Comments on: Should Personal Finance be taught in School?

By: tjkenny13

tjkenny13 — Sat, 21 Apr 2007 21:44:25 +0000

Personal finance should be a mini-course taught outside regular class time. Needs to be about four weeks long and contain eight learning packets (two packets per 5 days). Packets should contain exercises that are hands-on experiences of the real McCoy. Suggested titles: (1) balancing a bank checking and or savings account with a packet of real checks, a real balance sheet,
and at least three errors spanning 90 days;
(2) using credit cards and reviewing law cases that are examples of unprotected credit resources and bankruptcy; (3) developing a personal budget using MONEY 2007; (4)setting up a personal property inventory using a spread sheet; (5) conducting a review of personal insurance needs (life, health, auto, and property, and especially LIABILITY) with emphasis on how to leave MOM and Dad’s domain: especially the RENTER’S INSURANCE promise to the individual who’s standing in the rain looking at his burning, water-soaked apartment building; (6) entering a marriage agreement with all the major topics causing an early divorce covered; (7) reviewing the principals of SAVING MONEY and INVESTING IN THE STOCK/BOND MARKETS; (8) planning for retirement and death.

By: diogenes

diogenes — Thu, 19 Apr 2007 02:40:28 +0000

Added in Technorati favs with pleasure.

By: Robin Bal

Robin Bal — Wed, 18 Apr 2007 20:08:10 +0000

Hi Jag,

Unfortunately a lot of us learn the hard way as to what it takes to earn money, spending is so easy especially if you havnt earned it.

Your comments are always an extension to my post, thanks mate.

Cheers.

By: Jag

Jag — Wed, 18 Apr 2007 19:33:18 +0000

To the question, I will say a resounding YES.

Kids should be taught personal finance at an early age. They will learn to appreciate how easy is it to spend money and how hard is it to earn it.

A good grounding in personal finance will only benefit them in future, as they grow up to be financially responsible adults.

Good message you are sending out here, as always!

Cheers,
Jag

By: Personal Finance in school? at The CanningBranch

Personal Finance in school? at The CanningBranch — Wed, 18 Apr 2007 12:34:08 +0000

[...] at Fortune Watch, there is a discussion about whether personal finance should be taught in High School. I think that offering a personal [...]

By: Robin Bal

Robin Bal — Wed, 18 Apr 2007 09:46:14 +0000

Thanks for your visit and comment. I liked what you said “use credit as a tool than a crutch”. I am off to check your post on Credit Ability blog, didn’t know you had two, I am only familiar with Manila Mom.

Cheers mate, take care and GOD bless.

By: Manila Mom

Manila Mom — Wed, 18 Apr 2007 09:27:51 +0000

I agree a hundred percent. In fact, I had a related post on my Credit Ability blog. With a solid basic personal finance foundation,kids will grow up knowing how to use credit as a tool rather than a crutch. They may find that they could even do without it most of the time.

By: Robin Bal

Robin Bal — Wed, 18 Apr 2007 05:48:05 +0000

Hey Jon,

I am with you 100% on that mate, personal finance should be taught in school. I may not have had to learn all about personal finance the hard way, if it was taught in school. Good comment mate, an extension to the post itself.

Take care and cheers buddy.

By: Jonathan-C. Phillips

Jonathan-C. Phillips — Wed, 18 Apr 2007 03:34:08 +0000

To answer the question in the title of your post, i’d answer: yes, it should be taught in school! definitely! When i think about all the people i know i can hardly find one that knows how to manage their finances correctly. Even myself, i read books and books on money management and personal finances and stuff. Didn’t learn that in school. Well with had, in high-school, a class called “economic education”, but i have never used anything i’ve learned from taking that course in “real life”

Excellent post Robin!

By: Robin Bal

Robin Bal — Wed, 18 Apr 2007 03:30:48 +0000

Hi Reggie,

I agree “The Insider’s Guide to Saving Money” must be a great a great book, however it might be a little difficult to get a schoolboy to read and understand it. Thanks for your comment and passing by.

Cheers.