Comments on: Personal finance courses should be required

By: StopBuyingCrap.com »

StopBuyingCrap.com » — Thu, 13 Oct 2005 10:37:38 +0000

[...] So yeah I’m taking this personal finance class to see what I can learn. Unfortunately I don’t think I’m getting much out of the class. The class doesn’t really have a lot of depth, and none of the test requires much reading or studying at all. Basically I’m not being forced to learn more. So to get more out of the class, I’ve decided to type up notes on as much of the chapters as I can, and share ‘em here. [...]

By: Cap

Cap — Sun, 28 Aug 2005 11:25:32 +0000

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.

By: johnbjr

johnbjr — Sat, 27 Aug 2005 19:19:43 +0000

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

By: mbhunter

mbhunter — Fri, 26 Aug 2005 18:44:51 +0000

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.

By: Sacha Chua

Sacha Chua — Fri, 26 Aug 2005 12:40:20 +0000

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...