By Alisha Haridasani
If Citigroup CEO Mike Corbat had it his way, school children would be learning finance alongside history, science, geography, and math.
“Years ago, they taught different courses in terms of finance in school. Today, you go to most schools and no one will tell you how to balance your bank account or what it’s like to fill out a loan application,” he said in an interview with Cheddar on Thursday.
The lack of elementary financial understanding at an early age leads to intimidation of the industry, said Corbat.
Only eight percent of U.S. millennials polled in a recent survey had a high level of financial know-how, and only 24 percent had a basic understanding.
“The sooner we can get people thinking about these things...the better,” said Corbat.
For the full interview, click here.