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
Some high students may not see the value in financial literacy education, and may think that it is a waste of time. Many may think that they know about finance by watching their parents pay bills and by managing a checking and saving account. But what they don’t know is that there is a lot 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
Once high school ends, most students progress to college after a year or two from graduation. Due to all of the expenses for textbooks and etc., the student might realize that they don’t comprehend what to conserve or spend their money on to get through their years of college which will leave them clueless on what to do next. With situations like this that might occur, all high school students should take a financial literacy class as part of the mandatory course in order to get a diploma. With a numerous amount of students not having enough knowledge about how to manage their money carefully, presumably they’ll have trouble living their life as an adult. Taking a financial literacy class would help students stay out of debt, they’ll be prepared for their future, and they would recognize the discrepancies between wants and needs.
I think it is important for students to learn about this topic because when students are new on campus, they tend to loose more money due to poor choices. College students need to learn how to use their money wisely since they have to pay for tuition, books, clothes and
“Horace Mann firmly believed in the utility of education to improve society and humanity” (Groen, 2008). Horace Mann said "Education prevents being poor”. As true as this quote may be, there is also a strong relationship between our debt to income ratio from the amount of loans we accrue while educating ourselves and the income we earn to repay the debt. Taking steps to educate before the problem gets worse is very important. Financial Management programs should be just as important as the other curriculums that are a required for graduation. Every high school students should be taught financial education regardless of sex, gender, color or race. One of the greatest barriers to financial literacy is overcoming student’s fear of borrowing. They should be taught how to make responsible choices financially. Some students are afraid to get into too much debt; therefore they prefer not to pursue higher education. Others worry about credit cards without the proper knowledge on how it works. This program will help relieve those fears and teach the proper ways to utilize money respon...
I think that making students go to personal finance classes during high school is a good thing. It educates younger people on how to manage their money and how to make purchases and that’s just a start. It will teach you how to build wealth and set a good foundation for the future.
Most kids that have graduated high school have never been educated on the subject of personal finance, so they don’t know things like how to pay bills, or even how to do something as simple as applying for a job. According to a family friend of mine, Ron Hart; who happens to also be an award-wining author and TV/radio commentator, believes that students in high school don’t learn anything about how to get a job or get prepared financially. He states that, “ Students should prepare for a job. Maybe, instead of taking a fifth field trip to the Trail of Tears site, do one to learn about real jobs in an area they might want.” Hart believes that most basic high schools aren’t teaching students how to become financially stable for their future, which can cause major issues. He claims that “few schools teach about the value of hard work, ingenuity, gumption and entrepreneurship. Those lessons are as rare as Donald Trump bumper stickers in the faculty parking lot.” Hart also goes on to talk about how high school does not prepare you for life the same way college will. There are so many more lessons to learn there that people are missing out on. College is very important due to the fact that it will teach students more skills about finance and job seeking that most high schools don’t. In college, kids will learn how to save and budget their money, pay for their own expenses, and prioritize their needs verses their wants. Learning financial responsibility is also something that kids will carry with them throughout their jobs and their life. Having more freedom to understand the concepts of person finance will allow students to make mature decisions while easing their way into real world
As young people begin their transition into university life there is reason to suggest that the lack of financial literacy provided through public or private education has caused an increase in debt for the demographic. However, credit card debt is not a new social issue and does not find its origin with college students. Debt among Americans has steadily grown as more people rely on credit cards. These habits have provided an example to younger generations, which has shaped how money is managed. Given that money is often viewed as promoting security, status, and power many issues arise over debt specifically related to newer spenders.
Economic growth will boost employment opportunities which in turn will create increased economic activities that will result in higher GDP and increased stock prices. As economic growth improves, flat commodity price and a moderate increase in wages and consumer spending will generate a small gain in global inflation.
Public education could have done a better job promoting what happens at 17 or 18 when graduating. We were briefly advised to go to college or go into the workforce to become employees. As students, we had been told college makes you more money, and that we were all encouraged to apply. I doubted the majority of students took the responsibility to look at costs of college, tuition, and housing and understand the loans and how long it would take to pay them off. It felt that we hadn’t been taught the value of money, only that we needed to make a lot of it. I had been fortunate for working in a bank my high school years that I had understood more than others about loans, rates, mortgages, and credit cards. The financial aspect of life after high school was rarely brought
To start, the cost of college tuition is ridiculous. For example, the author states,” paying off her $120,000 in student debt, she is already working two restaurant jobs and will soon give up her apartment here to live with her parents- Ms. Griffith, 23, wouldn’t seem a perfect financial fit for a college that costs heavily $50,000 a year,”(Martin and Lehren 4) Thus, students are working extremely hard to pay off their monthly bills. For instance, the author exclaims,” I knew private school would cost a lot of money. But when i graduate, i'm going to owe like $900 a month.”(Martin and Lehren 5) As a result, teens will
Being successful at budgeting our personal finances is not strength within our household, and I often find myself nervous thinking about our cash flow. I don’t recall having conversations with my parents concerning finances; I only remember learning to balance a checkbook while in high school. Considering that most Americans will have the need to create a budget and manage their finances at one point of their adult life, I feel that a series of personal finance classes should be a part of a high school education. In these tough economic times, I’ve learned that having a handle on our personal finances is not a luxury – it’s a requirement. Therefore, making money while effectively managing and tracking how you spend it is closely related to stress levels and living a comfortable life.
One might say there is a strong argument for the requirement of financial literacy for students in America. Americans continue to have increased balances on their credit cards as well as show a continued increase in bankruptcy filings according to statistics. Even the “baby boomer” generation is no longer exempt from financial hardships, as their generation has recently taken the title of “Fastest Growing Bankruptcy Demographic” from the 25 – 34 year olds (Linfield, 2011). Would it not make sense to say that Americans need to learn how to budget and borrow more wisely? Would not the best place to start be in schools? Well, the answer to that question is not a simple one.
Students should be required to take a personal finance in high school to further there education with financial skills.Many students could benefit from the class if they pay attention.Annamaria Lusardia There are 34 states that include personal finance within there curriculum upsaid“we need to teach the basics of economics and finances so people can make financial decisions in a changing world.” There is only 13 states that require students to take a personal finance course or include the subject in a economics course
...ial literacy, encouraging independent thinking, and reinforcing good habits. Building financial literacy in children while they are young gives them a chance to use and begin to understand money for a longer period of time. Therefore, giving them a better understanding of it when they are older and, in a way, giving them a head start for being financially responsible as adults. Encouraging independent thinking will give adolescents a chance to think for themselves even if it is small decisions at first. Because they will most likely value their money and not want to give it away for just anything, their peers will have less of an influence on their decisions. You, as a parent, can reinforce good habits like self-discipline, setting short and long term goals, and learning and practicing good work ethic. Nagging all the time has got to stop. Set up an allowance system.
about teens) is unbelievably irresponsible. Once they start going into debt, it can be difficult to
Many students in grade school don’t obtain money very often because they do not have a steady income, so they are prone to spend the money they get. For example, if a student gets money for a holiday, the first thing that comes to mind is to spend it on something they want because they are not used to having money. They don’t know the next time they will get more money so they don’t see the importance of saving. Since there would be a constant income a student will see the effect of saving because their amount of money would constantly be increasing which will motivate them to keep saving. If students learn how to save while they are younger they will be more successful in life, and they will also have that money to use when they graduate.