@fionamathews
There’s a difference between doing math exercises on financial concepts and truly understanding finance. The practical application is key.
Teddy said:
@fionamathews
Why should an 18-year-old worry about mortgages and taxes?
By 18, it’s definitely time to start understanding these concepts.
I’m not sure if teaching financial literacy will change much. There’s a general resistance to intellectual engagement.
Many states now require financial literacy classes for graduation. It’s great in theory, but I’m not sure how effective they are. Financial skills like budgeting and understanding taxes were part of a required Civics class in the past.
Ohio has a financial literacy graduation requirement. My son finds the online, self-paced class unengaging. There’s no real teaching happening.
Our district requires a financial literacy class for seniors. They handle projects like planning a budget for living alone, which they find both tough and interesting. The class seems to engage them by connecting concepts to real-life scenarios.
The effectiveness of financial literacy education depends on how it’s integrated into the curriculum. If it’s tied to real-world applications, students may find it more engaging and useful.
With the DOE possibly being scaled back, states will have more control over their curriculums, which could make it easier to mandate financial literacy.
ProfessorPenny said:
With the DOE possibly being scaled back, states will have more control over their curriculums, which could make it easier to mandate financial literacy.
Actually, education standards are set at the state level, not by the DOE. States and districts decide on curriculums.
We’re also required to teach literacy and numeracy in subjects like Spanish, so why not include financial literacy as well?
Florida now requires a semester of Personal Financial Literacy to graduate.
Students often ask why we don’t teach practical things like taxes in math class. But the tricky part isn’t the math—it’s the financial jargon that confuses them.
Hemsworth said:
Students often ask why we don’t teach practical things like taxes in math class. But the tricky part isn’t the math—it’s the financial jargon that confuses them.
Basic personal finance might need a bit more than third-grade math. Understanding things like interest rates and compounding is crucial and might click for students around middle school.
We need to focus more on practical skills like managing bills, understanding loans, and using credit wisely. These are essential for students as they prepare to leave high school.
Sam said:
We need to focus more on practical skills like managing bills, understanding loans, and using credit wisely. These are essential for students as they prepare to leave high school.
My mom used to teach home economics, which included a lot of financial education. It’s a shame that many schools have moved away from teaching these essential skills.
I teach financial literacy at the college level, and even there, students struggle to engage with topics like taxes and debt unless they’re actively dealing with them.
If financial literacy is so widely taught, why do so many students end up with huge debts from college loans for degrees that don’t lead to well-paying jobs?
It’s wrong to expect everyone to master complex financial skills just to survive. Society shouldn’t be set up that way.
In Texas, they’re starting to require financial literacy in schools. Some believe it’ll make a difference, but I’m skeptical.
In my senior projects class, we learned practical skills like resume writing and the basics of finance. It was incredibly helpful and showed me how math applies in real life, like understanding interest rates and managing budgets.