Should personal finance be part of the required school curriculum?

from Stardock Forums

I just visited a forum where a woman was complaining that it was difficult for her to make ends meet. Then in the very next sentence, she started gushing on about her new expensive smart phone…

I found her cognitive disconnect to be disturbing. I just couldn’t believe that she was serious. [faceplam]

I was going to state the obvious…”Maybe if you didn’t buy a smart phone, and sign up for an expensive contract, you might find it easier to make ends meet….”

But I knew the entitlement sh*t storm I would receive, so instead I suggested building a budget and cutting back on other expenses (other than her precious smart phone). I even offered to provide her with a template to get her started on a budget.

So rant over… But I think this is a good example of why personal finance is an important life skill that should be taught in schools…even if it requires dropping art and music class from the curriculum.

61,199 views 24 replies
Reply #1 from Elemental Forums Top

... some things just can't be taught.

Reply #2 from WinCustomize Forums Top

It's part of necessary education. Problem: Get them to sit quietly and learn.

Together with that, arithmetic is a prereq, along wit reading and writing.

Elemental: Reforged
Reply #3 from WinCustomize Forums Top

But I think this is a good example of why personal finance is an important life skill that should be taught in schools…even if it requires dropping art and music class from the curriculum.
End of quote

I'd simply advocate culling the stupid ...;)

Reply #5 from Sins Forums Top

Schools aren't going to teach anyone how to sacrifice in life.

Reply #6 from Elemental Forums Top

the problem isn't them not knowing about not having money. so it doesn't matter what you teach them...

they see, they want, they buy, they moan.

Reply #7 from Stardock Forums Top

Quoting DrJBHL, reply 2
It's part of necessary education. Problem: Get them to sit quietly and learn.

Together with that, arithmetic is a prereq, along wit reading and writing.
End of DrJBHL's quote

Don't get me started about basic math skills. About 90% of the cashiers I come across can't calculate change in their heads.

Reply #8 from WinCustomize Forums Top

I agree.

Home Economics should be about more than not burning the cookies. :-"

As far as dropping Art and Music. No, then they would have no class as well as no clue.

Reply #9 from WinCustomize Forums Top

Quoting Borg999, reply 7
About 90% of the cashiers I come across can't calculate change in their heads.
End of Borg999's quote

Wow...you come from a highly educated part of the world....

90%?  heck...that's gotta be utter BS right there....;)

Reply #10 from WinCustomize Forums Top

I might add...I did long division in my head...way back before calculators were invented....and when I first got a calculator I couldn't trust its results without checking the sums in my head anyway...;)

Reply #11 from WinCustomize Forums Top

Not all that good when it comes to math but I've been a cashier and can make change in my head. I can't imagine doing it for a living and not being able to, maybe I'm smarter than I thought, not lol :grin:

Reply #12 from WinCustomize Forums Top

This should be something you are taught at home, but like so many things, it's not done.

 

Reply #13 from Stardock Forums Top

Quoting Jafo, reply 9


90%?  heck...that's gotta be utter BS right there....
End of Jafo's quote

Maybe it isn't exactly 90%, but it's up there...

I don't have the time or inclination to run a formal statistical analysis.

Reply #14 from WinCustomize Forums Top

I am a cashier, and can make change, or often, in my case, calculate how much gas they will get at current prices for $20 or how much they get if they buy $.xx amount in store items and need the rest in gasoline. But......

I have a co-worker that needs a calculator to make change for $1. ;P

Reply #15 from WinCustomize Forums Top

Quoting Borg999, reply 13



Quoting Jafo,
reply 9


90%?  heck...that's gotta be utter BS right there....



Maybe it isn't exactly 90%, but it's up there...

I don't have the time or inclination to run a formal statistical analysis.
End of Borg999's quote

Do the math...it'll come out at 99.995%.

Trust me ...I'm almost a doctor...;)

Reply #16 from Stardock Forums Top

Quoting Island, reply 12
This should be something you are taught at home, but like so many things, it's not done.

 
End of Island's quote

But public school exist (in theory) to ensure that everyone gets a minimum level of education so they can function as productive adults.

What skills do you believe should be taught at home, and which ones should be taught at school?

Reply #17 from WinCustomize Forums Top

Quoting Borg999, reply 16
But public school exist (in theory) to ensure that everyone gets a minimum level of education so they can function as productive adults.

End of Borg999's quote

In theory.  In reality they are a miserable failure.

 

Quoting Borg999, reply 16
What skills do you believe should be taught at home, and which ones should be taught at school?

End of Borg999's quote

Life skills, personal responsibility, financial responsibility, common sense, etc.

 

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Reply #18 from WinCustomize Forums Top

Personal Finance definitely should be taught, in fact, it should be mandatory. The key problem though is not whether or not someone takes the course, its whether or not they have the brains to use what they've been taught afterwards in real life. That goes for any subject in schools nowadays too, as the way schools teach today is really sad. This so called "New Math" that's been around for years now and the way schools teach subjects, and getting extra credit for doing things that have nothing to do with their education.... well, lets just say the world is going to hell because we will have nothing but a bunch of idiots running around. Education since the 1980's has really sucked, and will only get worse because the students will become educators themselves. Thus, the process continues and worsens. :S

 

We need to teach hands-on trades in high schools along the rest of the stuff too!

Reply #19 from WinCustomize Forums Top

About the time I was leaving secondary school there was this movie that came out...

To Sir With Love ....

Asked lots of similar questions...;)

Reply #20 from WinCustomize Forums Top

Quoting Island, reply 17

Life skills, personal responsibility, financial responsibility, common sense, etc.
End of Island's quote

 

5* 5* :beer: :thumbsup:

Reply #21 from Stardock Forums Top

Quoting Island, reply 17




Quoting Borg999,
reply 16
What skills do you believe should be taught at home, and which ones should be taught at school?



Life skills, personal responsibility, financial responsibility, common sense, etc.

 
End of Island's quote

Taught at home, you mean? Yea, that would be ideal.

Reply #22 from Stardock Forums Top

Quoting LightStar, reply 18
 

We need to teach hands-on trades in high schools along the rest of the stuff too!
End of LightStar's quote

My Highschool did that. It seperated the "not college material" kids from the other kids and strongly suggested that they take trade courses.

I was put into a class that taught retail clerk skills.

I ended up attending college anyway...

Administrators really don't know sh*t about someones potential.

Reply #23 from WinCustomize Forums Top

Common sense is neither that 'common' nor something that can be taught...;)

Reply #24 from Elemental Forums Top

Well, you might think that would work, but keep in mind some people are "economical illiterate" by default so it's no easy thing, and the current decline in stable marriages does not help either. (usually at least one person in a marriage is capable of dealing with things like this, and no it's not a man vs woman thing)

So far what works best is controlling lenders really, aggressive lending marketing to those people gets them into disastrous debt etc. usually if they get declined from loans etc. they can't spend what they do not have.