Wednesday, March 28, 2007

Should Personal Finance Be A General Education Class?

Even at my young age, I can see the benefits of making personal finance a required course in both high school and college. This was the subject of an piece at the Daily Trojan college newspaper:

While a student can't earn a bachelor's degree from our fair university without taking courses in writing, global cultures and scientific inquiry, the essential subject of personal finance is totally absent from the curriculum. With all due respect to the academy, understanding how to manage money will be far more important to most upon graduation than understanding the sexual rituals of vanishing tribes in Papua New Guinea...

Some may argue that a school nicknamed the "University of Spoiled Children" wouldn't need to educate its students about money because they already have it; however, the problem with many spoiled children is that they've never known how to make it. With expenses reliably placed on parents' credit cards and the word "budget" absent from their vocabularies, students used to relying on an expense account while in school may face a rude awakening when they become independent.

I'm all for basic financial education for all and I hope that this isn't even a topic of discussion when I reach college age.

1 comment:

credit cards guru said...

It is absolutely obvious that young people have very little knowledge of personal finance. Even some of the college students think that the money from credit cards is free. Children should be taught how to manage money.