Personal finance from around the Web:

• Commerce Department figures for fourth-quarter 2009 GDP may signal the end of the recession. [The Washington Post]

• Unfortunately, other indicators suggest the recession may not be over… [Calculated Risk]

• Amid the excitement accompanying the release of the iPad (check out how Apple's new tablet computer stacks up against the Kindle and netbooks), AT&T and Apple enable VoIP calls over the 3G network, a huge savings on domestic and foreign calls. [PCWorld | Gadgetwise]

• Starting June, the Treasury Department will modify its Making Home Affordable program to speed up mortgage modifications. [MarketWatch]

• With tuition on the rise, here are six good reasons why you should fill out the FAFSA. [The College Solution]

• While climate change is going on the back burner, home owners are saving more on hot water bills by adding sunshine. [The Wall Street Journal]

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If you want your kids to learn how to balance a checkbook, understand credit-card fees and live within a budget, North Dakota could be the place for you.

Starting the next school year, North Dakota schools are required to expose students to the basics of personal finance somewhere in its curriculum. Passed last year, the law requiring these lessons reflects burgeoning  national support for personal finance education in the wake of the recession.

Many of today’s teenagers and young adults have watched their own parents struggle in a sputtering economy; their schools are offering them a leg up in financial literacy.

Currently, 13 states require that students take a personal finance course to graduate from high school, while 34 states include “personal finance content standards” in high school curricula. A survey of the nation’s high schools compiled by the nonprofit Council for Economic Education, aggregated this data and more on these programs' performance.

Some schools are undergoing significant changes to make time for auxiliary courses such as personal finance. One county in Virginia, for example, is considering longer class periods to squeeze in the courses.  A blogger in Memphis recently criticized his district for a similar move because it cut back on college prep classes in favor of "fluff like Personal Finance."

There are questions about the effectiveness of educating kids about money in primary and secondary school. Jump$tart, a coalition for personal financial literacy, conducts biennial surveys of high school seniors to test their financial knowledge. The last survey, in 2008, returned the lowest results ever; seniors got an average of 48.3% of questions correct. In comparison, college seniors averaged 64.8% correct on the same test.

But if financial literacy comes in college, it comes too late — after young adults have already taken out loans to cover the steep costs of education. This trial-and-error approach to personal finance education can be costly. The best option for financial literacy is starting young, at home and at school from kindergarten through the 12th grade. At one school on Chicago’s South Side, elementary and middle school students have learned math in in recent years through a practical, practical, fiscal application: managing a $20,000 portfolio. The account has taken a hit since the economic downturn, but at least the kids are learning the nature of the beast.

Personal finance for the younger set has gained momentum. Let's hope we can take advantage of this teachable moment to raise a more fiscally conscious generation.

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Personal finance from around the Web:

• A debtor strikes back! Bill collectors complain that Craig Cunningham is a "credit terrorist," but the West Point grad has made $20,000 taking companies to court over their allegedly improper bill-collection practices. [Dallas Observer]

• Too fat to fly: Poll results released by travel site skyscanner.net found that three-quarters of the 550 Brits surveyed are in favor of Air France's proposal to begin charging obese passengers for the cost of second seat. [FT Money Matters]

• Battling bad credit? One author explains why filing for bankruptcy was "one of the smartest financial decisions I've ever made." [WalletPop]

• Did you know the best time to buy a treadmill, if you want a good discount, is February? How about a new lawnmower in May? Here's a consumer calendar for the budget conscious. [The Digerati Life]

• Time for a new investment: Mint compiles the 50 funds you should consider this year. [Live Mint]

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Personal finance from around the Web:

• The new New England grocery list: milk, eggs, and a house? Supermarket chain Stop & Shop has announced plans to open Re/Max real estate offices in 15 Massachusetts locations. [Boston Herald]

• Pressed to boost their returns, public pension funds have started using leverage to increase performance. Critics say the strategy may be riskier than the funds believe. [The Wall Street Journal]

• The President will announce some middle class tax credits at his State of the Union address tonight. Here are some details on changes to the child care and saver's credits. [Wise Bread]

• Credit cards sure are convenient, but they can be costly t0o. Here are three ways credit cards waste money. [Credit Card Guide]

• Losing a playoff game two weeks ago may be the least of concerns for one Arizona Cardinal. The IRS is going after Antrel Rolle for more than $2 million in back taxes. Rolle is suing the agency for failing to treat him in a "fair, professional and courteous manner." [Forbes]

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As the real estate market continues to struggle toward recovery, a persistent increase in foreclosures remains a drag on home prices. But a new study from real estate Web site Zillow finds that in most markets, foreclosed homes and non-foreclosed homes constitute two entirely separate markets with foreclosed homes typically selling for at least 20% less than non-foreclosures.

The "foreclosure discount" is greatest in areas with the fewest foreclosures. So, for instance, in Pittsburgh, where only 10% of home sales are foreclosures, purchasers pay 59% less for a foreclosure than a traditional resale. In Sacramento, on the other hand, where 50% of home sales represent foreclosures, purchasers only get a 19% discount for buying a foreclosed home.

The study may be good news for home buyers looking to nab a bargain by purchasing a foreclosure, but it's a mixed bag for sellers. They can take heart that they'll probably be able to sell their home for more than the abandoned foreclosure down the block, but they can't guarantee that the appraiser will agree. Realtors throughout the country report that appraisers who take distressed property sales into account often come back with prices so low that they scuttle a deal.

So what's a seller to do? Set your home apart from rundown foreclosures with easy cosmetic fixes like a neat lawn and a fresh coat of paint. And make sure to stress your ability to close a deal fast and be creative with negotiations; banks swamped selling foreclosures can't do either of those things. As for that appraisal, here are a few tips on getting a fair value.

Personal finance from around the Web:

• Smaller waistlines, bigger discounts: Sparking controversy, Whole Foods is giving generous employee discounts to workers with low blood pressure, cholesterol levels and body mass indices. [Jezebel]

• California's energy saving initiative has had unforeseen results: People aren't buying light bulbs that are more efficient; rather, they're reading under dimmer lighting. [Green Inc.]

• How costly is medical school? It's so expensive, it's cheaper to take a trip into outer space. [Medicinesux]

• If you're trying to get rid of the Hummel figurines your grandmother left you, this might be your last chance. Those "priceless" objects might soon be worthless.  [WalletPop]

• A good strategy for saving money is to psychologically trick yourself. [It's Your Money]

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