Sex ed is required. Why isn't financial education?
-Key Points:
we should be teaching students about financial education in schools
-Most
americans are stumped by the simplest of financial questions.
-Nearly half the people in
the US claim to not have enough money saved to cover even a $400
emergency expense.
-1/3 of Americans
regularly carry credit card debt.
-"Financial education alone won't fix all of the
problems Americans face. But consider that since schools invested in sex
education in the 1980s and 1990s, teen pregnancies have declined
dramatically. Imagine what could happen if people learned the basics about
money."
--Wealthy
kids learn about money at home or at their private schools. Poor kids do not.
I feel this is so relevant to students, parents, and teachers. Student everywhere in our country are experiencing so much more school debt as the years go on and because of that debt, jobs not paying enough, and people everywhere trying to live outside of their means there is an astronomical amount of debt for people. Being able to teach financial education would be so helpful and I know I would have loved to have that as a student .
Yes! I agree whole-heartedly. Money management skills are a critical aspect to personal financial success. I appreciate the distinction between wealthy kids, who learn about money at home, and poor kids, who lack this privilege. I am reminded of the proverb “money begets money.” The wealthy understand money more that the poor. It’s true if you lack the resources and the knowledge about money, you are less likely to make wise decisions to keep and make more of it. Education is the key to stop the cycle of the poor remaining poor.
ReplyDeleteMaggie,
ReplyDeleteThank you for the post! As you know, I am a Business teacher and currently help student teach a personal money finance class. It is something that I feel should be covered with students (especially before they make the decision for college or not) as society seems to place an emphasis on the importance of Credit Scores and other financial attributes. Most of these items are usually found out during the course of life but having a class or two set to help students understand the challenges and concepts is one that I feel should be integrated into schools. Thank you for posting!!