New High School Class Schedule: Algebra, Bio, Phys. Ed., English, 401(k)

By Brad Tuttle | @bradrtuttle | January 27, 2010 | +

More states are requiring high school students to take personal finance classes in order to graduate—which seems like a pretty good idea, considering that based on what’s happened lately in the world of real estate and consumer debt, kids aren’t likely to be absorbing good financial lessons at home.

Per the AP:

The number of states requiring public high schools to offer a personal finance course rose from nine to 15 between 2007 and 2009, according to the Council for Economic Education. Thirteen states require a personal finance course for graduation, up from seven in 2007.

In these classes, student might learn about how to make a down payment on a home, navigate the terms of a lease, and start a 401(k) retirement account. At some schools, lessons start well before high school: Kindergarteners, for example, learn the difference between needs and wants.

Can adults attend these classes too?

@TIMEMoneyland

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http://awarenesshomefunding.wordpress.com AwarenessHomeFunding

Requiring students to pass a personal finance course in order to graduate is an idea that deserves to be seriously considered. So many people are in trouble due to credit card debt or mortgages they just can’t handle. Many do not understand the concept of a budget or they just don’t care. Teaching kindergarteners the difference between wants and needs is a great place to start. Learning the nuts and bolts of budgeting should begin well before high school. Yes, parents should be doing this at home and many do, but we all know that kids go through a stage where they think their parents don’t know anything. If students were required to take a class on the topic both before and after they reach that stage, we might see fewer bankruptcies and foreclosures in the future.
pittsburghpoet

As with high-school sex ed courses, I think a lot of damage is done before high school. And a lot of the course would be countering social pressures: _don’t_ get into credit card debt, _don’t_ buy that lottery ticket. Some companies work hard to get people into bad habits, particularly poor people.
http://awarenesshomefunding.wordpress.com AwarenessHomeFunding

Very thought provoking to compare financial education to sex education. Hmmm. Both would involve teaching about social pressures and explaining the consequences of giving in to them and going against them — the good and bad of both. I agree that some companies work hard to get people into bad habits, especially poor people. Sad, but true. Education, not just the academic kind, is very important.