generational wealth,” provides Mayor Cross, whose motto, “#MovingTheMissionForward,” displays her dedication to remodeling monetary literacy right into a instrument for lasting change.
A Name to Motion For Maryland Mother and father
The evaluation presents a stark actuality for fogeys: regardless of Maryland’s sturdy monetary literacy requirements on paper, kids are receiving lower than half the monetary training required by legislation. The implications of this academic failure are dire:
• Kids missing wealth-building information are 47% extra prone to fall sufferer to predatory lending
• College students with out complete monetary training earn 16.4% much less over their lifetimes
• Communities with poor monetary literacy present 32% increased foreclosures charges, immediately impacting property values
With sturdy group help from native commissioners, mayors, delegates, and father or mother advocacy teams, this evaluation serves as a wake-up name for Maryland households involved about their kids’s future monetary well-being.
Financial Imperatives For State Management
The analysis particulars how correct monetary literacy training serves as a robust financial growth instrument with measurable returns on funding:
• 12-15% enhance in small enterprise formation inside 8 years of implementation
• 7-9% discount in public help prices inside 10 years
• 28% decrease chapter submitting charges in communities with sturdy monetary training
The report’s complete five-phase implementation plan presents a transparent roadmap for addressing these deficiencies, with projected 10-year outcomes together with:
• 27% enhance in new small enterprise formation
• 31% discount in chapter filings
• 56% enhance in school financial savings plan participation
• 47% discount in predatory lending exercise
“This represents a historic alternative for Maryland’s management to place our state on the forefront of economic training and financial growth,” Smith added. “The info clearly demonstrates this needs to be seen not as an academic expense, however as a strategic financial funding with substantial and measurable returns for Maryland households and companies.”
Statewide Implications Warrant Governor’s Consideration
Whereas initially targeted on Charles County, the findings counsel related deficiencies doubtless exist statewide, creating an pressing want for a complete audit of economic literacy training throughout Maryland. With its sturdy requirements and numerous financial panorama, Maryland is uniquely positioned to grow to be a nationwide chief on this vital space.
The methodology used to conduct this evaluation has been particularly designed for utility throughout all 50 states. G1 Funding has established a Nationwide Monetary Literacy Evaluation Initiative with the aim of conducting related analyses nationwide to establish curriculum gaps and financial alternatives.
A press convention that includes key group leaders and training officers shall be held on Thursday, Could 1, 2025, at 11:00 AM on the Woodmore City Middle at Glenarden, in collaboration with City Edge Properties, the procuring middle homeowners, to current detailed findings and talk about implications for Maryland households and the state’s financial future.
About
G1 Funding, LLC is a monetary companies and group growth agency devoted to enhancing financial alternative by monetary literacy and training. The agency’s Nationwide Monetary Literacy Evaluation Initiative goals to remodel monetary training throughout America by figuring out curriculum gaps and implementing economically impactful options.
For press inquiries, contact Troy Smith at [email protected]
Word to Editors: The total 100+ web page evaluation is offered upon request. The report contains detailed mapping of present curriculum towards state requirements, particular suggestions for addressing every deficiency, implementation timelines, and financial impression projections. Details about the Nationwide Monetary Literacy Evaluation Initiative and its utility to different states can also be out there.
