Personal Finance By Lauren E. Willis Summary

The general statement made by Lauren E.Willis in her work, “Should College Students Be Prepared to Take a Course in Personal Finance? No: Courses Will Miss the Real Issues”, is that personal-finance courses are ineffective in helping the students making wise decisions. More specifically, Willis argues that the information that students receive from courses is actually stereotyped and misleading, instead, federal regulations, and personal decision and experience are the fundamental solution in how to be financially success. She writes, “What’s more, even experts disagree about the right investment and retirement-savings strategies. Financial offerings change too quickly for regulators to keep up, never mind educators.” In this passage, Willis

Since the college students are ignorant and bold, serious financial hardship often in time is the most common result of their poor money management because of the wrong information that they are given. Moreover, Willis insists that federal regulation among the businesses is the essential solution that can promote financial success. She states, “The problem on the consumer side was too much trust in those selling mortgages and a lack of regulation to ensure that those selling mortgages could be trusted.” Willis claims that “a lack of regulation” is the reason why the students tend to make mistakes even after they have held enough knowledge about money management. When the students are prepared to make decisions, the quality of the services and products themselves are not secured for the students to be considered making a correct decision. Overall, the writer is trying to argue that taking personal-finance courses in college is unnecessary as up to this point where the lessons contain poor information about what business really is and how to be make correct decision in