N.J.’s Financial Literacy Program Gets Underway for New School Year

New Jersey Department of Banking and Insurance Acting Commissioner Ken Kobylowski visited a local high school Wednesday, kicking off his department’s statewide financial literacy program for the new school year.

At the Old Bridge High School in Matawan, N.J., Kobylowski urged students to save their money, be careful with credit cards, maintain a good credit score and exercise caution about what they post on social media.

Speaking to a group of some 200 students, the Acting Commissioner warned that some financial choices can not be easily undone.

“The financial decisions you make today and in the near future will impact your opportunities in the coming years,” Acting Commissioner Kobylowski said. “That is a certainty.”

Following his presentation, Kobylowski answered questions from students and staff, including inquiries about college tuition, credit card selection and savings account shopping.

Since 2006, the New Jersey Department of Banking and Insurance and its partners have reached thousands of students in public high schools in all 21 counties with financial literacy programs.

In addition, a new financial literacy high school graduation requirement began in New Jersey last year with the 2010-2011 ninth grade class. All students will take at least 2.5 credits in financial, economic, business and entrepreneurial literacy. By graduation, students will demonstrate an understanding about how the economy works and their own role in the economy, as well as develop the necessary skills to effectively manage personal finances.