They'd be horrified, knowing their potential victims might learn something about the deep hole they're considering jumping in.
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Should basic home finance be a requirement in school?
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I agree that basic life skills should be taught in high school. Balancing a checkbook is common sense. It's not difficult at all. It's basic addition and subtraction. If kids can't do this by the time they graduate, then we probably shouldn't be graduating them. That being said, I haven't balanced a checkbook for over 10 years. I just run a line of credit on my checking account. If I "bounce" a check, it's covered by the LOC, and I move money to pay off the LOC in a day or so. It has never cost me more than a couple bucks and that was an abnormally large amount that I left sitting for longer than normal. Usually, it costs me <$1. It's not worth the hassle to worry about balancing a checkbook anymore.
It would be good to teach kids about our extortion system... I mean, tax system, so that it can be changed for the better sooner rather than later. It's amazing, we revolted over a (3%?) tax on tea a "few" years ago and now we just let ourselves be extorted for far more and do nothing about it.
I learned the hard way with credit cards when I was young. I think I have taught my kids well in that arena. I doubt they'll make the same mistakes that I did.
It would be good to teach kids about our extortion system... I mean, tax system, so that it can be changed for the better sooner rather than later. It's amazing, we revolted over a (3%?) tax on tea a "few" years ago and now we just let ourselves be extorted for far more and do nothing about it.
I learned the hard way with credit cards when I was young. I think I have taught my kids well in that arena. I doubt they'll make the same mistakes that I did.
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Funny you mention the bold. We actually had a teacher in an AP Human Geography class ask the students to point on the US map where Texas was. You know about 40% of the kids couldn't. That's SO BAD! Which caused a little discussion with our superintendent last night. Just NOT acceptable in any HS class let alone an AP level class.
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I am trying to see if we can lower our Health/Physical Education by .5 credits to fit a .5 credit of personal finance/life skills class.
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This is the biggest argument. How to fit in this type of class. Especially, for the students that are jamming every AP and advanced level course available to be competitive on their transcripts. I do wonder if college advisors would look at a student taking a personal finance class as a benefit versus taking the calc 3 or AP US History Course when they have already taken so many other high-level classes. Would it make the student more rounded and possibly even more successful in college?
We had one student at our meeting last night that said she did take a business elective course that covered a small amount of personal finance, but it was during her Freshman year and she admitted to not really retaining the full information now in her senior year.
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As an AP Human Geography teacher, I feel this.
My brother teaches 9th grade general math along with Algebra. (Palm Beach County, FL) His general math class has always included checkbook balancing, stock market gaming (pick 10 stocks and see who does best over the year) and general budgeting. I don't see why all school systems don't have them. Teach simple finance so they can understand money and how to handle it.
Im going to say no. At some point the parents have to step up and take some responsibility for raising their child. Thats something that parents should be teaching their kids.
Its yet another example these days of parents who are too busy or too disinterested to raise their kids properly and then call them lazy or say, "thats millennials for ya" when they arent equipped to deal with life.
Its yet another example these days of parents who are too busy or too disinterested to raise their kids properly and then call them lazy or say, "thats millennials for ya" when they arent equipped to deal with life.
Luchnia
You will never conquer golf.
I may be wrong, but to me kids today simply are growing up without life skills and finance is one of them.
I will never forget the day I asked my dad for a car and he pointed over to a field near our house and said there is your car (grew up around farm community). You put the crop in that field, raise it, sell it, and then I will sign for your car when the money comes in the fall.
At the time, I was a bit angry as a young man expecting a handout, but what a lesson that taught me throughout my lifetime. It was a value lesson that today kids simply do not learn in school. Every purchase I make I consider it as wisely as I possibly can.
Another policy I have in life is if I don't have the cash to pay for it, I don't buy it - period! That has served me well too. Don't get me wrong. I am not implying that you cannot use other people's money, I am just stating that this is my policy.
I will never forget the day I asked my dad for a car and he pointed over to a field near our house and said there is your car (grew up around farm community). You put the crop in that field, raise it, sell it, and then I will sign for your car when the money comes in the fall.
At the time, I was a bit angry as a young man expecting a handout, but what a lesson that taught me throughout my lifetime. It was a value lesson that today kids simply do not learn in school. Every purchase I make I consider it as wisely as I possibly can.
Another policy I have in life is if I don't have the cash to pay for it, I don't buy it - period! That has served me well too. Don't get me wrong. I am not implying that you cannot use other people's money, I am just stating that this is my policy.
The basic problem as pointed out here, is that parents delegate the education of their child to the wishes of others. You want your child to have certain understandings....make it happen. My wife and I took exception to some of the curriculum for our young children.....So we brought em home and taught them. Our oldest was in 2nd grade when we decided to Home School. That was 1988 when homeschooling was somewhat in its infancy. We have 4 kids all in their 30's adults with spouses and our 10th grand child due in July. All are doing very well. I sat on school board too. It's easy to point fingers and say others should do.......NO, You want it done, do it yourself. Control what you can control.....Your kids.
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I agree 100%. Best thing I ever did for my oldest was making his buy his first car on his own. It wasn't as nice as his peers at school drove since we're likely in the bottom 25% around here in terms of income and many of the kids are simply given a car when they turn 16, but I'm sure he appreciates it much more because he worked for it and paid it off on his own. His younger brother and sister saw and now understand that they'll be doing the same thing.
putting aside your argument of balancing a check book (very get off my lawn...). I 100% agree. Maybe not to the advanced level of some of the items you mentioned but at least a MINIMUM level of personal finance literacy. Building a budget, monitoring and adjusting. Saving principles, and debt/credit impacts.So, our curriculum committee for my school district was this evening. I have a bit of a pet peeve about how many of our school’s graduates can create a computer program, write a sonnet, or speak three languages, but can’t simply balance a check book, have no idea the concept or property tax, or really understand how loans and credit affect their monthly income and buying power.
I am asking here as well. Should a basic home economic/finance class be mandatory education for all graduating HS students? I don’t know what college applications would think of a basic class such as this on their application would mean. You know everyone has to have 15 AP or IB classes now to be competitive. But, I do think this type of class would be much more helpful to a student over taking gym or a required art class. For my art students they can take both and drop a math.
More over I think there is a HUGE need for this in D1 college athletes. Its a complete shame that so many leave to large signing bonuses, but then many are broke before 30. Not fair to expect many kids to do this on their own and frankly many "adults" offering to help have their own agendas.
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In the district in which I coach, teach and live; we offer Career and Financial Management class (Below). Kids learn how to manage life, do their own taxes, how to purchase insurance (car, renters home, etc.), all elements of banking and intro to investing, among other things. My daughter took this as a Sophomore and it has really helped with her decision making in regards to college and career path. Outstanding course. In regard to what college admissions thinks about a class like this, when we sat down with the Major in charge of admissions at West Point and he saw the class, he asked about it (they asked about all the electives), and was impressed by the offering and said that it was the type of class that tells him a potential cadet possesses the real world information to successfully manage themselves independently, and more likely to stay enrolled.So, our curriculum committee for my school district was this evening. I have a bit of a pet peeve about how many of our school’s graduates can create a computer program, write a sonnet, or speak three languages, but can’t simply balance a check book, have no idea the concept or property tax, or really understand how loans and credit affect their monthly income and buying power.
I am asking here as well. Should a basic home economic/finance class be mandatory education for all graduating HS students? I don’t know what college applications would think of a basic class such as this on their application would mean. You know everyone has to have 15 AP or IB classes now to be competitive. But, I do think this type of class would be much more helpful to a student over taking gym or a required art class. For my art students they can take both and drop a math.
CAREER AND FINANCIAL MANAGEMENT R – 9675 Understanding income is the starting point of becoming financially independent. You will learn how to make personal and financial money-management decisions. Additionally, this class will give you the opportunity to discover how college and career choices affect future income. This is a very exciting and up-to-date "hands on" business class. You will be one step further toward becoming a winner! Topics covered in the half year course will include the following: - Career Exploration & Employment - College Planning - Understanding Earned Income on the job, Benefits & Taxes - Money Management/Insurance Coverage & Protection - Banking Procedures/Savings Options, Credit - Sources of Credit, reading and understanding credit card statements, and credit card scores - Understanding investments and the stock market Available to students in grades 9-12 Half year – .5 credit
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Interestingly this topic came back up today.
I had our curriculum meeting this past Tuesday and this discussion was on the agenda.
I don't disagree with the comment above that parents delegate too much of their children's education to the school system. However, not all parents are equipped properly to do what you are suggesting. Sure, there are a number of parents that could take their child out of school and home school them. I expect that would be a very minority of people. With either their work schedules or the fact they just don't have the capabilities themselves to properly teach. I could easily teach math and science probably up to an HS level. Yet, no way would I be strong enough to teach English, History, Art, or any music. I expect many parents would be in similar circumstances or believe very little of our education system that they can teach ALL courses as strongly as a professional teacher.
When it comes to personal finance, frankly many parents today don't understand the true effects of loans and credit cards. Plus, you have many in certain demographics that just will not be in the same situation as their children will be as their future unfolds. Plenty of first-time college students live in my area. Parents are blue-collar and sending their children to college is something they have strived for. Those same parents are not able to properly teach their children about all the facets of what is in store for college-bound students with financing.
We had the discussion with our math and business teachers and to each and every one of them, they agree that a personal finance class would be beneficial to our students. However, with the age-old question of how do you pay for this? Tax dollars are limited and in the world of school cuts and many in the public saying not one more dollar, adding courses like this becomes difficult. To me, in our community, this is a fight that I will be on the side of including a personal finance class as a requirement for our students.
The idea/ concept is prepare your child. You decided to have a child. Now fulfill that duty. Also, In the world of MY homeschooling OUR kids...We used many outside resources. Many homeschoolers gather together share their individual expertise. We hired tutors. We had a rocket scientist teach our kids trig and calc...Ha He retired from Rockwell as a designer of Patriot Missile. Sometimes it's better to rethink your outcomes based on two wage earners vs maybe one...Sometimes having a room of like minded people is maybe not bringing outside the box thinking.....
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I mean this in no way disrespectful if taken wrongly.
But, how many people do you really think can afford to have a Rocket Scientist retired from Rockwell tutor their homeschool children? That isn't really out of the box thinking. That is just you have resources available that most others in the world don't have. I had the finances to hire a tutor to help my boys with individual teaching during the SAT and ACT testing years. But, in general, this is not available to the masses. Hence, why we have a public school system.
The guy moved from Cali to CT and was a near minimum wage hire from a sheet at grocery store. What is available to the masses is that the parents take control of their child education and not leave it in the hands of misguided people who think they know better. Own your outcomes. Sadly, In todays society people prefer to point and complain.
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I need to find more retired Rocket Scientists from Rockwell that are willing to work for min wage. Can you talk to our teachers and ask them about working for min wage? We could hire a whole bunch more of the retired Rocket Scientists then. That dang system of misguided people, what are they thinking.
Want some out of the box thinking.....Engage with your local Home School Assoc.... Even 30 years ago the political crap spewed by the educational hierarchy was mind numbing. It's been a full generation of controlled education by the left. Look where it is. Misguided is the nice word.I need to find more retired Rocket Scientists from Rockwell that are willing to work for min wage. Can you talk to our teachers and ask them about working for min wage? We could hire a whole bunch more of the retired Rocket Scientists then. That dang system of misguided people, what are they thinking.
