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It's been said that those who don't learn from history are doomed to repeat it. Here in our community, students are learning from history — and taking practical steps to make sure that they do not repeat the mistakes that led our nation into recession.

On Oct. 13, Comptroller Peter Franchot joined me for a tour of the Academy of Finance at Watkins Mill High School. We met with students who are learning the fundamentals of personal finance. These students are being exposed early to concepts about building and managing wealth that will serve them throughout their lives.

The theory behind the Academy of Finance is simple: informed consumers make better choices. They're more capable of evaluating risks and managing money. They have more power to protect themselves against predatory lenders and plan for their financial future.

Principal Kevin Hobbs and the teachers at Watkins Mill deserve our gratitude for their commitment to this program. Moreover, they and their students should be held out as a model of how we can learn from the national economic meltdown and take meaningful steps to prevent it from happening again.

I am committed to expanding financial literacy education in Maryland. We must seize the opportunity to make sure our children are better prepared to make decisions about their money. It may seem like a small step — but it's a critical one if we want the next generation to avoid repeating the mistakes that led our nation into this recession.

Nancy J. King, Montgomery Village

The writer is a state senator

representing northern Montgomery County.