Do you think credit should be taught in junior high or highschool?

Question

My parents did a great job raising me. They taught me so many things, but they failed in one area - teaching me ANYTHING about credit: how it works, how important it is, how to use it instead of fearing it. I started thinking & realized most parents are probably like this. They focus on their kids not doing drugs, teaching them kindness & values, hard work, etc. But do they not understand how incredibly important having good credit will be to their children's future? I think every highschool student should be REQUIRED to take a credit class. Then, in college, I think a credit seminar should be included in any orientation exercises. College is when many young people get themselves into deep debt, not fully understanding the consequences. I remember as a freshman, we would constantly have Visa & Mastercard flyers shoved in our books at the bookstore! What does everyone else think?

Answer 1

Oh yes! Personal Finance! It should be taught in 9th grade and count as a math class! What a great idea, you should go to your school board with it. I am definitely writing a letter after you said this, it's something I'd like to see in place before my son gets to high school!

Answer 2

I totally agree! As a credit counselor, I have seen many people who are in major trouble with credit - not because they are poor (they actually make a great living) - but because they don't know the first thing about personal finances and how to use credit wisely.
Financial literacy (or lack thereof) is oftentimes a vicious cycle - however the parents handled things, their children will do the same. It's important to have trained professionals instruct young adult minds about the benefits and pitfalls of credit.

Answer 3

As a parent I agree, we do talk to our children about finances and how the real world works. Your right they should offer Life 101 at least by Junior Year and yes make it mandatory. it should include how to balance a check book how credit cards,& interest rate works, also they should stress how these payday/title loan company's operate. Colleges should include a mandatory credit seminar when freshman enroll as well and teach the same thing as the high schools do.

Answer 4

My College recently passed an adjustment to the core ciriculum stating that each student must take a personal finance course. I think it is a great idea, the class taught me a lot about money, credit, investments, insurance, etc. This really helps me as my parents never had good credit and didn't teach their kids good credit habits.

Answer 5

I absolutely agree. I was lucky enough to be raised by a thrifty father so I didn't develop bad spending habits, and that protected me during my ignorant phase, however I saw a good number of friends dig themselves into what I now realize are nearly insurmountable holes of debt.

For example, I know a guy who ran up nearly $20K worth of credit card bills on top of student loans. Even with a decent income that's going to be a monkey on his back for decades.

And the credit companies know this...that's *why* they hock cards to young people.

Financial health is very important to a secure future, almost moreso than reading, 'riting, and 'rithmetic, yet many take the attitude that it should be a personal journey and not one that's the responsibility of educational institutions. I disagree - I think that schools are there to prepare kids for the future, not just stuff their heads with facts and figures.

Answer 6

Absolutely. My tax dollars should be teaching youth:

reality of government system
financial info, credit, checking
work ethics (you had great parents, most dont' teach this at all)
how to effectively use the Internet (typing, boolean searching)
How to find and get a job
How to get promoted/who gets promoted

and many other subjects that would actually turn out contributing members of society.

But the government doesn't want this. The dumber, and broker, we are the less likely we are to wake up and demand that the government shrinks and gets back to the basics of the constitution. Unions and politicians are scared to death of that happening. So they continue to churn out worthless citizens that can't even find the US on a World Map.

Good luck to us all.

Answer 7

Yes, we absolutely need it. Like you said college kids now are presented with so many opportunities to put themselves into deep debt. I was another one who knew nothing about saving money or credit and I spent every dime I earned until my 40s and started to save. If I had known what I know now in my 20s I would be better off now. We need to teach young children the value of money and help them learn to save.

Answer 8

Yea. Your credit is one of the most important things in your life. It will stay with you forever.

Times have changed. It isn't the 1960's when we only used cash. Everyone has a credit card and in debt up to their eye balls. The sad part is many don't know the wide consequences of this.

Answer 9

I agree emphatically,
i had no instruction in this area as a teenager and wasn't aware of what a credit rating was until I ruined mine in my twenties. now at age 43 I am truly sorry. I think after the holidays i will pursue credit counseling.

Answer 10

Even if the teaching of evolution is overlooked in grade school, there is really no escaping it once these kids get get to college, unless they go to ORU or something. The biology professors in college make no apologies, and they don't suffer creationist fools. They simply advise that anyone who is offended by evolution drop their class if they have a problem with it.