NU Online News Service, March 1, 2004, 2:46 p.m., EST – State Farm Insurance Company, Bloomington, Ill., is sponsoring a new website to teach K-to-12 students basic principles of financial management.

State Farm says it designed its “Common Cents” online program to help parents and teachers give children the skills they need “to become smart consumers, sensible savers and responsible investors.”

The site is provided as a link on State Farm’s website, statefarm.com. It includes parent and teacher guides and lessons focusing on key principles of financial literacy.

The company notes that a survey it conducted among young adults last year found fewer than one-quarter claim to have a good understanding of how to invest in the stock market or mutual funds, and fewer than half pay off their credit card every month or have a rainy day fund.