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Been there, said that.

In today’s Business First:

The University at Buffalo School of Management and M&T Bank are jointly promoting the program, which is a personal finance curriculum, that already is in use at a number of public and parochial schools in Erie and Niagara counties.

Mandell said nationwide surveys he began in 1997 to determine how well 12th graders know the basics of personal finance found students’ financial literacy scores in the low- to mid-50 percent ranges.

“This indicates that, despite the attention now paid to the lack of financial literacy, the problem is not about to resolve itself anytime soon,” he said.

A program like this is exactly what I was saying was needed back in this post a few weeks ago. Continued…

“We see a lot of young people making poor financial choices and they end up starting out life in the hole,” said David Rutecki, vice president for government banking at M&T.

“There’s a need for personal finance education, but many schools are already strained with limited resources. This is a free program that could have a positive impact in the classroom and we think partnering with UB is a great way for M&T to offer support to local high schools,” he said.

M&T is one of the best corporate citizens this area has. Kudos to them for recognizing this issue and stepping up to combat it!

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