Do you think our grade schools should have mandatory classes that teach the fundamentals of finance?

Question

If your answer is yes, what aspects of finance should be covered? At what grade levels should these classes be taught?

Answer 1

They use to teach this stuff in schools. I dont' know why they don't now.

Ask a teacher this question and they will say

IT"S THE PARENTS JOB

Answer 2

Absolutely. I teach at a college, and personal finance one of the survival skills many of my students lack. They need to know more about living on a budget, avoiding impulse purchases, keeping good financial records, utilizing financial aid and distinguishing between necessary and unnecessary debt.

I think a course like this could only work in junior or senior year, when many kids are already beginning to work and use their own money and thinking about how they're going to get through college. Any younger than that and they're not really going to understand the implications of their actions or why financial responsibility is important. But there could be some hints toward this sort of curriculum in the earlier years: for example, I learned to balance a checkbook as an activity in junior high math.

Answer 3

Hm, this is an interesting question!

I think that all people should know about the fundamentals of finance: why fixed interest rates are good, why it's important to know what the interest rate is on your loan or credit card bill, and how to write checks and budget. All of these are important life skills! This is especially evident with the current implosion of the housing market which is due to the fact that people didn't always understand the loans that they were getting into.

The concern I have with your question, however, is not the necessity of finance curriculum, but when it is taught. Grade school students don't take out loans, and they won't start taking out loans for years to come. The information isn't relevant or practical, so it is unlikely that they will remember it. Having classes like this in highschool, or even middle school seem much more reasonable than elementary school. The little guys are working on counting money and making change, which, when you think about it, really is a fundamental element of finance. In a sense, they are already getting fundamentals as early as first and second grade. Kids are learning the foundations of the mathematics behind interest rates and budgets in grades 3-5. All of these are building blocks toward understanding the intricacies of interest rates and loans and such, which should be taught at a later time, like high school.

So, in short, should it be taught? Yes, but not until middle/high school.

Answer 4

i think even the youngest children can be taught that saving is important and the value of money.

i think once kids get to percentages and fractions, they could do a lesson on interest.

Answer 5

Most schools have a hard time teaching the basics like reading and math.  Having said that a brief portion of a high school class in life skills would be a good idea!

Answer 6

heck yes , should beging in 4th grade.

Answer 7

I guess... they should know how to write checks and stuff.

Answer 8

no.  i think our grade schools need to get back to the basics of education: reading, writing and arithmatic.  we have lost sight of the basics and a lot of our kids are inferior students because of it.  get back to basics first.

Answer 9

yes even from the beginning can be yaught how ti plan s[ending I have $x and wanr z and q what wiuls they cost