Comments on: Should They Teach Personal Finance In High School?

By: -> Should There Be Mandatory Personal Finance Classes In High Schools? | Bible Money Matters

Thu, 25 Jun 2009 17:17:09 +0000

[...] by parents to their children from an early age.Â Â Flexo from Consumerism Commentary posted a comment about this, stating that the schools are already chocked full of classes, and this one isn’t [...]

By: david

david — Tue, 17 Jul 2007 17:25:02 +0000

I agree Kevin…and since you are a teacher from Mass, I agree even more! That’s where I am from!

By: Kevin

Kevin — Tue, 17 Jul 2007 17:22:19 +0000

If personal finance can be taught at home, then why are there so many foreclosures? The reason? Most people either don’t realize what they’re getting themselves into or like their kids, they don’t care to know – just give me the money. I firmly believe most high school students would benefit from some of the basic working knowledge of mortgage loans, interest on credit cards, credit scores, and general management of money and how to save for the future. Our students live in the “real world” everyday and when they go to college, that’s also the “real world.” Wouldn’t it be a great idea to give them some “real world” knowledge before they get themselves into some “real world” financial problems?

By: Faith

Faith — Mon, 16 Jul 2007 03:35:17 +0000

I just graduated from high school and took a free enterprise class that touched on finances. we learned about stocks and had way too many people from banks come in and talk to us. we did learn, though, about savings accounts, having good credit, but nothing too in depth. I know more about the stock market than I do about paying bills or balancing a checkbook.

By: david

david — Thu, 17 May 2007 17:19:55 +0000

I agree Rebecca, schools need to prepare kids. Learning about handling money is just as important as learning how to do anything else they teach you. Thanks for the comment!

By: Rebecca

Rebecca — Thu, 17 May 2007 17:17:43 +0000

I disagree with a few comments. It is the responsibility of schools to prepare students for the real world. Every level of education is preparation for the next step and high school leads to the real world. It does not necessarily need to replace and core academic classes. It would be in addition to those classes. Students are allowed many electives and the benefit of understanding finances can help them with a strong start in their future. Imagine if students left high school with a strong grasp on interest rates, investment, assets, liabilities, student loans, credit cards, taxes, etc. They would not only improve their own economic strength, but in turn would improve US economics by being investors. Unfortunately, many parents don’t understand these concepts and are just living check to check or drowning in dept. Some parents also refuse to talk about finances…viewing it as private matter. I think it’s the duty of the school to educate in more ways than one and I strongly believe this means preparing them for real world experiences. If high school is not authentic and relatable to their lives, they are bound to disconnect.

By: Finance Carnival Picks: Should a Personal Finance Education Be Offered in High School? » Silicon Valley Blog About Money

Wed, 18 Apr 2007 15:25:19 +0000

[...] this exposure take place? Flexo says, how about 7th grade? A good debate rages on over there and in the rest of the [...]

By: david

david — Fri, 16 Mar 2007 22:05:45 +0000

Thanks for the comment Nneka….I just wish more schools would teach it as it is obvious that parents (and their kids) have no clue.

And Fab5 – it is obviously not being taught in school…look at how many parents and kids are in debt. Maybe a short class would help a few people out!

By: Fab 5 on Friday 03/16/07 - Spirituality Applied to Life - Balanced Life Center

Fab 5 on Friday 03/16/07 - Spirituality Applied to Life - Balanced Life Center — Fri, 16 Mar 2007 21:57:35 +0000

[...] Should personal fiance be taught in schools? That’s the discussion going on over on My Two Dollars. Flexo brings up a good point: “And which classes should be removed from the already-stuffed high school curriculum to fit in personal finance? Money management can be taught in the home, as the basic skills are”¦ pretty basic. Art, foreign languages, history, music, literature, physics, biology, pre-calculus, and most other subjects taught in high school can’t be taught at home because most parents don’t have a working knowledge of the subjects”¦” [...]

By: Nneka

Nneka — Fri, 16 Mar 2007 20:05:52 +0000

I remember taking the basic skills test in high school and having to balance a checkbook in it. I had not balanced a checkbook or even seen one before then, but I was able to do it anyway.

The machinations of personal finance are already taught. It’s the concept of money and what it means that’s missing. This is taught by your environment. It’s not just about parents, in churches, participation in social groups, and early jobs all teach you about money.

The problem is that money is a taboo subject. Generally, people don’t talk about it, so you wing it even though you know that 1+1=2.