My $60 textbook

I’m taking an intro personal finance course for this semester as an elective. It’s rather strange, but unless I’m in a finance undergrad program, this course is not required at all. It’s not even required for my business program - you would think managing your own money is important (for any undergrad study).

So I’m looking at these general education requirements within any bachelor degree. You got some math, some English, some history, some science, and some economics; but no where is there a personal finance course required. I’m curious if there are any colleges or universities out there that require a personal finance course for any of their undergrad programs. Isn’t a basic thing such as learning how to secure your financial future important?

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5 Responses to “Personal finance courses should be required”

1. Sacha Chua Says:
   August 26th, 2005 at 5:40 am

   I know! And it’s not just personal finance, either. I think everyone should formally take up home economics. It’s hard figuring out life for the first time…

2. mbhunter Says:
   August 26th, 2005 at 11:44 am

   Either have courses in personal finance or integrate it into the math courses somehow:

   “How much interest would you pay at 18% APY compounded monthly if you paid the minimum payment (2% of balance) on a $4,000 credit card debt? How long would it take you to pay it off?” My guess is that would deter at least a few people from racking up credit card debt.

   I learned how to compute simple and compound interest (for savings account) in middle school. We didn’t deal with debt repayment though.

3. johnbjr Says:
   August 27th, 2005 at 12:19 pm

   I think personal finance should be part something that is taught in highschool. Most teens get into financial trouble right out of highschool.

4. Cap Says:
   August 28th, 2005 at 4:25 am

   sacha: exactly. there’s a lot we’re missing in our formal education.

   mbhunter: lol, I’m pretty sure that would work.. but the problem is, a lot of people will ignore that because for whatever reason, a lot of us (me included) don’t like word problems!

   johnbjr: yeah I agree, a required course for seniors would do a lot of good. especially if they can approach it in an understanding way.. not throw bunch of jargon at them, but give examples that can be related to.

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