Trending Now :

Re-Drafting the 2023 IPO Class The Interest-Free Installments Economy FICO Scoring Models: Explained Fed Holds Off on Rate Hike Rise of the Global Middle Class: Opportunities and Challenges Protect Yourself from Financial Scams Money Motivators Mortgage Rate Buydown What Does the Hot Inflation Report Mean for the Housing Market How Do You Build Wealth: Invest in Yourself Times Up for Programmed Money Biggest Financial Crimes: Countrywide Quantitative Tightening, Inflation, & More The Stock Market Is On Sale Investors Need to Netflix and Chill Credit Card Fixed-Interest Loans: Explained Are You Money Smart? Build Your Credit for Free Filing Your Taxes in 2022 Credit Cards that Offer 2% Cashback on All Purchases Navient Ordered to Cancel Student Loans U.S. Mortgage Interest Rates Soaring Two Big Banks Cut Overdraft Fees 2022 IPO DRAFT CLASS: Ranking the Top 10 Prospects Re-Drafting the 2021 IPO Draft All You Need to Know about Buy Now Pay Later companies Credit Card Sign-Up Bonus or SUB The Best Credit Card for the Middle-Class Make An All-cash Offer with No Cash Capitalism Always Ignores Politics All You Need to Know about the Financial crisis of 2007-2008 American Families Face Serious Rent Burden Savings Is An Expense You Can’t Build Generational Wealth If You Are Broke IT’S OFFICIAL: Robinhood is a Meme Stock All You Need to Know About Biden Mortgage Modifications & Payment Reductions Apple Card 2nd Year Anniversary: Should You Get It Now Wells Fargo to Pull Customers Personal Lines of Credit The Rise of Individual Investors The US Housing Market Is Booming. Is a Crash Ahead? Financial Literacy: How to Be Smart with Your Money Non-Fungible Token (NFT):EXPLAINED SKYROCKETED CEO PAY & LONG LINES AT FOOD BANKS Amazon Workers Want to Unionize Another Major City Piloted Universal Basic Income The New Bubble: SPACs SUBMIT YOUR PPP ROUND 2 APPLICATION BEFORE MARCH 31ST Robinhood-GameStop Hearing & Payment for Order Flow Guess Who’s Coming to Main Street Democratic Senators Say No to $15 Minimum Wage BEZOS OUT! President Biden Most Impressive Act Went Unnoticed: CFPB Biden $1.9 Trillion Stimulus Package 2021 IPO DRAFT CLASS: Ranking the Top 10 Prospects $25 Billion Emergency Rental Assistance NO, TESLA IS NOT WORTH MORE THAN TOYOTA, VOLKSWAGEN, HYUNDAI, GM, AND FORD PUT TOGETHER AMAZON TO HAND OUT ITS WORKERS $300 HOLIDAY BONUS Where Does the American Middle-class stand on Student Debt Relief? Joe Biden’s Economic Plan Explained 4 TYPES OF BAD CREDIT REPORTS AND HOW TO FIX THEM What Is the Proper Approach to Not Buy Too Much House? FISCAL STIMULUS PLANS STILL IN ACTION How to Pick Investments for Your 401(k) 10 Simple Ways to Manage Your Money Better All You Need to Know about Reverse Mortgage All You Need to Know about Wholesale Real Estate Credit card Teaser Rates AVERAGE CREDIT CARD INTEREST RATE SURGES TO 20.5 Percent Trump Signs 4 Executive Orders for Coronavirus Economic Relief The Worst American Economy in History WHY CREDIT CARDS MINIMUM PAYMENTS ARE SO LOW? 10 BIGGEST COMPANIES IN AMERICA AND WHO OWNS THEM White House Wants to End the Extra $600-A-Week Unemployment  10 Countries That Penalize Savers FEWER CREDIT CARD BALANCE-TRANSFER OFFERS ARE IN YOUR MAILBOX Private Payrolls and the Unemployment Rate SHOULD YOU BUY INTO THE HOUSING MARKET RESILIENCY? WILL WE GET A SECOND STIMULUS CHECK The Child Tax Credit and Earned Income Tax Credit THE RETURN OF BUSINESS CYCLES Should You Request a Participant Loan or an Early 401(k) Withdrawal? Homebuyers Should Not Worry about Strict Mortgage Borrowing Standards The Potential Unintended Consequences of Mortgage Forbearance All Business Owners Need to Know about the Paycheck Protection Program 10 MILLION UNEMPLOYMENT CLAIMS IN TWO WEEKS HOW WILL THE GLOBAL MIDDLE-CLASS RECOVER FROM A SECOND ECONOMIC RECESSION IN A DECADE? WILL U.S. CONSUMERS CONTINUE TO SPEND? HOW’S YOUR 401(k) PRESIDENT TRUMP SIGNS $2.2 TRILLION CORONAVIRUS STIMULUS BILL MIDDLE-CLASS NIGHTMARE: MORE THAN 3.3 AMERICAN FILED FOR UNEMPLOYMENT CLAIMS IN THE US LAST WEEK. LAWMAKERS AGREED ON $2 TRILLION CORONAVIRUS STIMULUS DEAL CORONAVIRUS STIMULUS PACKAGE FAILED AGAIN IN THE SENATE APRIL 15 (TAX DAY) DELAYED DEMOCRATS AND REPUBLICANS DIFFER ON HOW $2 TRILLION OF YOUR TAX MONEY SHOULD BE SPENT YOU CAN DELAY MORTGAGE PAYMENTS UP TO 1 YEAR, BUT SHOULD YOU? 110 Million American Consumers Could See Their Credit Scores Change The Middle-Class Needs to Support Elizabeth Warren’s Bankruptcy Plan The SECURE Act & Stretch IRA: 5 Key Retirement Changes 5 Best Blue-chip Dividend Stocks for 2020 9 Common Bankruptcy Myths 401(K) BLUNDERS TO AVOID Government Policies Built and Destroyed America’s Middle-Class & JCPenney Elijah E. Cummings, Esteemed Democrat Who Led the Impeachment Inquiry into Trump, Dies at 68 12 Candidates One-stage: Who Championed Middle-Class Policies the Most WeWork: From Roadshow to Bankruptcy Stand with the United Auto Workers Formal impeachment Inquiry into President Donald Trump America Is Still a Middle-Class Country SAUDI OIL ATTACKS: All YOU NEED TO KNOW THE FEDERAL RESERVE ABOLISHED BUSINESS CYCLES AUTO WORKERS GO ON STRIKE Saudi Attacks Send Oil Prices Spiraling REMEMBERING 9/11 What to Expect from the 116th Congress after Their August Recess Should You Accept the Pain of Trump’s Trade War? 45th G7 Summit-President Macron Leads Summit No More Upper-Class Tax Cuts Mr. President! APPLE CARD IS HERE-SHOULD YOU APPLY? THE GIG ECONOMY CREATES A PERMANENT UNDERCLASS 5 REASONS IT’S SO HARD FOR LOW-INCOME INDIVIDUALS TO MOVE UP TO THE MIDDLE CLASS ARE YOU PART OF THE MIDDLE CLASS? USE THIS CALCULATOR TO FIND OUT? WELLS FARGO IS A DANGER TO THE MIDDLE CLASS The Financialization of Everything Is Killing the Middle Class
Personal Finance Education
American Middle Class

A Case for Mandatory Personal Finance Education in Public Schools

The estimated reading time for this post is 464 seconds

In America, there is a massive knowledge gap America when it comes to personal finance. This article will explore the current state of financial education in America and propose a nationwide, mandatory course on personal finance.

According to Investopedia, Personal finance is defined as “the aspects of money management concerned with how you earn income, save, spend and invest your money.   If you think about that definition in its totality, it’s pretty depressing: we aren’t teaching people to manage their money; instead, we expect them to learn everything independently. That means complete ignorance regarding budgeting and spending; total unawareness of interest rates and credit cards. Combine that lack of understanding of an increasingly electronic world for any information, and you get a population unaware of even the basics.

If you think about it more deeply, this isn’t just an American problem; instead, it’s a global problem. Think of all the cultures of the world that exist today. Now ask yourself how many of them provide their citizens with any personal finance education when they are children. If you guessed “few,” then you are correct! Whether in America or elsewhere in the world, most people are expected to learn everything on their own through trial and error. This approach creates problems for individuals when they are entirely unaware of negative interest rates on credit cards or why payday loans seem like a good idea until in life (not to mention the insane interest rates on those loans). This ignorance isn’t just a hindrance for individuals either; it is a problem for everyone. If we create generations of people who don’t understand how to manage money, guess what? We make generations of people who will spend as much as they have and borrow as much as possible because that sounds like a beautiful idea. The result? A massive load of debt that causes economic collapse… again.

Mandatory Personal Finance Education in Public Schools

To correct this issue, I propose a nationwide course on personal finance should be instituted in all public schools from first grade through twelfth grade. With the increasing popularity of homeschooling and other alternative educational programs, I think it’s essential to include these students too, so they have an equal opportunity at learning this information.

This proposal comes with several benefits. First, the simple act of teaching students about personal finance will help them understand money management. After all, this course would be just one more event that they can learn from to better prepare for their future lives. Second, if every student were given a basic understanding of handling credit cards and loans, there would be fewer defaults on these types of transactions because everyone would have an idea of what interest rates are like. Finally, it’s important to note that this course wouldn’t just benefit students financially; instead, it is also crucial for their social development! If kids are taught early on about the benefits of saving versus spending, they will be less irresponsible adults in the future.

This proposal faces a few major obstacles, though. First, there is the issue of cost: who will pay for this program? Will it come from local governments, or will other financial institutions help fund this initiative? Second, what kind of curriculum should be implemented to ensure that students across America receive a standardized education on money management? Finally, how can we ensure teachers have the training to teach these courses properly, maximizing their effectiveness and not leaving students confused? These questions could be solved through partnerships with outside organizations and giving schools more money to train their staff properly. In the end, the benefits outweigh the costs for this proposal, so each question must be carefully considered by policymakers to decide if this is indeed an initiative we want to undertake.

This initiative is significant for personal reasons, not just political or economic ones. I am a recent college graduate who was never taught anything about credit cards or loans when I was in school. My parents were unsure how best to handle these types of transactions and didn’t feel confident enough to teach me everything I would need to know (or they didn’t know themselves). As a result, my first encounter with credit cards and loans was when I started applying for jobs, and companies saw my lack of knowledge on the matter as a sign that I would default on payments. Because of their financial ignorance, I had some trouble finding work even though there were other candidates out there who were equally qualified (if not more so) who didn’t have a problem with their credit score… and you wonder where the American dream went?

To avoid this incredibly embarrassing situation from happening again, I believe students must be taught about these financial basics. In addition, if we can include information on entrepreneurship in these courses, too, then maybe we can encourage more people to take the risk of starting a business. After all, it’s almost impossible to get funding for your startup idea without knowing anything about loans and how they work! With some extensive knowledge of personal finance, anyone would significantly improve their economic future.

I know what you’re thinking: “do we need another class?” The answer is yes; at the very least, more information provides people with more options for handling their money. If some people want to take out loans while others prefer to use credit cards, more knowledge will allow them to make the best decisions. Plus, these types of courses would benefit anyone who wants to better manage their financial situation.

There are already several controversial topics in our nation’s courthouses right now, so why not add one additional issue? Besides, what makes this proposal any different from other areas of study? A student could learn about government without ever passing through the courtroom doors. However, they still choose to take that course because it’s interesting, and there are benefits associated with understanding the legal system. I believe the same is true for my proposal; everyone would learn something about personal finance even if they don’t intend to pursue it as a career.

Every child has dreams and aspirations of what they want to accomplish in life; no matter how big or small those dreams are, this initiative will ensure that students can achieve them quickly. Ultimately, I think that every public school student should be required to take at least one course on personal finance. If our students are better prepared to manage their money, they will succeed at whatever goal they set for themselves.

There is a lot of evidence to support the idea that personal finance courses will increase a person’s likelihood of success. A study published in the American Economic Review found that people with some financial knowledge were more likely to own homes and cars and have higher credit scores. Those who had no education on finances were less likely to run their own business or buy a home than those who had been educated! Additionally, they found this connection between money management skills and future success even accurate among low-income groups.

This initiative would make it easier for Americans to move up the social ladder by encouraging entrepreneurship in terms of economic benefits. This leads me to my next point; not only does this topic benefit our American citizens, but our economy as well. With more people starting their businesses, the country’s GDP would rise considerably, creating more jobs for everyone. More jobs mean more opportunities for the younger generation to find employment, which brings me back to my original point of why this idea would be beneficial. Personal finance education would enable anyone to increase their economic future without relying on someone else or taking out loans.

Looking at the many advantages of including personal finance courses in our public schools, I believe there should be a change in how we are currently educating our students. It seems ridiculous that after nearly 20 years of compulsory schooling, young adults are still not capable of making sound financial decisions. Teaching children about money management while still in school will only lead to positive consequences later. If you consider yourself an American patriot, you should support this initiative because it’s best for our children and the nation’s economy.

While we should adapt this same system to the other countries, I recognize that there are some differences between different systems and ours, so it might not be as relevant to them. Before you decide if this is a good idea or not, I encourage you to research how personal finance education works in your country or state because that will significantly influence your verdict on whether or not you agree with me.


In conclusion, requiring students to take courses on personal finance is necessary given the benefits it would bring about for everyone involved – students, parents, teachers, schools themselves – even the government! This knowledge will empower young adults to make better financial decisions, ultimately leading to a better future. Consequently, this is why I believe everyone should have to take at least one class on personal finance before they graduate high school.

Continue Reading
Click to comment

Leave Comment

Stock News / Jan 02, 2024

Re-Drafting the 2023 IPO Class

The estimated reading time for this post is 147 seconds The Initial Public Offering (IPO)...

Stock News / Dec 29, 2023

2024 IPO Draft Class

The estimated reading time for this post is 151 seconds 2024 IPO Draft Class: Ranking...

Stock News / Dec 22, 2023

Build Wealth with Boring Investments

The estimated reading time for this post is 314 seconds Due to their boredom, long-term,...