- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Financial Life Skills - Developing a class
Posted on 3/15/19 at 8:33 pm
Posted on 3/15/19 at 8:33 pm
I have been interested for a long time in developing & teaching a class on basic life skills/financial basics. I always wished it was taught in high school.
The purpose of the class is not to make money, just a way of giving back. It would probably be targeted at recent high school grads or underpviledged/less educated people without much knowledge at all.
I’m posting here just to get general thoughts and what types of topics you all think would be most beneficial? Was thinking the class might be held through a church or at the public library.
Potential Topics
Buying a Car
- How much can I afford
Financing
House
- How much house can I afford
- Buying vs renting, what’s right for you?
Building & Understanding Credit
- Why credit is important
- What your score means & how to improve it
Debt
- Getting out of debt basics
Retirement Savings
-Planning, Social Security etc
The purpose of the class is not to make money, just a way of giving back. It would probably be targeted at recent high school grads or underpviledged/less educated people without much knowledge at all.
I’m posting here just to get general thoughts and what types of topics you all think would be most beneficial? Was thinking the class might be held through a church or at the public library.
Potential Topics
Buying a Car
- How much can I afford
Financing
House
- How much house can I afford
- Buying vs renting, what’s right for you?
Building & Understanding Credit
- Why credit is important
- What your score means & how to improve it
Debt
- Getting out of debt basics
Retirement Savings
-Planning, Social Security etc
This post was edited on 3/15/19 at 8:41 pm
22
Posted on 3/15/19 at 8:47 pm to cajuntiger26
Mortgages
Credit cards
Loan
Reproducing
Investing (retirement/stock)
Credit cards
Loan
Reproducing
Investing (retirement/stock)
Posted on 3/15/19 at 10:07 pm to cajuntiger26
Most important things people for any age can learn:
1)time value of money
2)power of money
3)profit
1)time value of money
2)power of money
3)profit
Posted on 3/15/19 at 10:23 pm to cajuntiger26
Compounding interest
Credit cards
Student debt
Building a budget
This is great BTW.
Credit cards
Student debt
Building a budget
This is great BTW.
Posted on 3/15/19 at 10:25 pm to cajuntiger26
What is your strategy for changing people's philosophy? That will be your biggest hurdle.
Posted on 3/15/19 at 10:41 pm to cajuntiger26
-Long term cost of debt and how/ why avoid it
-How interest works
-401k/Roth IRA
-Stocks, mutual funds, ETFs
-Why you need an emergency fund
-Needs vs wants (deferred gratification)
-Assets vs liabilities
-Renting/leasing vs owning (when renting is better and when it's not)
-How interest works
-401k/Roth IRA
-Stocks, mutual funds, ETFs
-Why you need an emergency fund
-Needs vs wants (deferred gratification)
-Assets vs liabilities
-Renting/leasing vs owning (when renting is better and when it's not)
This post was edited on 3/15/19 at 10:46 pm
Posted on 3/15/19 at 11:04 pm to cajuntiger26
The episode of Cosby where Bill talks to Theo about the cost of living is an excellent example.
Kids should have to learn the starting salary for their anticipated job. Determine take home pay. Apartment or buy a home? What kind of car you driving? You want kids? Private School? You want health insurance or will you hope to be so penniless you are a Medicaid case? Start doing the math.
Kids should have to learn the starting salary for their anticipated job. Determine take home pay. Apartment or buy a home? What kind of car you driving? You want kids? Private School? You want health insurance or will you hope to be so penniless you are a Medicaid case? Start doing the math.
Posted on 3/16/19 at 12:16 am to cajuntiger26
Budgeting
Balancing a check book
Balancing a check book
Posted on 3/16/19 at 8:24 am to cajuntiger26
Insurance
Teach them that there is a multi billion $ industry designed to separate them from their $ and it takes intentional effort to combat.
Teach them that there is a multi billion $ industry designed to separate them from their $ and it takes intentional effort to combat.
Posted on 3/16/19 at 8:39 am to cajuntiger26
-Understanding the credit and debit system of a checking account.
-Balancing a check book/checking account.
-Creating a monthly budget, tracking it, and forecasting saving.
-Understanding how to read a paystub, what "tax deductions" are on a paystub, and what the difference in net and gross are.
-Understanding how the progressive tax system works.
-Understand how a credit card and personal loans work.
I participated in something like this very thing you are talking about years ago. The initial plan was big and bright and to teach all these people about savings, credit, and retirement planning. Turned out that 95% of the class didn't even know/understand the topics I mentioned above. So the leader of the class simplified his goals and taught the very simple basics. It is scary to think of how many people don't even understand how to interpret their paystub.
-Balancing a check book/checking account.
-Creating a monthly budget, tracking it, and forecasting saving.
-Understanding how to read a paystub, what "tax deductions" are on a paystub, and what the difference in net and gross are.
-Understanding how the progressive tax system works.
-Understand how a credit card and personal loans work.
I participated in something like this very thing you are talking about years ago. The initial plan was big and bright and to teach all these people about savings, credit, and retirement planning. Turned out that 95% of the class didn't even know/understand the topics I mentioned above. So the leader of the class simplified his goals and taught the very simple basics. It is scary to think of how many people don't even understand how to interpret their paystub.
Posted on 3/16/19 at 8:47 am to cajuntiger26
Excellent idea and much needed for young people...kudos
I've lost track of how many times my children (now young adults) and their friends have said "I wish they would have taught us about money in school"
This type of information/education is greatly needed
I've lost track of how many times my children (now young adults) and their friends have said "I wish they would have taught us about money in school"
This type of information/education is greatly needed
Posted on 3/16/19 at 9:59 am to cajuntiger26
This is a fantastic idea, keep us updated on the progress. My friend runs a non profit in New Orleans for inner city kids and this would be something so beneficial for them.
Posted on 3/16/19 at 10:24 am to cajuntiger26
That's essentially what Junior Achievement is here in New Orleans. Maybe not as comprehensive but they go through the basic concepts.
This post was edited on 3/16/19 at 10:25 am
Posted on 3/16/19 at 1:24 pm to cajuntiger26
Nm
This post was edited on 3/16/19 at 2:31 pm
Posted on 3/16/19 at 1:24 pm to cajuntiger26
cost & benefits of higher education
Posted on 3/16/19 at 2:26 pm to cajuntiger26
This page has links to a lot of free curriculum and other resources. Financial Literacy for All
Perhaps you can use some of these in your program. It's unfortunate more schools don't use these. I suspect many in the education field aren't financially savvy themselves. Kids would retain more and also get more enthused about math if it was applied to real world finance issues they're soon to face.
Perhaps you can use some of these in your program. It's unfortunate more schools don't use these. I suspect many in the education field aren't financially savvy themselves. Kids would retain more and also get more enthused about math if it was applied to real world finance issues they're soon to face.
Posted on 3/16/19 at 4:03 pm to cajuntiger26
Posted on 3/16/19 at 4:27 pm to cajuntiger26
Costs of reproducing would be a good addition
Posted on 3/16/19 at 4:46 pm to cajuntiger26
ROI for education. Expected salary for various careers vs community college, in/out of state or private tuition. Financial aid/scholarships vs loans.
Posted on 3/16/19 at 5:29 pm to southside
quote:
-Understanding the credit and debit system of a checking account.
-Balancing a check book/checking account.
Waste of time imo.
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News