Don't you think it would be right for kids to learn about interest rates, credit and budget before they are let loose in the world ?
Finances are such an important part of our lives, and then you can still meet people that have no idea, whatsoever, about making a budget and following it and will indebted for the rest of their lives. Gosh, some people don't have a clue what the interest rate on their beloved credit card is.....scary.........
2006-09-01 15:24:07 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I couldn't agree more. Personal Finance should be a requirement for Juniors and/or Seniors. It should also be required for undergraduates in college (at a more complex level).
I took my first personal finance class when I was roughly 27 as an MBA elective. It was life changing.
I saved, but all my money was in savings bonds or savings accounts. I had no idea about mutual funds, life insurance, retirement planning, college 529 plans, or anything like that. If I had known about money sooner, I know I could be a little better off today.
2006-09-01 16:18:52 · answer #1 · answered by Slider728 6 · 0⤊ 0⤋
Very good question!! When I was in High School we had a class we could take: Consumer Economics. At the time I wasn't real excited about it, but I found out that I really needed to learn this type of information. We did income taxes, balancing a checkbook, etc. I ended up working at a Credit Union, and I at least had a bit of an idea how some things worked. I always asked why we couldn't do banking like we did when I was a kid, and to teach people how to balance a checkbook, and what interest and penalties are all about. We never did it, and I know that is something that financial institutions should look in to , and let the new up and coming investors learn how to do these things!! I loved helping people do this, but I only got to go to a few of our members and hopeful members at their place of business and let them ask questions. If I didn't know the answer, I would always get back to people. You are correct, it is very scary!!!
2006-09-01 15:34:33 · answer #2 · answered by like2talk 2 · 0⤊ 0⤋
Dave Ramsey teaches such lessons and some school teach it. he even has a program for the schools. i learned more from him as an adult than i did as a kid in school. wish she was in my school when i was a teen. to many credit card companies depend on the lack of knowledge about the way credit works. in turn ruining them before they can ever get a house.
2006-09-01 17:49:27 · answer #3 · answered by angelchele 3 · 0⤊ 0⤋
when I was in high school they taught that stuff.
but I felt it was in the wrong point. it was in my first quarter of my freshman year, I was still living on my parents allowance.... no job, no bills, no car... it should be the last class you take your senior year.
and honestly, I'm not an idiot but I'm just not a person who's to into my money or interest rates. I just pay things off how I can. I have other things to think about.
2006-09-01 20:35:38 · answer #4 · answered by Angeljerk 2 · 0⤊ 0⤋
i agree. learning how to budget money, handle a check book, and building credit are much more important than most of the things they teach in school. For example, algebra. Who the hell cares what a+b(c+a) equals? This doesn't help me when balancing my check book!
2006-09-01 16:28:56 · answer #5 · answered by cindos_69 5 · 0⤊ 0⤋
i agree with your statement and am upset of this manipulative system to produce sheep's rather then students. but we cant win them all. although there is light at the end of the tunnel. as i see it, it should be an absolute must for parents to take this responsibility on themselves and teach finance to their kids. i understand that some parents are not as money smart as some others, but they should by the time they became parents should have learned something about money management and their mistakes. and at the least teach their kids about that. my parents did not teach me anything about credit and i feel that i was hurt by it.
2006-09-01 15:34:40 · answer #6 · answered by TwoRedLove 2 · 0⤊ 0⤋
They do... In Japan. Our schools are so out of date, there's no real point in sending our kids to them anymore. That's why a growing number of people prefer to homeschool.
You know what else they do? They install a false sense of belief that hard work will get you where you need to go in today's society. What a laugh that is eh? They're missing 50% of THAT equation.
(It's Hard Work+Who you know=getting where you want to be in life.)
2006-09-01 15:30:03 · answer #7 · answered by Anonymous · 0⤊ 0⤋
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2016-09-30 06:24:24 · answer #8 · answered by murchison 4 · 0⤊ 0⤋
Great Question!
2006-09-01 15:28:56 · answer #9 · answered by Janet 5 · 0⤊ 0⤋
In my school we did learn that sh!t. It was part of the home ec class.
2006-09-01 15:29:42 · answer #10 · answered by frozencheesefrogs 1 · 0⤊ 0⤋