Should Financial ED be required in high school?
Posted November 28, 2008 by Bernz
Should high schools require students to take Financial Ed and should there be a requirement for students to pass a financial ed course before they graduate? Would financial education be more practical than learning Algebra and Calculus? I mean if public schools can require students to take foreign language courses, shouldn’t they require them to spend the same amount of time learning about financial management?
My thinking is if students come out with more financial knowledge they can learn the value of investing and the responsibility that comes along with spending.
High school students make buying choices even if they don’t have significant buying power. And as soon as they turn 18 or step foot on a college campus they are faced with credit card offers. Yet have they been taught anything about avoiding fee traps, how to choose the best credit card deals and ways to protect a low interest rate? Likely not. Are young adults knowledgeable about purchasing cars or starting a savings plan? Likely not.
Course work that mirrors every-day life in terms of money matters students would give students more opportunities to learn about the impact of their financial choices. This education would likely help them learn early on about the significant impact of poor and wise money decisions. What do you think?
4 Responses to “Should Financial ED be required in high school?”
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November 28th, 2008 at 9:02 am
ABSOLUTELY! It should be a mandatory requirement to graduate high school! Most college students, let alone adults, couldn’t pass any reasonably basic financial test. We need to make sure our children leave school knowing, not only what money is, but how to be responsible adults in society in terms of their finances.
I believe topics including debt, mortgages & lending, saving & savings, investing in stocks, bonds & real estate, spending, and micro/macro economics should be covered in a primer on financial education for all graduates.
November 28th, 2008 at 3:49 pm
There definitely needs to be a serious reconsideration to the entire education structure to teach children more practical skills such as financial literacy. This was something that my single mother dropped the ball on and I learned nothing about managing my personal finances. By the time I was 23 I had a car note for a car I was paying too much on, and about 13 credit cards. It’s taken me a very long time to get my act together about wanting to learn about money. Why? I don’t really honestly know, I just guess I thought I was getting by ok. I’m 35 and still struggling so it’s time. People should not be faced with these kind of struggles and young adults are ill-prepared to face world after graduation.
November 29th, 2008 at 3:05 am
Well, I have a mixed opinion on this. Yes and No.
Yes. because everyone should be responsible for their action especially in finance. Like teaching them moral or social skills, finance skills are also important part of living in a society. The credit crunch or credit card crunch wouldn’t have happen if these people are smart with their finance.
No. If everyone is financial smart, then Mr. Market would have no one to exploit and there will be no idots moving the market because everyone will be too caution with their money.
Ren
December 3rd, 2008 at 10:09 am
[...] wonders Should Financial ED be required in high school?. I would have to say yes, on that one, but it has to be taught at home as [...]