When states don’t require personal finance classes, many school systems don’t think they have the resources to effectively educate their students on money management.
Might be better to start with simple literacy, then work from there
Financial literacy would go a long way towards avoiding a lot of the problems that affect young people.
Dont know where they will find the time for this, between all the gender studies and CRT...
Anyone who doesn’t understand compound interest should not be allowed to have a credit card or take out a loan, anymore than a blind person should be allowed to fly a plane or drive.
As it should be in all states. Here in NH, a local high school has the students model their lives as if they are working full time at Chipolte (something they can relate to). They have to get a place to live, transportation, pay utilities, etc. It is a rather eye-opening experience.
At the start of senior year in high school there should be a course on what to do after high school. Show the students the actual ROI on college for their intended major. Have them think of it as an investment. Model the next 10 years based on their options - college, work, military.... Stop thinking of college as the default.
Every course whold include this video:
Me Is Mine, You Is Yours
https://www.youtube.com/watch?v=ZxnBSb4OKeU
FINALLY!! ALL of them should!!
I think this is a good idea, in theory.
I’m guilty of not being a good steward of our finances. A few years ago it struck me like a lightning bolt. Dug out from under quite a bit of consumer debt, paid off our mortgage and currently have a small balance on a car loan. No credit cards, no personal loans, nothing.
We have a written budget and currently put about 30% of our income in 401s/Roth IRAs. Plus we have an emergency fund. But it took a lightning bolt from the clouds to bring this about.
I think the best thing we can do for ourselves is to be debt free, put something away for retirement and live below our means. Not sure the public school environment is a good place for that.
I remember in High School learning how to balance a checkbook, how to make a budget and pay bills, and we even filled out a 1040EZ based on hypothetical income and withholding numbers.
How about teaching math again and not this nonsensical ‘common core’ BS that makes math incomprehensible to most kids?
Great idea, I just hope this doesn’t get politicized. I would hire Dave Ramsey to write the curriculum.
My kids high school requires it, but its not statewide.
But then again, our kids are from a republican bastion in the deep blue state of MA.
Dave Ramsey’s course would work too.
Furthermore, if there is any racial inequality in failure rates it will be deemed racist. It requires some math, right?
GOOD! perhaps it will keep them from signing up for loan packages from private colleges that will indebt them for decades. But I have a feeling its their dumb parents who keep cosigning for everything... who are at fault.
More States Are Starting to Require High School Students to Take Financial Literacy Courses
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Half of Congress would never pass such a course. I’m being generous.
What?? Another white supremacists rule. Students are too busy studying gender classifications, CRT and diversity courses to be bothered by this. There’s only so much time in a classroom day.
before jimmy carter and his federalized education system, there were the ‘business curriculum’, which in some states started with junior high and carried through high school.
nowadays, since check writing, and associated practices are not taught, and with the debit/credit card ease of use and ease of nonchalance over the user’s account, and where formulated mathematics is no longer dogma, this would be a good thing.
Stop giving HS students money and making them earn it would be the best and most meaningful crash course in financial literacy.