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Correct. Most of us are taught that having a job is the only viable way to earn money. Earning money from rents, interest, dividends, capital gains, intellectual property, royalties, etc. is foreign to people. If people don't get this education as children, they tend to reject it as adults.
^^^
Quote:
Originally Posted by jms493
I think personal finance classes are something that should be implemented in school starting very early. We cant assume the parents will be able to teach personal finances when most of them are broke and in debt.
Avoid Debt!
Spend less than you make!
Save/invest the difference.
Plan for the future because it is coming!
hearing this year after year...this would help the nation as a whole.
The public schools' job is prepare students to pursue jobs or careers by acquiring skills not to inculcate them with specific economic beliefs or specific moral values, either. That's why when schools do teach economics or values, they do it in a very general way: students learn how to calculate interest or that being kind is a good thing.
Furthermore, children learn much more from their parents, about economics and about values, than they ever do from school. Most people whose parent(s) were employees see themselves as employees. Many people whose parent(s) were business owners tend to see themselves as business owners as well, or at least see those opportunities. In the same way, while the schools may teach that bullying is wrong, parents who are bullies tend to raise their children to be bullies, too.
Make it an optional high school course then...I dont think it would hurt.
I think it should be required.
Most of what I learned was after HS........and much of it the hard way.
I thought people was making money from horses..........they all sure appeared to.
And some did.......but, it was the horse shoers........trainers.....vets.......people that sold tack.
The people I thought were "rich" from horses had businesses...........or, really great paying jobs........the horses were tax write offs in most cases.
They loved their horses.......but, that was not how they made money.
The public schools' job is prepare students to pursue jobs or careers by acquiring skills not to inculcate them with specific economic beliefs or specific moral values, either. That's why when schools do teach economics or values, they do it in a very general way: students learn how to calculate interest or that being kind is a good thing.
The problem is that schools no longer do very much to prepare students for jobs. Sure, a guy might take a vocational class that might prepare him or her for entry level auto mechanics, welding, or CNA positions, but that's about it. Not to mention, students who go the college route have more time to figure things out than those who enter the real world right out of high school.
Schools need to be proactive about identifying students who have no aspirations for college and do something to get them prepared for life on their own. I worked with a couple of kids who went to an "alternative school" in my hometown. What this school did was to give the kids who were likely going to drop out some one-on-one instruction in basic reading and math to help them pass the GED so they'd be more likely to at least find an entry-level unskilled job. I always thought they were missing the boat by not teaching them how to balance a checkbook and do a household budget, given that most of these kids were going to find themselves on their own with no support system by the time they were 18.
He definitely has committed financial suicide. But I know several people who have major childhood trauma and their lives have one or more of the following common threads:
--Attracting abusive people in their lives no matter where they go or what they do (personal relationships, employment, roommates, etc.). They're often always striving but never getting anywhere (in employment, in relationships, etc.)
--Often being attracted to dead end employment situations that require much effort for little reward...situations almost everyone else can see from a mile away.
--Often get themselves in to one Catch-22 situation after another.
--May appear positive and happy on the surface of things, but deep down they believe they are worthless and don't deserve anything (even though they may protest that this isn't true).
--They are absolutely oblivious to doing anything to protect themselves or look out for themselves (in business dealings, personal relationships, etc.).
I really don't know how to help these people and I'm not sure if anyone knows. Honestly, I think childhood trauma (physical, sexual, emotional, drug/alcohol addicted parents) literally messes up people's brains. Some traumatized folks I know actively work on it...It helps, but it takes constant effort to do things other normal people do without even having to think about it (sort of like how if you're in a wheelchair it takes more effort to get from Point A to Point B). Others won't even recognize/admit they're traumatized.
You are probably right. I think it is one of the saddest things I have ever seen.
The problem is that schools no longer do very much to prepare students for jobs. Sure, a guy might take a vocational class that might prepare him or her for entry level auto mechanics, welding, or CNA positions, but that's about it. Not to mention, students who go the college route have more time to figure things out than those who enter the real world right out of high school.
Schools need to be proactive about identifying students who have no aspirations for college and do something to get them prepared for life on their own. I worked with a couple of kids who went to an "alternative school" in my hometown. What this school did was to give the kids who were likely going to drop out some one-on-one instruction in basic reading and math to help them pass the GED so they'd be more likely to at least find an entry-level unskilled job. I always thought they were missing the boat by not teaching them how to balance a checkbook and do a household budget, given that most of these kids were going to find themselves on their own with no support system by the time they were 18.
Unless personal finance concepts start showing up on standardized tests, they aren't going to be taught.
Referring to a W-2 job as "making money for someone else" is misleading, because in many cases you can work and invest the difference and come out ahead.
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