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Started By
Message
re: Only 13% of workers under 50, could answer 4 of 5 financial literacy questions correctly
Posted on 5/27/22 at 1:17 pm to go ta hell ole miss
Posted on 5/27/22 at 1:17 pm to go ta hell ole miss
quote:
It is crazy that kids graduate high school and have never been taught about a checking account, debit card or credit card interest rates in 2022. The system needs to evolve in this area.
My parents and grandparents were solid middle class, and managed their money well. They didn’t teach me anything about finances, I learned from just watching their behaviors, and listening to their conversations about money. The problem today is with so many families having finances that are out of control many kids don’t have positive models to pick up good money habits from.
1
Posted on 5/27/22 at 3:18 pm to go ta hell ole miss
quote:
It is crazy that kids graduate high school and have never been taught about a checking account, debit card or credit card interest rates in 2022. The system needs to evolve in this area.
Georgia has a financial literacy requirement for graduation.
You can lead a horse to water...
Posted on 5/28/22 at 12:16 pm to meansonny
quote:
You can lead a horse to water...
That’s true of every course that’s taught. But just because some do not take advantage of the offered information doesn’t mean that it shouldn’t be offered.
Since I was in high school (more than a couple of years ago
), some amount of basic finance was offered in math and accounting courses. Having a standalone curriculum in the subject just makes good sense to me. Not having basic informational courses defeats the whole purpose of mandatory K-12 education. Posted on 5/28/22 at 12:18 pm to EA6B
+1
Posted on 5/28/22 at 6:22 pm to TigerintheNO
Think about how many people are making upwards of a million dollar personal finance decision when they are coming out of high school / college, through their financial action or inaction, yet many (most?) do not have a clue that is what they are doing.
Posted on 5/28/22 at 6:49 pm to shoestring
quote:
I think you added the word Roth then claimed the answer is false, when in reality the answer to the question asked is true.
The question didn't specify traditional. A Roth 401k is still a 401k.
Posted on 5/29/22 at 12:00 pm to Jag_Warrior
quote:
That’s true of every course that’s taught. But just because some do not take advantage of the offered information doesn’t mean that it shouldn’t be offered.
Since I was in high school (more than a couple of years ago ), some amount of basic finance was offered in math and accounting courses. Having a standalone curriculum in the subject just makes good sense to me. Not having basic informational courses defeats the whole purpose of mandatory K-12 education.
If you are smart enough to know what you arent getting in school and do nothing about it, then you are an idiot.
Blaming the school for an inadequate education is akin to blaming yourself for doing nothing about it.
Go to an employer or prospective client and make such excuses and you wont be very successful in life. The best lesson in life is to learn how to learn.
Posted on 5/29/22 at 10:07 pm to TigerintheNO
Most of these are shitty and incomplete questions to be fair
Posted on 5/31/22 at 9:04 am to TigerDeBaiter
Yep. The correct answer to most of these questions is “it depends”
Posted on 5/31/22 at 9:45 am to meansonny
quote:
If you are smart enough to know what you arent getting in school and do nothing about it, then you are an idiot.
Even an above average K-12 kid isn’t going to know everything that (or even most of what) he should know.
quote:
Blaming the school for an inadequate education is akin to blaming yourself for doing nothing about it.
I have no problem blaming a school or school system for inadequate courses or instruction. There’s a reason why many parents search out the better school districts when buying a home.
quote:
The best lesson in life is to learn how to learn.
That sounds nice. But again, getting a sound fundamental footing (both formal and within the home) and/or being provided with guidance and direction (both formal and within the home) is what makes the difference with K-12. My girlfriend’s teenage grandkids are bright kids. But they have no way of knowing all that they’ll need to know upon entering the adult world.
And I’m not just focusing on financial literacy with that statement. But I write grants (in my spare time) for an organization that offers training and educational courses for adults who are trying to catch up. I admire them. But part of what I get comes from your tax dollars. Pay for it now… or pay for it later.
Posted on 5/31/22 at 11:12 am to Jag_Warrior
quote:
quote:
If you are smart enough to know what you arent getting in school and do nothing about it, then you are an idiot.
Even an above average K-12 kid isn’t going to know everything that (or even most of what) he should know.
It sounds like we are more in agreement than disagreement.
However, the bold statement above is called parenting.
It isnt kids complaining about what is taught and isnt taught in school. It is parents, grandparents, aunts and uncles. Thus the responsibility to lead to water is that of the parent, grandparent, aunt and uncle. If we dont care enough about our own family to address obvious issues, why are we placing that expectation on a teacher?
quote:
But I write grants (in my spare time) for an organization that offers training and educational courses for adults who are trying to catch up. I admire them. But part of what I get comes from your tax dollars. Pay for it now… or pay for it later.
Organizations with grants are one way to address gaps. United way and goodwill spend a lot of resources here. Tech colleges and career academies spend reaources here.
But in the age of the internet, there cant be any excuses for not accessing information that rounds out basic skills.
I have 4 kids. Self taught on guitar, piano, drums. Self taught in sign language. Parent taught on cursive, checking accounts, differences in revolving and installment debt, compound interest and the rule of 70, etc..
I dont expect school to teach my kids about faith and morality. Why assume that schools are prepared for anything other than reading, writing, and arithmatic?
Posted on 5/31/22 at 5:07 pm to meansonny
quote:
I have 4 kids. Self taught on guitar, piano, drums. Self taught in sign language.
And that’s admirable. Unique, but still admirable.
quote:
Parent taught on cursive, checking accounts, differences in revolving and installment debt, compound interest and the rule of 70, etc..
And that’s all fine and good. You have the ability or background to do that. So for the parents who can’t effectively do that… the world needs ditch diggers too? Sorry, but I don’t see it that way. Hopefully your kids know how lucky and blessed they are.
quote:
I dont expect school to teach my kids about faith and morality.
I’m opposed to that as well. But no mention of those topics has been made by me.
quote:
Why assume that schools are prepared for anything other than reading, writing, and arithmatic?
Since I know that all of the school systems in my area teach a LOT more than just basic math, reading and writing (various higher level math and science courses, art, music, dual enrollment and AP classes in STEM areas, etc., etc.), why do you have such an issue with basic personal finance being taught, even being incorporated into an existing math or accounting course? Of all the things to be opposed to, this seems like an odd hill to die on.
Hopefully I’m a half decent mentor to the kids and younger adults that I encounter. Because I know how lucky I was to have great parents and mentors along the way, I feel that I owe something to the kids who don’t grow up with those advantages.
Posted on 5/31/22 at 10:10 pm to Jag_Warrior
quote:
Since I know that all of the school systems in my area teach a LOT more than just basic math, reading and writing (various higher level math and science courses, art, music, dual enrollment and AP classes in STEM areas, etc., etc.), why do you have such an issue with basic personal finance being taught, even being incorporated into an existing math or accounting course? Of all the things to be opposed to, this seems like an odd hill to die on.
You misunderstand completely.
Im not opposed to schools teaching students.
Im opposed to parents and grandparents complaining about what isnt taught in schools.
I think we are more in agreement than disagreement.
If your grandchild isnt being taught something, be a problem solver. Guide him or her yourself.
As i posted earlier, financial literacy is a graduation requirement in Georgia. I have never had a problem with that.
Posted on 5/31/22 at 10:14 pm to meansonny
Gotcha.
Posted on 6/1/22 at 7:53 pm to GREENHEAD22
quote:
Pay the statement balance, not the total is necessary.
I think "charges" includes interest charges here.
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