As a teacher, I’ve noticed many students leave school without understanding personal finance basics like budgeting, taxes, or investments. This issue came to light when a former student inherited $5,000 and was completely overwhelmed, not knowing how to manage it. This has driven me to push for financial literacy to be included in high school curriculums. Students equipped with financial skills can make better decisions, handle unexpected money gains, or manage day-to-day finances. I’m keen to hear from other educators and policymakers on how to effectively integrate this into our schools and any challenges you’ve faced.
A big problem is that many high school students don’t have jobs or pay taxes yet, so concepts of finance feel abstract and disconnected from their lives. It’s like teaching quantum mechanics—without relatable experiences, the lessons might not stick. We teach financial math, but the challenge is making it relevant. What real-life financial situations can teenagers relate to if they’ve never handled money significantly? Plus, there’s no one-size-fits-all way to manage finances, making it even harder to teach effectively.
@TeachTalker3
But many teenagers do handle money. They pay at cafes, buy sneakers, and some have jobs. Shouldn’t they understand how to read their pay stubs or manage a credit card? It’s practical knowledge, not just future stuff.
@Ronald
Most teenagers I know, including myself at 20, don’t use credit cards. Employers pay directly into bank accounts these days.
Tracy said:
@Ronald
Most teenagers I know, including myself at 20, don’t use credit cards. Employers pay directly into bank accounts these days.
But you still receive a pay record, right? And how do you manage car expenses or pay for other needs?
Tracy said:
@Ronald
I don’t have a car. I use my debit card for purchases. Isn’t that common?
How do you track your spending? Do you check account statements?
Tracy said:
@Ronald
I don’t have a car. I use my debit card for purchases. Isn’t that common?
How do you track your spending? Do you check account statements?
I use my bank’s app to monitor my balance and transactions. I don’t receive physical statements.
@Tracy
Do you think schools should teach students how to manage such apps and check for transaction errors?
Tracy said:
@Ronald
I don’t have a car. I use my debit card for purchases. Isn’t that common?
How do you track your spending? Do you check account statements?
What’s this ‘paper’ you mentioned earlier? Just kidding!
@Ronald
I hear students say they don’t bother with taxes because they don’t think the refund is worth the effort. Many gamble their earnings on sports betting, knowing it’s unwise but not caring.
RaeganRevord said:
@Ronald
I hear students say they don’t bother with taxes because they don’t think the refund is worth the effort. Many gamble their earnings on sports betting, knowing it’s unwise but not caring.
Half are gambling their earnings? Can you elaborate?
@EducatorEthan
They talk about it all the time and it’s clear from their phone activity it’s more than just talk.
@TeachTalker3
Hello, I really like your writing style. Can you share some tips on how to express myself more clearly and effectively?
Ohio started requiring financial literacy classes for graduation about 20 years ago. I taught it for a while, and it was tough. Students often complained they wouldn’t use the information, like how to file taxes or make a budget. There was a lot of resistance from students, parents, and even administrators, especially when it came to grading.
New Jersey has developed a comprehensive, interactive financial literacy program for high schoolers. It covers jobs, bills, taxes, and general adult financial responsibilities, and goes in-depth into financial concepts like stocks and insurance. It’s a hands-on approach to teaching practical financial skills.
In Australia, we integrate financial education into our math classes, covering everything from taxes to mortgages. Despite this, many students don’t retain the information because they don’t see its immediate relevance.
Teddy said:
@fionamathews
Why should an 18-year-old worry about mortgages and taxes?
It’s frustrating when people claim these topics aren’t taught. They are, but the challenge is making students see the value and retain the information.