Teaching Teens About Money Management in High School
, on September 14, 2007
I have been giving this subject a lot of thought lately. After I read “Should Schools have Money Management Classes?,” an excellent post from Fortune Watch. As far as I can tell, there are two “real life” subjects being taught in high schools today: sex education and driver education. Both subjects are aimed at helping students survive or perform better in the real world.
Then the question is, how come we are not teaching our children about money?
Here are some factoids:
- The official poverty rate in 2006 was 12.3%, or 36.5 million people lived in poverty (U.S. Census Bureau)
- Average college student owed $3,262 in credit-card debt upon graduation (Liz Pulliam Weston at MSN Money)
- Personal saving rate has declined into the negative territory (US Government Accountability Office, slide 14)
- Revolving consumer credit has reached a record level of $907.4 billion and is growing by 6.6% per annum (CardTrak.com)
- Average person in the civilian labor force owed $6,215 in credit-card debt (Population data from Population Reference Bureau)
- Average U.S. Household owed $8,249 in credit-card debt (Household data from U.S. Census Bureau)
- In 2006, there were a total of 597,965 non-business bankruptcy filings (U.S. Courts Bankruptcy Statistics)
Based on these grim numbers, I am surprised that money management is not a mandatory subject in high school. What are your thoughts?
If you like this article, please sign up for our free weekly updates
Sign up for free weekly updates
About the AuthorPinyo
is the owner of Moolanomy Personal Finance
and an entrepreneur with over 20 years of business experience. He has a strong appreciation for business management, investing, and wealth building. He has written for many online publications, including American Express and U.S. News.
The information on this site is strictly the author's opinion. It does NOT constitute financial, legal, or other advice of any kind. You should consult with a certified adviser for advice to your specific circumstances.
While we try to ensure that the information on this site is accurate at the time of publication, information about third party products and services do change without notice. Please visit the official site for up-to-date information.
Moolanomy has affiliate relationships with some companies ("advertisers") and may be compensated if consumers choose to buy or subscribe to a product or service via our links. Our content is not provided or commissioned by our advertisers. Opinions expressed here are author's alone, not those of our advertisers, and have not been reviewed, approved or otherwise endorsed by our advertisers.