Personal finance courses should be taught in high school
University fees, living expenses, and school supplies usually require a budget to balance, which many students have never been taught how to do. Personal finance courses should be taught in high school so that people can be prepared and financially savvy as they enter college as well as the job market.
While many high schools across the United States require an economics course for students to graduate, these courses generally do not cover personal finance.
According to the description of the AP by the College Board Macroeconomics Of course, the class is described as a general overview of the US economy, which analyzes the role of government and other strategies used by the Fed to manage economic markets.
Microeconomics focuses more on the individual market sectors found in the US industry. The problem is that none of these courses teaches students how basic economic concepts will affect their individual lives when they start working and enter college; it only introduces them to the functions of economy in general.
Even if the students take a normal course in economics, these courses often don’t teach personal finance or budgeting, just basic economic concepts like AP courses.
A to study by the Council for Economic Education found that only 21 states across the United States teach a separate personal finance class as a graduation requirement.
Because public schools don’t tend to teach personal finance, the only way most high school students learn about budgeting is if their parents teach them. But it is ineffective to hope that parents will teach their children these complicated subjects. Plus, many parents don’t even know how to budget or manage their money.
Financial embarrassment and financial mistakes can often deter parents from having a conversation about budgeting and finances with their children, says a financial education teacher Monica Eaton. Because it’s not taught in school or by parents, many high school students don’t know how to manage their personal finances when they graduate.
Once a person turns 18 and graduates from high school, they are considered an adult. Although their family may still support them financially after this, it is important to know how to manage money.
Lots of high school kids actually to want to learn more about personal finance and a lack of financial knowledge is approximately 40 percent wealth inequality in retirement. Teaching people how to manage money can improve their future.
A personal finance class should be required for graduation in all US public high schools. This can help alleviate financial illiteracy among young adults and improve their chances of upward mobility and success.
JJ Caceres is a freshman in political science who can be reached at [email protected]