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Amazingly enough, some alleged summa laude finance majors don't know how to join a credit union...
Amazingly enough, some alleged summa laude finance majors don't know how to join a credit union...
We heard the Wall St Casino Banksters refer to retail, and even ins utional investors, and municipalities (who by 1000s were sold bond deals that now force them to pay 10%+ interest), as "muppets", aka, suckers to be deceived, sold , and ripped off.
Granted it's been 20 years, but back when I was in high school I think I got about two weeks worth of "here's how to balance a checkbook / here's how to do a budget" education. That wasn't nearly enough. Thankfully my father took personal finance seriously and put the time in with me to talk about things like rent, credit cards, mortgages, and most importantly saving for retirement.
IMHO, every high schooler should have to take what I'll call a " that grown ups have to deal with" class. It wouldn't be limited to just personal finance, but that would be a huge part of it. Teach kids about how mortgages work, the difference between a stock, a bond and a mutual fund, what a 401k is.
Also teach them stuff about how to be an informed voter. How property taxes work, what it means when you're voting on a bond referendum. Teach them basic infrastructure like where your electricity and water come from, where your trash goes, how things like roads, parks and libraries get built.
Lastly, teach some consumer skills like how advertising works, how they're being targeted, how to comparison shop. Things like that.
All of this stuff affects everyone's lives immensely and there are plenty of adults who have no idea how this stuff works, let alone college and high school graduates.
Amazingly enough, some alleged summa laude finance majors don't know how to join a credit union...
Most don't.
My kids will.
Will this link be the first lesson?Most don't.
My kids will.
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