Developing A Foundation Of Personal Finance Essay

Developing A Foundation Of Personal Finance Essay

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As an Advance accounting student here at Navajo Technical University in Crownpoint, NM, accounting is a major part in our daily lives and so is being in debt. On the Navajo reservation majority of the population are in debt and that is due to the lack of financial education provided. As being a parent, wondering about my children’s future and would like for them to be debt free in the future. Developing a foundation of personal finance in high school would be very helpful. Second, exposing teens to strategies to better themselves financially is a 21st century survival skill and last, opening the minds of students and having them to make inform decisions on finance at an early age would help them in their future. An overwhelming majority of teens—87%-- admit they don’t know much about personal finance, according to a new study by ING Direct. All high school students should take a personal finance course.
The first reason on why high school students should have developed a foundation of Personal Finance in high school. Teens deserve to be introduced to complicated financial concepts by caring teachers charged with preparing them to make wise and informed financial decisions. If we teach teens the skills they need today to manage their money tomorrow, we stand to improve their lives, our lives as parents and teachers and the economy of our country.
Majority of the students in Crownpoint High School are not provided with any foundations in Personal Finance, which would help with students with their personal finances as they pursue their goals on or outside the Navajo Reservation.
As for example, my teen daughter attended Aztec High School during her freshman and sophomore year and as provided with Personal Finance classes start...

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...more to finance and many of the high school students have already been embedded with good or bad spending habits. Having the students go through the courses at a young age and to begin training their minds on the aspects of finance. Would help a great deal in their life and to break the bad spending habits or to improve on good spending habits.
Students need to learn the difference between the wants and their basic needs. Spending on their wants is a part of bad habits, learning to just buy what they need and learning to save. Learning to save towards goals, whether that means achieving wealth, traveling, early retirement, or being debt free.
The goal isn’t to deprive yourself instead; you want to focus on the big picture of your goals. Experts all agree that it is crucial for students to learn the financial education for success in careers and independent living.

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