Who should be teaching financial literacy to the kids?

[Secure Da Bag]

Yes, I pulled this from TLR. But it's a good question.

There was a time when high schools taught home economics, civics, and certification in a trade. Now not so much.

Should high schools be required to teach financial literacy of some sort? Or should that be on the parents?

Personally, I think the schools should be teaching it. But what are your thoughts?

 

[Shogun]

Both

 

[DEAD7]

Both is the obvious answer...
Our public school system does an embarrassingly bad job of preparing our young for todays economy... its amazing how many supporters it has.

 

[Yapdatfool]

I'm actually on the fence here. School can only teach so much economics to children.

Real life examples go way further than any book can. IMO Family have much more responsibility for that than school will. Of course, my dad was very instrumental in my finances. Mom too recently.
Sitting down and item lining expenses and shyt can be very beneficial to kids but it should be real and not a scenario from a classroom.

 

[acri1]

School mainly.

The problem with expecting parents to do so is that most aren't financially literate themselves. So you'd end up with mostly only well-off kids learning financial literacy.

 

[ColdSlither]

It should be both. I only say that because if my mom taught me anything about financial literacy, I would be screwed. In that situation it would be very helpful is good economics was taught in schools.

 

[Shogun]

Both is the obvious answer...
Our public school system does an embarrassingly bad job of preparing our young for todays economy... its amazing how many supporters it has.

Problem is,today's economy looks nothing like the economy of ten years ago, and nothing like the economy ten years from now. Predicting the future has proven rather difficult. The best you can do is teach kids to be independent and proactive...which falls on parents more than anything.

 

[Sauce Dab]

Going by this thread it looks like nobody really knows what they're talking about so nobody should teach it and that's why we're stuck

 

[the cac mamba]

im all for teaching it, but what exactly does that mean?

dont buy shyt you cant afford? this is how credit cards work and they fukk you over? i cant imagine reaching adulthood without any common sense when it comes to spending money you don't have

 

[ill]

Basic financial literacy should be taught in high school. Taxes. Tipping. Budgeting. Saving and balancing checkbooks etc. basic theories of retirement plans etc.

It will give people a solid foundation to stand on and work from. Most adults are fukking clueless about finance and it’s really not a hard topic to grasp.

 

[DEAD7]

Problem is,today's economy looks nothing like the economy of ten years ago, and nothing like the economy ten years from now. Predicting the future has proven rather difficult. The best you can do is teach kids to be independent and proactive...which falls on parents more than anything.

I’d like to see a more nimble education system... one where curriculum and such were decided as close to the ‘teacher level’ as possible.
There simply no way a federally, or state ran system will be able to quickly adapt to its various student bodies, local economies, etc.

Unfortunately the ‘federally run everything’ crowd is tone deaf to anything other than expanding federal oversight.

 

[MMS]

Parents

but they dont know either

its funny because have you ever noticed there are peoplle waiting to teach you about communism and socialism but god forbid anyone actually explains Capitalism to their kids/teens

 

[acri1]

im all for teaching it, but what exactly does that mean?

dont buy shyt you cant afford? this is how credit cards work and they fukk you over? i cant imagine reaching adulthood without any common sense when it comes to spending money you don't have

Or you know, how to do your taxes...how to invest in stocks and mutual funds...what to look for if you decide to buy/lease a house or car...how to plan for retirement...


All that could be taught in school and would probably be helpful for most. But maybe that's just big govt babying people..

 

[the cac mamba]

Or you know, how to do your taxes...how to invest in stocks and mutual funds...what to look for if you decide to buy/lease a house or car...how to plan for retirement...


All that could be taught in school and would probably be helpful for most. But maybe that's just big govt babying people..

at teaching that shyt in a class in school. how to invest in stocks? planning for retirement?

doing your taxes on turbo tax is about the easiest fukkin thing on the planet, you dont need a class for that. what to look for on car loans and houses is a good idea but these fukkin kids are gonna be 17, they arent looking at houses for another decade after high school

the only thing they really need a class on is what you're getting yourself into when you sign up for college loans. THAT should be a crash course over the space of a month, everywhere

 

[88m3]

Parents probably but I see what you guys are saying

I may have learned somethings in middle school/high school but I can't remember anything specifically


"financial literacy" is kinda broad too, I studied business in college and it didn't really go into a lot of things I see people complain about in threads like this


A lot of things you should really be learning yourself as soon as you're old enough to handle money you're part of the economy after all. I had my first job at 13 or 14 and already knew and was learning a lot by then...