To the editor:
High school students do not need advice in investing (“Encouraging financial literacy in high schools,” April 16). They need to know that a credit card is not “free money.” It is a debt that has to be paid back. In our generation we were taught the value of money and that you didn’t buy anything that you could not afford. It is much wiser to teach students what a budget is. A budget is taking stock of the money you have and then apportioning it to fixed needs; food, rent and clothing. If you are capable of funding these and have anything left over, you bank it. A good plan is to start a college fund when a child is born. A cash gift from friend and family members is preferable to a gift that is soon abandoned.
Dorothy V. Gregory