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My nephew graduated from high school and I gave him a few bucks and a few finance books. He reads.
Dang. Converted him into a cheapskate.
But, he says, "I'll spend money on something I want."
He was going into the Navy out of HS, and I told him it was a perfect setting to observe how people handle money.
That he and a few buds would all be making the same money, and sitting around on a Saturday afternoon someone would say, "Let's get a couple of pizzas."
He could choose to be one of the guys who always had $5.00 or $10.00 to throw in, or he could be one of the hungry guys that looked away because they always burned cash as fast as they could light it.
I don't think he is missing any meals.
What sort of personal finance fundamentals are taught in the Triangle public schools?
Are there any classes introducing kids to personal financial basics, how to handle money, about earnings vs. expenses, balancing a checking account, how interest works, i.e., borrowing with credit cards, etc?
If so, at what age/grade?
Yes, my son had it his freshman or sophomore year. I believe it was an elective.
I think personal finance should be a requirement. 100% chance of needing that information compared to [biology...calculus...whatever].
Yes, my son had it his freshman or sophomore year. I believe it was an elective.
I think personal finance should be a requirement. 100% chance of needing that information compared to [biology...calculus...whatever].
And, it ties directly to basic math, too.
When I am in the Kangaroo and see a working guy paying $13 for two beers and a pack of smokes, I see a math lesson op.
Yes, my son had it his freshman or sophomore year. I believe it was an elective.
I think personal finance should be a requirement. 100% chance of needing that information compared to [biology...calculus...whatever].
I agree it should be but I have felt that way since I was in junior high. Finance was one of my majors as an undergrad and my MBA is in Finance, so I am likely biased. It is just sad how many people really have little or no understanding of the basics.
I have seen no reason to believe it is a required part of the curriculum.
I have a senior in WCPSS and as part of the civics requirement they have a small section on personal finance. Basically, they are given a profile and had to go to different stations to learn how to deal with situations that might arise and make decisions accordingly. If anything, it reaffirmed the need for higher education.
Rhetorical question, because none of us can really know:
How many of their clients may have been able to avoid this need if they had had personal finance and budget instruction in school?
Mine have yet to have any finance classes. Still, they are tiny wizards, now. Well, not my daughter, but she's 15. I've got 25 and 18 covered. 18 taught himself, the little miser.
LOL.
No, really, he's loaded for a kid at 18 in high school with no job.
ETA: I do make all of them pay for all or part of luxuries they don't need. He's still loaded. Kid knows the value of savings.
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good to see some schools offer this as part of their curriculum, however school isn't the only place kids can learn.
in high school, we learned to balance a checkbook, write a check, make a basic budget...but my father is the one who emphasized the importance of applied finance concepts in day to day life. there are some great, fast reads out there to break ground on young minds for these important topics. i'll also give a plug to the motley fool (fool.com) for great posts on the big hitter topics in finance: credit/debt, saving, budgeting, and investing.
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