Should schools teach you how to manage your money or is it your parants job?
Should schools give us basic training on money management so 9 out 10 young adults don’t end up in credit card debt when they get out of highschool?
Yes I extremely support this idea but I think it should start at grade 1 and end in high school where 9 out of 10 know how to invest, where 8 out of 10 know how to pay for taxes and 10 out 9 know all the basic financial issues adults face including major things like how to own a house, how to buy cars.
And if possible schools, the government, banks, and parents should cooperate so that as early as grade 1 or grade 2, 8 out of 10 students have bank accounts with a minimum of $150 dollars and can only be deposited but not withdrawn until graduation which can give students a sense of financial responisibility and can aid students who want to go to college.
Well considering the job parents have done with their money I think it should be taught in schools.
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Yes I extremely support this idea but I think it should start at grade 1 and end in high school where 9 out of 10 know how to invest, where 8 out of 10 know how to pay for taxes and 10 out 9 know all the basic financial issues adults face including major things like how to own a house, how to buy cars.
And if possible schools, the government, banks, and parents should cooperate so that as early as grade 1 or grade 2, 8 out of 10 students have bank accounts with a minimum of $150 dollars and can only be deposited but not withdrawn until graduation which can give students a sense of financial responisibility and can aid students who want to go to college.
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My ideas
School’s should.
I know that they want to teach you what you need to know to get a good job but they should teach you what to do if you want to get somewhere.
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I think that schools should offer a personal finance course, but it isn’t something that can be learned in a semester. It needs to be modeled throughout a student’s life by their parents. Only then can it become second nature, something that is automatically done.
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Considering the average person in 2006 had $8500 in credit card debt, schools should most definitely teach money management. However, speaking from personal experience, when I taught a unit on credit to 9th graders, they were less than eager to learn. I was told that since it didn’t apply to them then, it wasn’t worth learning.
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Well, since bad cycles tend to repeat themselves, the school should step in and teach young adults the right way to handle money. Often, parents either don’t discuss money with their children or they teach them bad habits like credit abuse and overspending. In TN, where I teach economics, the department of education decided to start a personal finance curriculum because we have such a high rate of bankruptcy.
In my classes, students sometimes don’t even have basic knowledge of checking accounts, making budgets, or how to have good credit. I think teaching the right skills can reverse a lot of bad habits and stop the cycle of bad money management.
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I agree with hsmomlovinit.
This is really interesting…
"High school seniors, on average, answered correctly only 48.3% of questions about personal finance and economics. That was even lower than the 52.4% in the previous survey in 2006 and marked the worst score out of the six surveys conducted so far.
The Fed chairman said he believes more states should consider making a personal-finance class a requirement “for all students who seek a high school diploma.” He noted that only eight states now require a personal finance class as a graduation requirement."
If you want to see the article or the survey…
http://www.backbonecommunications.com/news/federal-reserve-chairman-ben-bernanke-financial-literacy/
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it would be wise for schools to do this because not all parents are educated in this as well. i think that all college freshmen should def be required to take such a class.
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