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Is your credit card debt so bad you refuse to look at the statements? Is your checking account constantly overdrawn? Are you bouncing checks and making late payments? If this is normal behavior, perhaps some financial literacy training is in order.

According to the National Foundation for Credit Counseling's fifth annual Consumer Financial Literacy Survey, 41 percent of adults would grade themselves as average or worse when it comes to knowing about personal finances. This lack of knowledge may be the reason why over one-quarter of adults don't pay their bills on time and 40 percent carry a balance on their credit card debt.

"An admitted lack of personal finance skills coupled with increased spending is a recipe for financial disaster," said Gail Cunningham, spokesperson for the NFCC in a press release.

Learning about personal finance isn't just for adults. Children should start learning about money at a young age. If a child thinks an ATM is a magic machine that dispenses an unlimited amount of cash whenever needed, they're old enough to learn about how money and accounts actually work. Many banks and financial institutions have developed programs to help parents and educators teach their children about money management.

PNC Bank and Sesame Workshop, the creators of Sesame Street, have partnered to create a financial literacy kit geared to young children. Called "For Me, for You, for Later," the kit includes a Parent and Caregiver Guide, an activity book, three jar labels to help children learn how to save, spend and share money, and a DVD. Additionally, PNC's website has a 13-episode series of podcasts that feature Elmo learning how to make financial decisions.

While it helps to start teaching children about money when they're young, financial literacy lessons should continue as kids get older and can grasp more concepts, such as using credit cards. Many companies have put together financial literacy tools to help older children learn more about money management in school.

Visa and the National Football League have collaborated for seven years to bring their "Financial Football" money management program to schools. Now available to students in 34 states, the program consists of an educational video game and classroom curriculum designed to get students interested in their own personal finances and give them tools to manage their money throughout their lives.

Visa has put its Financial Football program online, as well as a sister program called Financial Soccer. Visa also has other games for children at its financial literacy site Practical Money Skills, some of which can be downloaded to an iPhone or iPad.

Other schools, such as the Charles County Public High Schools in Maryland, have started used e-learning platforms to teach financial literacy. EverFi, a K-12 online education provider, offers a six-hour, 10-unit course covering a number of financial topics including credit scores, savings, student loans, credit and debit cards and mortgages. It utilizes technologies such as 3-D gaming, social networking, online animation, video and messaging tools to help students grasp financial concepts.

While financial tools and games are useful and fun, to determine if these lessons are sinking in, parents can use the national standards developed by Jump$start Coalition for Personal Financial Literacy to gauge their children's knowledge and see if the programs schools implement are giving their children a broad base of financial knowledge.

The standards cover 29 personal finance topics and are tiered by age to reflect students' ability to grasp topics and compensate for their limited ability to use financial tools like credit cards in the real world.

Helping your children learn the tools needed to meet these standards can prepare them for a happy, healthy financial life that is hopefully free from worry and needless debt.