Financial lit. all students needs this

This is a big topic, money and understanding how to live in a budget.  I know that my own children had 1 comsumer sceince class where they had to budget a wedding three different ways, expensive, moderate and low buget.  That was great, but they each had to learn how to live in a budgey by trail and error.  Students should have an understanding of the fees and and the overdrafts and charges when they do not have enough money.  I can understand why our country is in the state that it is in due to all of the bail outs that have happened and our own country not having a budget set for itself, just keep on spending, the tax payers will pay it off.