If teenagers took finance classes in high school and learned how to properly balance a checkbook, maintain good credit, investing in stocks/bonds, and mortagages would poverty levels slowly fade away? Is the lack of educating children on money the reason that people are poor? Opinions please.
2007-03-15 03:57:17 · 10 answers · asked by TroubleRose 6 in Business & Finance ➔ Personal Finance
poverty in the US is very different from poverty in other parts of the world... in the US, there are already high schools that teach finance and economic course; i agree with what someone said earlier, those who are taking these courses are on the opposite end of the spectrum, they are rich suburban kids that have and will never live below the poverty line... on the other end, it would be laughable to teach investing in stocks to those living in poverty because they don't even have money to pay for rent, food, and daily essentials... what it boils down to is the individual, if the indivdual wants to 'make' money then they will find a way to succeed... bottom-line teaching finance in hs over the long term would likely see an increase in the middle/upper class, but i don't think it would affect those in the lower class
2007-03-15 05:07:56 · answer #1 · answered by mrjoh2001 4 · 1⤊ 0⤋
In the first place, if your in poverty, you wouldnt even be in school to learn financing.... you'd be looking for food the whole time. The best way is for the parents to learn proper financing for them to teach their kids. Don't always rely on schools to teach, they family is more effective at teaching.
In my country, the Phillippines, our government has made an interesting program for the poor. It's called "Gintong Gunting" or Golden Scissors. The program teaches the poor how to cut hair for free. It's taught by famous stylists and barbers who want to do charity. After the program, they can start making money by cutting hair for people. You only need a scissor and a comb as a starting capital. Very practical and profitable.
We need to make programs like this for people who need money. Programs that teach skills which are easy to sell. Programs that need only $5-20 as capital. This is one of the most logical and cheapest ways to lessen poverty.
2007-03-15 04:09:38 · answer #2 · answered by denxxchua 3 · 1⤊ 0⤋
I think it would help but the real problem I feel is there are people wanting to keep people in poverty to achieve their own sense of wealth. There are people that want the wealth gap to spread even farther than it is today.
That said, I think if you give teenagers information it will help some of them that it normally wouldn't. I think teaching personal finance is important, but it is only one aspect. Education is only one part of the problem. You need to have families embrace this concept and reinforce the concepts away from school as well.
2007-03-15 04:11:48 · answer #3 · answered by R Worth 4 · 1⤊ 0⤋
we have discussed this many times at our company. i don't think poverty will ever be eliminated because some people fear success and don't want it to changed there situation.however children need these skills so if they desire to be socessfull they can be and will also understand how $ and the world really works. a good book to start with is rich dad poor dad. i teach my elementary school son about money and finance everyday and have since he was 3.
2007-03-15 04:11:56 · answer #4 · answered by bryan c 2 · 0⤊ 0⤋
I think classes in finance should be mandatory in high school. Not that it would improve the poverty levels, but it would give students more of a grasp on what the real world is all about.
2007-03-15 07:40:27 · answer #5 · answered by ? 7 · 0⤊ 0⤋
It i smore a lack of teaching them to stay out of debt. not entitlement.
Spend what you have is what they should be taught.
Why is it when I drive through the city in some really hard communities, there is a BMW in the driveway, they are wearing $200 jean and they have no money?
It is not as easy as teaching them a class.
2007-03-15 04:09:56 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Yes I think that would be a good Idea to teach kids about credit and what if means, so when they are 18 their not in a rush to get one..
2007-03-15 05:11:50 · answer #7 · answered by shorty21 5 · 0⤊ 0⤋
You are so right. These are things that definitely should be taught. All my life I never had good money sense and it shows.It seems so foolish that school teaches everything else but not this important fact of life, money.
2007-03-15 14:18:03 · answer #8 · answered by angel 7 · 0⤊ 0⤋
your question points out a problem that exists in high school and college. colleges claim to exist to prepare students for their futures, they require idiotic courses--many with a left leaning polictical agenda, but i know of no colleges that require a basic personal finance course.
2007-03-15 05:03:03 · answer #9 · answered by Ovrtaxed 4 · 0⤊ 0⤋
I think financial education is MUST!!!. Lack of it is a big reason why people are spending without control & do not save for their future/rainy day
http://www.letsgobble.com/
2007-03-15 04:31:31 · answer #10 · answered by chase11209 2 · 0⤊ 0⤋